"The bill zeroes in on prediction market platforms that let users buy and sell positions on future events through a bid-ask system. Topics can range from elections to economic indicators. The legislation draws clear boundaries, explicitly excluding sports wagering, online casino gaming, internet games, and traditional securities or commodities trading already governed by existing law. If approved, the measure would make it illegal for any prediction market platform operating in Connecticut to allow a resident under 21 to register or open a speculative position."
"The bill goes further by tightening advertising practices. All ads would need to clearly state that participants must be at least 21 years old. Direct or targeted advertising, including emails and text messages, would be required to include a clear and easy way for recipients to unsubscribe. It would ban advertising aimed primarily at people under 21 or at college campuses. Ads using imagery, language, or endorsements designed to appeal specifically to younger audiences would be prohibited."
Governor's Bill No. 5038 was submitted under Joint Rule 9 and referred to the General Law Committee at the start of the 2026 legislative session. The measure targets prediction market platforms that use a bid-ask trading system for positions on elections, economic indicators, and other future events, while excluding sports wagering, online casino gaming, internet games, and regulated securities or commodities. The proposal would prohibit Connecticut residents under 21 from registering or opening speculative positions, mandate age verification and confirmation of physical in-state location before account opening or wagers, and impose strict advertising rules prohibiting youth-focused or misleading promotions.
Read at ReadWrite
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