New York legalizes ticket scalping
New York Governor Eliot Spitzer has made ticket scalping legal. Gov. Spitzer signed legislation on Friday to end New York's limit on how much scalpers and brokers can legally make for ticket sales.
The existing law, which expired Thursday at midnight, only allowed scalpers to markup tickets 45 percent for large venues and 20 percent for facilities with fewer than 6,000 seats.
"This law makes sense because it eliminates resale price controls and lets the free market determine prices," Spitzer said.
Large-volume brokers will now be required to register with the state.
Those who oppose the law said tickets in the secondary market will be too highly priced while those who support the change say it will make tickets more widely attainable.