An Act amending Title 4 (Amusements) of the Pennsylvania Consolidated Statutes, providing for event outcome prediction wagering; imposing duties on the Pennsylvania Gaming Control Board and the Department of Revenue; imposing an event outcome prediction wagering tax and local share assessment; establishing restricted receipt accounts within the State Gaming Fund and the Commonwealth Financing Authority; and imposing penalties.

This bill establishes a legal framework in Pennsylvania for event outcome prediction wagering, allowing individuals to place bets on the results of various future events such as elections, sports competitions, and weather patterns through licensed digital platforms. To operate, companies must obtain a state license from the Gaming Control Board and adhere to specific rules regarding how they set odds and manage payouts, while the existing lottery, horse racing, and fantasy sports remain excluded from these new regulations. The legislation also creates a new tax on the revenue generated from these wagers, directing a portion of the funds into state accounts for gaming oversight and financing, and imposes penalties for violations of the new rules.