Sports Betting Industry News & Market Updates

The Michigan Senate passed the latest budget, but rejected a proposed per-wager tax for sportsbooks. Lawmakers from both parties worried the change would shrink the state’s sports betting market, despite the results seen from a similar tax in neighboring Illinois.

Flutter has removed Amy Howe as FanDuel’s CEO as it looks to invest more in prediction markets. President Christian Genetski will take over the role after playing a crucial role in the expansion of mobile betting in the US.

A recent bipartisan effort by attorneys general and an order in Texas have the prediction industry reeling as May begins. The two actions show the waning support for the controversial platforms, and could lead it to soften its stance going forward.

The CFTC has expanded its legal fight to protect prediction markets by suing New York and Wisconsin. The regulator claims both states have illegally targeted operators despite lacking any regulatory authority. Arizona, Connecticut, and Illinois are also facing similar lawsuits.

New Zealand’s Racing Integrity Board is preparing for a changing gambling market as online casino regulation moves ahead.

The Ohio Senate is considering a new bill that would require prediction platforms to be subject to the same regulations and taxes as sportsbooks. The proposal comes as the state’s gambling regulator, Kalshi, and the CFTC battle in court.

A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.

A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.

A US Court has issued a temporary restraining order for the CFTC against Arizona, forcing the state to halt its criminal prosecution of Kalshi. The Court confirmed an earlier ruling for Kalshi that its platform is protected by federal law.

Wisconsin Governor Tony Evers has signed a bill that will create a tribal-centric mobile sports betting market. While his signature ends years of legislative deadlock, it has also raised concerns that commercial operators won’t join the new market.