The Prediction Markets Security and Integrity Act establishes comprehensive federal and state regulations for online prediction markets, creating a system where states must apply for federal approval from the U.S. Attorney General to operate these platforms, with approvals valid for three years and renewable subject to meeting established standards. The bill implements strict consumer protections including age verification (21+), limits on deposits and large wagers, prohibition of credit card betting, and mandatory self-exclusion options, while barring operators from using insider information, manipulating markets, or listing bets on certain sensitive topics like war or death. Operators must obtain state licenses through background checks, maintain detailed records for six years, report suspicious activity within 24 hours, and comply with advertising restrictions that ban bonus offers and limit broadcasts to 8 a.m.–10 p.m., along with prohibitions on wagering related to amateur sports and live sporting events. The legislation requires states to designate regulatory entities and grants them enforcement authority to audit operations and monitor compliance, with operators and regulators obligated to cooperate with law enforcement and sports organizations investigating violations. All consumer protection measures and fraud prevention rules must be implemented within 180 days of the bill's enactment.
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