StubHub (STUB.N): DC Passes the RESALE Act Establishing a 10% Resale Price Cap

研报英文原文证据摘录

StubHub (STUB.N): DC Passes the RESALE Act Establishing a 10% Resale Price Cap

Flash |

15 Jul 2026 13:27:50 ET │ 11 pages

StubHub (STUB.N)

DC Passes the RESALE Act Establishing a 10% Resale Price Cap

CITI'S TAKE

Neutral / High Risk Yesterday, Washington, DC unanimously approved the RESALE Act

(Digital Music News; July 14, 2026). The law introduces a 10% resale price Price (14 Jul 26 16:00) US$10.67

cap along with additional protections against ticket scalpers. We believe Target price US$9.00

the regulation is likely to serve as a blueprint for other states. Currently, Expected share price return -15.7%

three US jurisdictions (ME, VT, and DC) – covering ~1% of the US Expected dividend yield 0.0%

population – have approved price cap laws. Four states (CA, NY, MA, and Expected total return -15.7%

NC) – covering ~25% of the US population – have also introduced resale

Market Cap US$4,006M price cap law proposals. In 2027, assuming ~20% of StubHub tickets are

impacted by price caps, this may hurt StubHub's 2027 EBITDA by ~$95

million.

Jason B BazinetAC

The RESALE Act -- Yesterday, DC approved the RESALE Act (DMN; July 14, 2026). +1-212-816-6395

The legislation includes five key provisions: 1) introduces a 10% resale price cap, 2) jason.bazinet@citi.com

bans speculative ticket sales (advertising tickets the reseller does not possess), 3)

requires full price transparency, 4) prohibits surveillance pricing (using consumer

data to customize prices), and 5) strengthens enforcement of ticketing regulations.

The regulation takes effect Jan 1, 2027.

States with Price Cap Laws Today -- DC marks the third US jurisdiction to ban

excessive resale markups, alongside Maine (in June 2025) and Vermont (in May

2026). Together, these jurisdictions constitute just ~1% of the population.