New York State is pushing forward another bill to regulate forecasting markets, which would ban contracts for political and sports events.

PANews reported on January 9th that the New York State Legislature has resubmitted the ORACLE Act in November 2025, proposing to regulate event-based contracts by adding Chapter 48, "Prediction Markets," to the General Business Act. The bill proposes banning contracts related to political or sporting events, while also establishing regulations such as age restrictions, market entry conditions, advertising restrictions, and anti-manipulation provisions. Although the ban covers specific event types, neutral outcomes such as "league wins and losses" may still be tradable, indicating that regulators are attempting to strike a balance between innovation and risk.