Articles by Michael Savio

An Ohio budget proposal was submitted to double the state’s tax rate from 20% to 40%, but it was stripped after failing to gain support among lawmakers. The state is now shifting focus to protecting the industry as sports prediction markets continue to rise.

The Tennessee Sports Wagering Council has sent a letter requesting that the CFTC shut down controversial sports prediction trading markets in the state. Tennessee is the ninth state to take action against these markets, but it may not have the authority to do so.

A group of North Carolina republicans has introduced a budget proposal that would make significant changes to the state’s sports betting tax revenue. The proposal would double the operator tax rate from 18% to 36%, and change how the revenue is distributed.

A Michigan regulator has issued a new round of cease-and-desist letters to 13 illegal operators, demanding they shut down their platforms within 14 days. The state believes these operators are creating a dangerous alternative to its regulated gambling markets.

The HI House has rejected Senate changes to a sports betting bill, sending it to a conference where members from both bodies will attempt to reach a deal. The disagreement centers on operator tax rates and licensing fees set by the Senate.

The Kansas House of Representatives has passed an amendment prohibiting the Lottery from negotiating with sportsbooks to renew their sports betting licenses. The order covers the next two years, meaning no negotiations can occur until 2027.

Kalshi has announced that its March Madness prediction market saw over $500 million in contracts. The company also scored a key legal win this week when a Nevada Judge ruled that the state does not have the power to push the operator out.

The Illinois House is reviewing SB0118, which would add gambling addiction to the Substance Use Disorder Act, unlocking tools to fight the rising problem. The Senate unanimously passed the bill, giving proponents hope that it will soon become law.

Lawmakers in Hawaii’s Senate have surprised many by passing sports betting bill HB1308, which would legalize and set up a framework for the industry. The House must approve changes before the bill is sent to the Governor.

A trade war has led to massive tariffs enacted worldwide, threatening to send the US into a recession and test the thriving sports betting industry. While online operators have been able to weather the storm so far, retail sportsbooks are already seeing massive losses.