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Michael Savio

Responsible gaming advocates are sounding amid layoffs at the CFTC. The regulator is currently has sole authority over controversial sports prediction markets, which some fear will lead to a massive spike in problem gambling over the next year.

The Tennessee Sports Wagering Council confirmed it has issued $50,000 fines to five offshore sportsbooks for offering illegal gambling in the state. The penalties are the latest action the state has taken to crack down on the unregulated gambling market.

A recent report shows that DraftKings Sportsbook has opened negotiations to purchase Railbird Exchange. The sports prediction market operator was recently licensed by the CFTC, meaning DraftKings would be clear to launch if a deal can be reached.

Hard Rock and BetMGM have added a new minimum bet requirement for all Illinois sports wagers. The move is in response to the state’s new “per-bet” tax, joining an effort by FanDuel, Fanatics, and DraftKings to have it overturned.

Flutter has reached a deal to purchase Boyd Gaming’s 5% share of FanDuel Sportsbook for over $1.7 billion, giving it full ownership of the platform. The two companies started a partnership over the sportsbook back in 2018.

The Indiana Gaming Commission has reported a sports betting handle of over $350 million for June, which is a decrease of 19% compared to the month before. The number was still up year-over-year, thanks largely to the Pacers' run to the NBA Finals.

The North Carolina Lottery Commission has reported that the state saw over $6.4 billion in sports betting wagers in its first fiscal year. When the state legalized the industry in 2023, it was projected to take three years to surpass $6 billion.

FanDuel Sportsbook has applied for one of Missouri’s two direct mobile licenses, which allows it access to the new market without an in-state partnership. They join DraftKings, bet365, Underdog, and BetMGM in pursuing operating licenses ahead of the December 1 launch.

New Jersey Governor Phil Murphy has signed bill A4113 into law, which will ban 30 in-state colleges from partnering with sports betting operators. The ban comes as lawmakers also consider a bill to eliminate college player prop betting.

DraftKings has agreed to refund over $3 million to online casino users in Connecticut as part of a settlement for violating the state’s advertising laws. The deal doesn’t require the operator to admit guilt, as they are fighting similar allegations in other markets.