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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.
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.
Kalshi saw over $300 million in sports prediction trades in the first week of the NFL season, thanks in part to its new betting markets. By comparison, sportsbooks saw a drop in app downloads compared to the same week last year.
Caesars and bet365 sportsbook have both announced new surcharges for all wagers accepted in Illinois in response to the state’s controversial per bet tax. Now all ten of the state’s online sportsbooks have enacted changes to combat the new tax.
Fanatics Sportsbook stunned the sports betting industry by receiving over 300% more wagers in New York for August compared to July, topping rival FanDuel. However, the sportsbooks only generated $16 million in gross gaming revenue, which is almost $50 million less than FanDuel.
PrizePicks announced that its DFS platform will only allow for peer-to-peer games going forward. The move is an attempt for the operator to survive crackdowns on the industry by states, including a full ban recently announced in California.
Gambling regulators from Nevada and Ohio have both warned sportsbooks that they could lose their licenses if they decide to offer sports prediction markets. The warnings come just days after FanDuel announced it would be launching a non-sports prediction platform.
Fanatics Sportsbook has announced it has partnered with Boyd Gaming in Missouri, allowing it to apply for one of the market’s sports betting licenses. The deal will also allow the operator to open retail sportsbooks at Boyd’s two Ameristar casinos.
A recent poll revealed that California residents support legalizing sports betting as lawmakers and tribes work to negotiate a regulatory framework. The poll offers hope that the two sides can reach a deal to include sports betting in the November 2026 election.
Wisconsin’s Ho-Chunk Nation has filed a lawsuit against Kalshi, claiming its sports prediction offerings violate tribal and state gambling laws. The tribe also claims the low minimum age requirement for these markets is creating a dangerous problem gambling crisis for young Americans.
FanDuel announced it will begin offering prediction markets for the US economy later this year, but has not confirmed intentions to launch one for sports. The announcement makes it the first sportsbook to enter the new industry, beating top rival DraftKings to market.
