Sports Betting News

An independent review has determined that Penn Entertainment and its board acted in the company’s best interest when choosing to shrink its board. The report rejects HG Vora's claim that the decision was an attempt to block their influence.

Fanatics stunned the industry today by launching a new prediction market platform in ten US markets. The launch is in partnership with Crypto.com and includes some states with legal sports betting. More expansion is coming soon, with Fanatics targeting larger states.

ESPN has announced that it will soon integrate DraftKings’ new prediction platform into its products. The move is part of the deal the two companies struck last week, which made DraftKings the company’s official betting partner.

Missouri’s new sports betting market went live on Monday with over 250,000 active accounts, adding just under 200,000 new users during the first day. GeoComply confirmed it received around 2.6 million location checks in the state.

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.

A Maryland District Court rejected a request from the city of Baltimore to move a lawsuit against FanDuel and DraftKings to federal court. The ruling determined that state courts should decide the issue since Massachusetts sets its own sports betting laws.

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.