Photo by Michael Tighe, CC0, via Wikimedia Commons
A group of 36 bipartisan state AGs has formed a coalition to help push out sports prediction market operator Kalshi. The group filed a strongly worded amicus brief in a New Jersey court where a lawsuit against Kalshi is being heard.
A Wyoming legislative committee has proposed doubling the state’s tax rate for online sportsbooks to 20%, putting the state at the national average. The rate is currently set at 10%, which has enabled the market to exceed expectations since its launch in 2021.
Reports surrounding the sports betting industry allege that FanDuel Sportsbook is in discussions with Kalshi as it explores launching a sports prediction market platform. While the company hasn’t confirmed this, leadership has expressed interest in pursuing this new industry.
Oklahoma Governor Kevin Stitt told reporters that he remains unwilling to support any sports betting bill that proposes a tribal-run market. He blamed the tribes for delaying the industry, pointing to their rejection of his previous proposals.
DraftKings and Underdog have both submitted applications for sports betting operating licenses in Missouri, with the market set to launch on December 1. They are the first sportsbooks to apply, though more are expected to join them soon.
The Senate Agriculture Committee held a hearing to question Brian Quintez, who has been nominated to take over the CFTC. Most of the questions focused on sports prediction markets and his ties to prominent operator Kalshi.
A battle is brewing between the Illinois lawmakers and online sportsbooks over a new “per bet” tax included in the state’s budget. FanDuel has fired the first volley by announcing a new surcharge for all bets placed in the state.
BetMGM has partnered with Century Casinos in Missouri to pursue an online sports betting license. The operator is the second to reach a deal in the state, whose sports betting market is set to launch on December 1.
A Maryland judge questioned Kalshi’s claim that only the CFTC has jurisdiction over sports prediction markets. He cited the company’s previous legal arguments, which claimed that sports betting doesn’t have the economic impact to qualify as a commodity.
The Sports Betting Alliance has accused Illinois lawmakers of discriminatory practices for approving a new tax on each wager accepted by online sportsbooks. The group warned that bettors in the state will feel the impact the most.
The Rhode Island Senate passed a bill to allow for the creation of two to five additional sports betting licenses by a vote of 30-2. The bill will now head to the House, where leadership has opposed previous expansion proposals.
Tennessee has reported a sports betting handle of $463.6 million for April. That number is down compared to the month before, but up 21.7% year-over-year. The state’s 1.85% privilege tax generated approximately $8.5 million in tax revenue.
Governor Wes Moore signed the state’s new budget into law, which raises the tax rate for online sports betting operators from 15% to 20%. This is a far smaller hike after Moore’s initial proposal called for the rate to double to 30%.
The North Carolina House released a budget that did not include a tax hike for sportsbook operators, rejecting a Senate proposal to double it. Both sides want to increase funding for UNC-system schools, but disagree on how.
The Tennessee Sports Wagering Council sent a cease-and-desist letter to offshore sportsbook BetOnline as part of a wider effort to protect its regulated market. The sports betting regulator has also contacted the CFTC to shut down sports prediction markets.
The Missouri Gaming Commission has announced that the state’s sports betting market will launch on December 1 as operators begin applying for licenses. That date is also the deadline for when the market must go live, leaving little room for error.
A new Ohio Senate bill proposes imposing a 2% privilege tax on the sports betting handle of all operators in the state to boost the industry's tax revenue. The bill is being seen as an alternative to a massive tax hike.
Penn Entertainment has sent a letter to investors, firing back at HG Vora, who has accused leadership of being self-serving. The letter outlines the company's plans for iGaming and ESPN Bet and argues that HG Vora has alternative motives.
Missouri has officially opened the application period for sports betting operators to apply for licenses before the new market launches. A total of 19 retail and 21 mobile licenses will be available, and the market is set to launch by December 1.
One of Penn Entertainment’s largest shareholders has called for a change in leadership just days after CEO Jay Snowden hosted an optimistic earnings call. The infighting is over the future of ESPN Bet, which has yet to live up to Snowden’s projections.
The NCAA may end its ban on pro sports betting amid concerns over rises in problem gambling and betting scandals involving coaches and athletes. The Division 1 council is currently considering the change and could make a decision within the next month.
The Oklahoma Senate could not conduct a floor vote for a pair of sports betting bills before the legislative session ended this week. However, the Senate could bring the bills back up for a vote in the 2026 session, which starts in February.
Penn Entertainment has announced that it will integrate its ESPN Bet platform with ESPN Fantasy Sports, one of the world's largest fantasy platforms. The integration details are unknown, but it is expected to be complete before the NFL season.
The Colorado Senate passed HB 1311 to tax sportsbooks on promo bets. However, new amendments will need to be approved by the House during the 2026 legislative session. If passed, the bill would go into effect in July 2026.
The NCAA penalized Iowa State University football staffers who placed over 6,000 illegal wagers on sports. This is the second betting scandal the school has faced over the last few years, leading some to wonder if more penalties could be coming.
Two sports betting bills are heading for a Senate floor vote in Oklahoma. One would legalize sports betting, which Governor Stitt has promised to veto. The other would circumvent Stitt and put the issue on the November 2026 ballot.
The Louisiana House is considering raising the sports betting operator tax rate from 15% to 32.5%. A proposed bill would create the SPORT Fund to help support athletic programs for the state’s Division I colleges.
Nebraska Senator Eliot Bostar has withdrawn bill LR 20CA from the state legislature, which would have put legal sports betting on the November 2026 ballot. The bill was projected to be three votes short of the 30 needed to pass.
The NCAA has issued a show-cause penalty to ex-Baylor official Sam Hancock after he improperly wagered almost $3,000 on DFS sites. He will need to go through gambling programs and counseling before he can work for another NCAA school.
A SC House Subcommittee held its first hearing on bill H3625, which would create a regulated sports betting market. The bill faces staunch opposition, including from the Governor, who has promised to veto any bills expanding gambling in the state.
The Colorado House is currently reviewing bill HB 1311, which would tax online sportsbooks on promotional bets. This is projected to raise tax revenue generated by the industry by about 30%, helping to fund the state’s critical water projects.
An Ohio budget proposal was submitted to double the state’s tax rate from 20% to 40%, but it was stripped after failing to gain support among lawmakers. The state is now shifting focus to protecting the industry as sports prediction markets continue to rise.
The Tennessee Sports Wagering Council has sent a letter requesting that the CFTC shut down controversial sports prediction trading markets in the state. Tennessee is the ninth state to take action against these markets, but it may not have the authority to do so.
