Establishes regulatory framework for prediction markets; authorizes licensed athletic event markets; prohibits certain public officers and employees.

Prediction markets offer participants the ability to purchase "events contracts" which pay out if the participant has predicted the correct outcome of the event. In effect, prediction markets enable people to wager on everything from sports to elections to world events, all while avoiding State regulations because they are packaged and sold as federally regulated securities. This bill prohibits the operation of certain prediction markets in this State and authorizes the operation of athletic event markets operating in compliance with sports wagering regulations.

Establishes regulatory framework for prediction markets; authorizes licensed athletic event markets; prohibits certain public officers and employees.

Prediction markets offer participants the ability to purchase "events contracts" which pay out if the participant has predicted the correct outcome of the event. In effect, prediction markets enable people to wager on everything from sports to elections to world events, all while avoiding State regulations because they are packaged and sold as federally regulated securities. This bill prohibits the operation of certain prediction markets in this State and authorizes the operation of athletic event markets operating in compliance with sports wagering regulations.