Photo by Tim Evanson, CC BY-SA 2.0, via Wikimedia Commons
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.
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 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 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.
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.
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 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 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.
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.
Disney and Penn Entertainment announced they have mutually agreed to end their partnership to operate ESPN Bet, which will close across the US on December 1. ESPN has agreed to make DraftKings its official betting partner, providing odds and more.
A recent report showed that Kalshi’s sports contract pricing still lags behind the sports betting industry. This, combined with increased competition and mounting lawsuits, has led many industry analysts to wonder if the giant is in trouble.
A massive betting scandal involving the NBA has drawn the attention of Congress. Lawmakers have reached out to officials from the country’s top sports leagues over concerns about their relationship to sports betting, forcing operators to make a difficult choice.
The NBA’s Oklahoma City Thunder has proposed a legal sports betting market in Oklahoma. It would allow the NBA team to share licensing rights and revenue with tribal gaming groups that are open to working with the team.
DraftKings has acquired CFTC-licensed Railbird Exchange after months of negotiations, paving the way for the operator to launch a prediction market platform. The purchase comes soon after FanDuel confirmed it would launch its own prediction markets by the end of 2025.
The NHL has announced it has made Kalshi and Polymarket the league’s official sports prediction market partners, making it the first league to do so. The deal will allow for in-game and on-screen NHL events, including the Winter Classic.
Christian Pulisic injured his hamstring during a USMNT friendly against Australia, leaving questions about his status ahead of the 2026 World Cup. The team is now on edge, waiting for an update on the injury, along with Pulisic’s club, AC Milan.
BetMGM CEO Bill Hornbuckle confirmed that the company is still avoiding sports prediction markets and continues to follow state sports betting regulations. The comments also reaffirmed MGM’s belief that the controversial industry is not guaranteed to succeed.
Governor Newsom signed a bill to ban sweepstakes games, which will force operators to exit California before January 1 or face legal action. No state lawmakers voted against the ban, which has been driven by support from the tribal gaming community.
Flutter confirmed that FanDuel Sportsbook will launch a new prediction market platform before the end of 2025, but has not confirmed if it will include sports. Once the markets go live, FanDuel will become the first major sportsbook to offer the controversial markets.
The Pennsylvania Gaming Control Board sent a letter to the state’s congressional representatives, requesting they take action against sports prediction markets. The move comes after the state joined several others in warning sportsbooks against offering the controversial markets.
An NCAA Division I Committee has approved a proposal to allow staff and athletes to wager on pro sports, sending it to Division II & III committees for review. If they vote to support the move, it will go into effect on November 1.
The US has seen sports prediction markets take off over the last year, but the CFTC has refused to step in. That has led to questions around how it will regulate the industry, and how it will handle problem gambling.
The New York Assembly is considering a ban on sportsbooks from setting limits on bettors who are on a winning streak. Operators insist this practice is critical for their success as well as their ability to offer competitive odds and promotions.
Underdog has announced a new partnership with the Kansas City Royals, allowing it to enter Missouri’s sports betting market ahead of the December 1 launch. The two sides already had an advertising partnership in place, which is now expanded to include sports betting.
The CFTC issued an advisory note warning prediction market operators that market limitations are likely to emerge, ending years of silence on the industry. However, the regulator's stance may change once a new leader is approved to take over.
Kalshi has adopted a legal argument used by the Seminole Tribe in Florida to fend off lawsuits from tribal groups across the US. It argues that online sports betting takes place where the server is located, not where the wager is placed.
The Illinois Gaming Board has released July’s sports betting numbers, which show annual growth of 12% and an additional $5 million in tax revenue. July was the first month when the state’s new per-bet tax was in place.
Democrat Rep. Vikki Goodwin has announced her candidacy for Lt. Governor with the goal of legalizing sports betting. The current office holder and rival candidate, Dan Patrick, has been a vocal opponent of any expansion of gambling in Texas.
The Arizona Department of Gaming sent a letter to the DFS and sportsbook operators in the state. The letter warned that state licenses could be revoked if an operator is offering sports prediction markets, even if they aren’t available in Arizona.
Kalshi announced it will be launching player prop bet markets for the NFL, covering passing, rushing, receiving, combined, defensive, and special teams stats. No CFTC approval is required, allowing the new markets to go live in all 50 states at any time.
Hard Rock Bet has announced a new partnership with Genius Sports, which will help the sportsbook to massively upgrade live betting and streaming options. Genius has a proven track record while working with DraftKings, FanDuel, and bet365.
The AGA has released the results of a study showing that the public overwhelmingly views sports prediction markets as offering sports betting. The results are in part due to Kalshi’s advertising, which claims to offer legal sports betting in all 50 states.
ESPN Bet has filed an application for an online sports betting license in Missouri, putting them on track to launch when the market goes live on December 1. The expansion comes as the battle over the platform’s future rages on.
