The post New York Lawmakers Target Prediction Markets as NHL’s Rangers Ink Polymarket Deal appeared on BitcoinEthereumNews.com.

In brief Legislation was reintroduced to tighten rules around prediction markets in New York. It would ban people from speculating on death, as well as individual athletic events. Polymarket’s odds will be featured at Madison Square Garden under a new deal. New York Assemblyman Clyde Vanel reintroduced legislation on Wednesday that would restrict prediction markets in one of the country’s most populous states—a day before Polymarket clinched a deal with the New York Rangers, the professional ice hockey team. Under the ORACLE Act, which was first introduced in November, companies like Polymarket would be prohibited from offering event contracts that hinge on the outcome of specific games, such as Thursday’s scheduled faceoff between the Rangers and Buffalo Sabers. The legislation would still allow prediction markets to field bets on the outcomes of tournaments, such as who could be next to win the Stanley Cup. However, the legislation would ban “prop betting” focused on specific events or player performances within individual games.  Although the legislation would also ban prediction markets on political outcomes, “catastrophic events” like war and mass shootings, and the lifespan of individuals, the proposed rules strike at one of prediction markets’ biggest money-makers in 2025: sports betting. Last week, for example, sports accounted for 37% of Polymarket’s notional trading volume, according to a Dune analytics dashboard. For Kalshi, which powers prediction market offerings for Coinbase and Robinhood, sports accounted for a whopping 93% of notional trading volume. That amounted to $2.3 billion across both companies when combined. On Thursday, Polymarket became the Rangers’ “exclusive prediction markets partner,” allowing the firm to display odds during games at Madison Square Garden. The deal was unveiled in a press release by publicly traded Madison Square Garden Sports. The company said that Polymarket will be featured through LED signage, “digitally enhanced…

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Filed under: News - @ January 8, 2026 11:29 pm