Reports Suggest FanDuel Sportsbook in Negotiations with Kalshi
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.
The Battle Over Oklahoma Sports Betting Continues to Grow
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.
Two Operators Submit Applications for Missouri Sports Betting
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.
Senate Presses Nominee for CFTC Head On Prediction Markets
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.
All Eyes on Illinois as Lawmakers and Sportsbooks Square Off
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 Eyes Expansion into Missouri With New Partnership
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.
Past Arguments Coming Back to Haunt Kalshi in Maryland
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.
Sports Betting Alliance Shares Outrage Over New Illinois Tax
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.
Rhode Island Senate Passes Bill to Expand Sports Betting Market
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 Sports Bettors Wagered over $460 Million in April
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.