Sports Betting Industry News & Market Updates

The Chairman of the Tennessee Sports Wagering Council expressed his frustration over sportsbook violations. He blasted the “human error” excuse and wondered if violations are truly being addressed. His words highlight an issue that is top of mind for regulators.

Penn has reached a deal with the NFL to make theScore Bet its gambling partner in Canada. The deal will allow the casino and sportsbook platform to access NFL trademarks and grant exclusive advertising rights throughout the season.

Sports betting could look very different depending on the results of three crucial races. The first two are gubernatorial races in Wisconsin and South Carolina, while the third is for control of the U.S. Congress starting in 2027.

NBA star Victor Wembanyama told reporters he won’t be partnering with sports betting platforms. He said he's focused on promoting positivity and shared his disappointment with the deals his fellow stars have made with sportsbooks and prediction markets.

Fanatics’ CEO has said the company will spend up to $1 billion on marketing for its sports betting platforms. The goal is to help close the gap with DraftKings and FanDuel in sports betting and with Kalshi in prediction markets.

North Carolina's monthly handle surpassed $500 million in August for the twelfth straight month. It generated over $11 million in tax revenue and showed that the state’s market is continuing to grow, despite a 5% tax hike for sportsbooks on July 1.

Illinois saw over $1 billion in sports wagers in July, thanks to the World Cup. It was the twelfth consecutive month the state has topped $1 billion. Unfortunately, the busy month generated the lowest tax revenue total since September 2025.

Wisconsin continues to fight legal challenges to its effort to launch online sports betting. One lawsuit is arguing the state violated its own laws by expanding gambling under IGRA instead of a public vote, despite significant opposition.

The Sixth Circuit delivered a major blow to Kalshi, ruling for Tennessee and Ohio in their lawsuits. It found that the operator failed to prove that its sports contracts were “swaps,” giving the states the right to regulate them.

Some members of Congress have joined with non-profits to launch a new movement to address problem gambling. It will focus on working with federal and state lawmakers to make changes. The movement will also build public pressure to make changes.