New York A11660 prohibits state employees from using nonpublic information in prediction markets and sets penalties for violations.

New York A11660 amends the public officers law to prohibit certain state employees from using nonpublic information to gain an advantage in prediction markets. The bill defines a prediction market as an exchange-traded platform or service used to buy and sell contracts contingent on future events. Penalties for violations include fines up to $5,000 for a first offense, $10,000 for a second offense, and removal from office or employment for a third offense. The act takes effect immediately.

New York A11660 prohibits state employees from using nonpublic information in prediction markets and sets penalties for violations.

New York A11660 amends the public officers law to prohibit certain state employees from using nonpublic information to gain an advantage in prediction markets. The bill defines a prediction market as an exchange-traded platform or service used to buy and sell contracts contingent on future events. Penalties for violations include fines up to $5,000 for a first offense, $10,000 for a second offense, and removal from office or employment for a third offense. The act takes effect immediately.