New York prediction markets are now on the state’s legislative radar. The ORACLE Act, filed as Assembly Bill A.9251 on 7 November 2025, is currently under committee review in the New York State Assembly. The proposal seeks to establish a full legal framework for event-based prediction trading, covering eligibility, advertising, payments, and enforcement.

• The Oversight and Regulation of Activity for Contracts Linked to Events (ORACLE) Act would add a new Article 48 to New York’s General Business Law, defining how prediction market platforms can operate. It sets standards for market transparency, defines “speculative positions,” and prohibits misleading advertising.

• Participation would be limited to players aged 21 and over, with mandatory identity checks, exclusion lists, and self-exclusion tools. Providers must enforce responsible gaming policies, including spending limits, activity reminders, and staff training to identify problem gambling.

• Certain types of markets would be off-limits, including political elections, deaths, security prices, and event-level sports bets. Broader season or tournament predictions could remain allowed, but operators offering banned markets would risk license revocation and penalties.

• The act introduces tight payment and advertising controls for New York prediction markets. Credit cards and credit-based funding would be banned, while “risk-free” marketing claims and underage imagery would be prohibited. All ads must include HOPE NY’s responsible gaming message.

• If adopted, the law would reshape how existing online platforms operate in the State of New York. Unlicensed prediction sites would have to register or cease operations, and sportsbook or fantasy providers offering event-based markets could need to redesign products to fit the new definitions and restrictions. The Attorney General would oversee compliance and could issue fines or injunctions.

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