NY S09414

Establishes the ORACLE Act to regulate prediction markets in New York, requiring platforms to restrict participation to users aged 21 and older and implement responsible trading measures including self-exclusion options and spending limits

Prohibits prediction markets on political events, elections, government actions, catastrophic events, deaths, securities prices, and athletic events for New York consumers

Requires platforms to maintain transparent settlement sources, display the HOPE NY gambling hotline in all advertisements, and bans credit card use and gift certificates for platform funding

Imposes civil penalties of up to $10,000 per violation ($50,000 for persistent violations), with platforms continuing operations after court-ordered cessation facing $1 million per day in penalties

Bars licensed gaming entities from offering prediction markets in New York, with violations resulting in fines of $10,000 to $100,000 per violation and potential loss of gaming licenses