CFTC Nominee Promises to Accept Court Orders on Predictions
New CFTC nominee Michael Selig sat before a Senate committee this week. A major topic was sports prediction markets and how Selig would handle the debate over them. The nominee promised to abide by whatever rulings the courts provide.
Court Rejects Request to Move Baltimore Sportsbook Lawsuit
A Maryland District Court rejected a request from the city of Baltimore to move a lawsuit against FanDuel and DraftKings to federal court. The ruling determined that state courts should decide the issue since Massachusetts sets its own sports betting laws.
FanDuel, DraftKings Dismiss Idea of Licenses Being Pulled
Leaders from FanDuel and DraftKings expressed confidence that their sports betting licenses will remain active, despite warnings from state regulators. Both have assessed the risk before confirming the launch of sports prediction markets and found little risk to their booming sports betting business.
FanDuel and DraftKings Confirm They Are Leaving the AGA
FanDuel and DraftKings have announced their exit from the American Gaming Association. The move comes after the operators were unable to reach a common ground with the group on adding sports betting regulations for sports prediction markets.
FanDuel and DraftKings Planning for Launch of Sports Contracts
FanDuel and DraftKings have both confirmed plans to offer sports prediction markets in the coming months. While limiting the offering to states without legal online sports betting, the launch will violate warnings from several state gambling regulators.
California Court Rejects Tribal Lawsuit Seeking to Ban Kalshi
A California court has rejected a request from three tribes to ban Kalshi’s prediction market platform on their lands, claiming a violation of IGRA. The court held that, because sports contracts aren’t considered gambling, they cannot violate tribal gaming laws.
MLB and Sportsbooks Agree to Limit Micro-Betting Amid Scandal
The MLB has reached a deal with the top US sportsbooks to place new limits on micro-betting after a recent scandal involving two active players. The changes include setting a $200 limit on those wagers and banning them from being added to parlays
Federal Prosecutors Indict Pair of Cleveland Guardian Pitchers
Federal Prosecutors have filed indictments against Cleveland Guardians pitchers Luis Ortiz and Emmanuel Clase over a betting scandal involving micro-betting. Both are accused of spot-fixing and are facing up to 60 years in federal prison.
DraftKings Touts ESPN, Prediction Deals After Ugly NFL Losses
DraftKings CEO Jason Robins reported losses of around $300 million from the NFL season, but touted a new deal with ESPN and the upcoming launch of its prediction platform. He believes the company is setting itself up for big things in 2026.
Wisconsin Lawmakers Begin Debate Over Sports Betting Bill
The Wisconsin Senate Committee on Agriculture and Revenue began discussions over Senate Bill 592 this week. The bill would allow tribal gaming groups to start offering online sports betting, with servers hosted on their lands.