Sports Betting Industry News & Market Updates

A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.

A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.

A US Court has issued a temporary restraining order for the CFTC against Arizona, forcing the state to halt its criminal prosecution of Kalshi. The Court confirmed an earlier ruling for Kalshi that its platform is protected by federal law.

Wisconsin Governor Tony Evers has signed a bill that will create a tribal-centric mobile sports betting market. While his signature ends years of legislative deadlock, it has also raised concerns that commercial operators won’t join the new market.

Kentucky has officially passed a new bill that will significantly alter its sports betting market. Although Governor Beshear vetoed, the state legislature easily overrode it. It includes a ban on in-state college player props while raising the betting age to 21.

DraftKings and FanDuel used their political capital to help revise key proposals from a new Kentucky bill. The effort removed penalties for sportsbooks that offer prediction platforms, as well as a ban on the practice of limiting winning bettors.

Kalshi’s trademark designates it as part of the sports betting industry, despite its denial of offering gambling. The operator said the move was insignificant because it would force the USPTO to accept that the industry class is relevant to Kalshi.

Wisconsin Governor Tony Evers has promised a decision on online sports betting this week. While he has been supportive of online sports betting, he has refused to commit to signing the current effort, which would create a tribal-centric market.

The CFTC has filed lawsuits against Arizona, Connecticut, and Illinois over their legal attacks against sports prediction market operators. All three states have issued cease-and-desist letters to prediction operators, and Arizona has also filed criminal charges against Kalshi.

A powerful California tribal gaming group has announced plans to put sports betting on the ballot in 2028. Pressure from prediction markets led tribes to rethink legalizing the industry, though the effort will likely face strong opposition.