Pennsylvania introduces bill barring sports betting firms from prediction market making

A bipartisan bill has been introduced in Pennsylvania to bar sports betting companies from acting as liquidity providers or market makers in prediction markets, Bitcoin.com reported. HB2711, introduced by Pennsylvania state Rep. Tarik Khan, would prohibit companies engaged in gambling operations and their affiliates from providing liquidity to prediction platforms or sharing in related profits. The bill also includes consumer protection measures such as a ban on insider trading and age restrictions for users, and it is expected to help establish a regulatory framework for prediction markets in the state alongside HB2497, a separate bill centered on licensing and a 22% tax.