Sports Betting Industry News & Market Updates

New Mexico Rep. John Block has asked the tribes to open talks over legalizing mobile sports betting. He cited the growth of federally regulated sports prediction markets, which offer residents a legal way to wager on sports.

North Carolina lawmakers passed a bill proposing new tax reporting requirements for sportsbooks. The goal is to help the state audit gambling winnings claimed on tax returns, keeping residents honest while also boosting tax revenue generated by the industry.

The NFL announced it will be canceling the 2026 supplemental draft due to Brendan Sorsby. In a letter to the quarterback, officials expressed concerns that he was attempting to sidestep his gambling violations. Sorsby’s attorney promised to challenge the decision.

South African gambling authorities are urging consumers to stay alert as fake betting apps and cloned gambling websites target sports fans during the 2026 FIFA World Cup. Regulators say scammers are becoming increasingly sophisticated in their attempts to imitate legitimate operators.

The Coalition for Fair Markets has sued Kentucky over its new 14.25% tax on prediction operators passed by lawmakers back in April. The group argues the tax is discriminatory, despite Kentucky cracking down on all forms of sports betting.

Wisconsin’s Governor has opened talks with 11 local tribes to negotiate the launch of mobile sports betting. The two sides need to agree on a legal framework for the new market, including revenue-sharing requirements for commercial operators.

Nevada Rep. Dina Titus called out the CFTC’s defense of prediction markets on social media, accusing the regulator of corruption. She rejected the regulator’s proposed regulations for the industry and called for Congress to take action to rein it in.

New Mexico has filed a lawsuit against Kalshi over its sports prediction markets, arguing they violate state laws. It closely resembles lawsuits from several other states who have also targeted Kalshi and its rivals over the last year.

A Texas court ruling will allow Brenden Sorsby to play for Texas Tech this upcoming season, despite placing over 1,000 wagers with online sportsbooks in the last four years. The ruling sets a dangerous precedent that could haunt the NCAA.

Illinois lawmakers have approved a budget that will add a new per-transaction tax on sports contracts. The tax was added despite the state not having legal authority to enforce it, and is likely to result in more lawsuits from the industry.