Election betting ban advances as lawmakers target prediction markets

New Jersey lawmakers advanced legislation Sunday night that would prohibit betting on virtually every election in which New Jersey voters participate and bar candidates and their immediate families, campaign workers, and public officials from political prediction markets such as Polymarket.

The measure creates New Jersey’s first comprehensive regulatory framework for prediction markets while imposing new taxes and licensing requirements on operators.

The legislation was introduced two weeks ago and fast-tracked through both houses. A vote is expected when the legislature meets on Tuesday.

The legislation also imposes a five-year revolving-door ban on many former state officials from working for licensed operators of athletic events.




https://newjerseyglobe.com/legislature/election-betting-ban-advances-as-lawmakers-target-prediction-markets/