Palace Siege
As this enchantment enters, choose Khans or Dragons. • Khans — At the beginning of your upkeep, return target creature card from your graveyard to your hand. • Dragons — At the beginning of your upkeep, each opponent loses 2 life and you gain 2 life.
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Official rulings (3) · Scryfall
Each of the last two abilities is linked to the first ability. They each refer only to the choice made as a result of the first ability. If a permanent enters the battlefield as a copy of one of the Sieges, its controller will make a new choice for that Siege. Which ability the copy has won’t depend on the choice made for the original permanent.
The words “Khans” and “Dragons” are anchor words, connecting your choice to the appropriate ability. Anchor words are a new rules concept. “[Anchor word] — [Ability]” means “As long as you chose [anchor word] as this permanent entered the battlefield, this permanent has [ability].” Notably, the anchor word “Dragons” has no connection to the creature type Dragon.
Each Siege will have one of the two listed abilities, depending on your choice as it enters the battlefield.