Lamont has introduced House Bill 5038, a piece of legislation that would raise the minimum age requirement for event contract trading from 18 to 21. The legislation also proposes new advertising rules for prediction markets amid the growing popularity of event contracts, particularly sports, nationwide.
HB 5038 was immediately referred to Connecticut’s Joint Committee on General Law, which held a hearing on the bill with plans to further discuss the potential age increase.
Lamont’s bill excludes sports from prediction markets definition
HB 5038 defines prediction markets as “any system that allows consumers to open a speculative position on the outcome of future events, in a bid-ask format, regardless of the mechanisms or structures used for opening speculative positions on future events.”
The text of the bill specifically notes that the definition of prediction marke..
