New York A11521 mandates a license for operating prediction markets, defining them as platforms for wagering on future events with payouts tied to.

New York A11521 introduces licensing requirements for prediction markets, which are defined as platforms where participants can place bets on future events, including political, economic, and weather outcomes. The bill requires operators to obtain a license from the Department of Financial Services. It outlines application and qualification criteria, including anti-money laundering programs, consumer protection policies, and internal controls for market integrity.

New York A11521 mandates a license for operating prediction markets, defining them as platforms for wagering on future events with payouts tied to.

New York A11521 introduces licensing requirements for prediction markets, which are defined as platforms where participants can place bets on future events, including political, economic, and weather outcomes. The bill requires operators to obtain a license from the Department of Financial Services. It outlines application and qualification criteria, including anti-money laundering programs, consumer protection policies, and internal controls for market integrity.