New York Targets Prediction Markets as Polymarket Partners with Rangers
The New York Assembly this week revived legislation that would restrict or ban prediction market–style sports wagering, calling out platforms that enable bettors to trade on game outcomes. That move comes as Polymarket, a leading crypto prediction market, revealed a commercial partnership with the NHL’s New York Rangers — a deal that now sits squarely in the crosshairs of state lawmakers. The juxtaposition highlights a growing clash between mainstream sports marketing and local regulatory priorities.
For Polymarket and similar platforms, the bill signals near-term policy risk: potential enforcement, tighter licensing requirements, or changes to product design to avoid being classified as illegal sports betting. The development could chill sponsorships and league partnerships while prompting legal challenges or lobbying efforts. Market participants will be watching the bill’s progress and any clarifications from regulators for signs of how prediction markets can operate in the U.S. sports ecosystem.