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What will be the long-term effect of the TICKET Act on the market structure of event ticketing?
5
Resolution / Starting Odds
More competition among sellers • 33%
Consolidation of major sellers • 33%
No significant change • 34%
Market structure analysis from economic or industry experts
Story
U.S. House Passes Bipartisan TICKET Act to Increase Event Ticket Pricing Transparency
May 16, 2024, 01:06 PM
The U.S. House of Representatives has passed the bipartisan TICKET Act, aimed at increasing transparency and fairness in the event ticket marketplace. The legislation, which emerged from the Energy & Commerce Committee, requires ticket sellers to disclose the total ticket price, including fees, in any advertisement or promotional material. It also bans speculative ticketing, where sellers do not possess the tickets they are selling, and seeks to prevent deceptive practices in the ticketing industry. Key proponents of the bill, including Representatives Frank Pallone, Bill Pascrell, Jan Schakowsky, and Gus Bilirakis, emphasized its importance in protecting consumers from hidden fees and fraudulent tickets. Additionally, an amendment to make URLs less deceptive was included. The TICKET Act aims to make the ticket-buying process more affordable and fair for consumers, addressing long-standing issues in the ticketing industry.
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