Sports Betting Industry News & Market Updates

A new bipartisan bill has been introduced in the US Senate that would ban sports prediction markets at the federal level. If passed, it would amend the CEA to ensure that sports contracts would no longer be protected.

The Mississippi Senate Gambling Committee is stalling on two mobile betting bills over financial concerns. Doubts over projected tax revenue, as well as proposed cuts for casinos, led the committee chair to shelve both House bills to expand sports betting.

The Kentucky House has passed a bill to overhaul the state's sports betting market and crack down on prediction markets. It would raise the minimum betting age to 21 and force sportsbooks that offer prediction platforms to exit the market.

MLB commissioner Rob Manfred and NCAA President Charlie Baker have issued conflicting statements over prediction markets this week. The former embraced the industry with a new partnership to help improve integrity monitoring, while the latter offers the opposite assessment.

The Wisconsin Senate voted to approve a bill to legalize mobile sports betting through tribal casinos. While many lawmakers remain concerned about the potential impact, they also acknowledged that mobile betting is already taking place in the state.

Nebraska casinos have been a signature-gathering effort to allow voters to decide on legalizing mobile sports betting. The move comes after Nebraska lawmakers failed to act, largely removing them from the process of creating a legal framework.

A federal judge has ruled that Kalshi must abide by Ohio’s sports betting laws. She rejected Kalshi’s argument that they are offering “swaps.” The ruling means the operator will need to acquire a sportsbook license for its prediction platform.

The Minnesota Senate is reviewing a bill to legalize online sports betting while protecting bettors. It would allow for 11 mobile sportsbooks, with tax revenue from the industry being used to support the state’s charitable gaming and horse racing industries.

New Zealand’s T20 World Cup campaign ended with a heavy final defeat to India, in a result that also gave sports bettors plenty to unpack around pre-match expectations, inflated totals and the Black Caps’ future tournament pricing.

The Michigan AG has filed a lawsuit against Kalshi, alleging it is illegally offering gambling through sports prediction markets. It asks the court to grant it the power to ban Kalshi from offering sports markets in the state.