Pennsylvania proposes HB 2711 bill to prohibit gambling companies from making market predictions for the market

Pennsylvania Congressman Tarik Khan proposed HB 2711 on July 22, proposing to prohibit sports betting and gambling companies from serving as liquidity providers or market makers on prediction platforms, and to prohibit prediction platforms from sharing revenue with gambling companies. The bill requires platforms to set a minimum age of 21 for participation, prohibit markets involving high school sports, underage events, personal health, and death incidents, and be enforced by state attorneys general. Pennsylvania also has a supporting bill HB 2497, which intends to require platforms to obtain permission from the Pennsylvania Gaming Control Commission and impose a 22% tax.