Since the Jets were previously calling Ryan Fitzpatrick a game time decision at quarterback, if this rumor is true it would suggest that either Ryan Fitzpatrick's knee has taken a turn for the worse, or that the Jets have decided to make the change to Petty going forward.
Petty is a 6' 3", 230 pound 2nd year quarterback out of Baylor University. He was a fourth round draft choice by the Jets in the 2015 NFL draft. If Petty does start against the Rams it will be a difficult opening assignment, as the Rams have a good defense with an elite defensive line that will put heavy pressure on the Jets makeshift offensive line.
Assuming the rumor is true Petty now gets the opportunity to state his case to be the Jets quarterback of the future. With 2016 2nd round draft choice Christian Hackenberg waiting in the wings this could be Petty's best chance to claim the starting position for himself.