Sports Betting Industry News & Market Updates

The Baltimore City Law Department has filed a lawsuit against FanDuel and DraftKings for deceptive marketing tactics. The department accuses them of fueling the rise in problem gambling and violating the city’s Consumer Protection Order, allowing it to take legal action.

Kalshi filed lawsuits against the New Jersey and Nevada regulators over cease-and-desist letters demanding its March Madness prediction market shut down. The company argues that only the CFTC should control the controversial market, meaning the regulators’ actions are illegal.

Sports betting bill HB 1101 and HB 1047 would establish a tribal-run sports betting market in Oklahoma, despite the threat of veto from Governor Stitt. The Senate is considering a separate bill, but the two champers haven’t been able to reach a compromise.

The Mississippi Senate has officially rejected the House's sports betting bill, SB 2510. The changes would establish a regulated market and ban sweepstakes. The House and Senate will now head to a committee to consider the bill.

The Massachusetts Securities Division (MSD) has issued a subpoena to Robinhood over the sports prediction market. The move comes as Secretary of the Commonwealth Bill Gavin opened an investigation into the controversial new offering soon after its March 17 launch.

A Nebraska Senate Committee passed LR 20CA earlier this week, which would allow residents a chance to vote on legalizing sports betting in November 2026. Before qualifying for the ballot, the bill must pass three Senate votes by a two-thirds majority.

Robinhood has announced a new sports prediction market for the 2025 NCAA Tournament, thanks to a partnership with Kalshi and regulatory advice from the CFTC. The launch led to an 8% bump in Robinhood’s stock price despite the market's overall uncertainty.

A group of Republican House members sent a letter to the House State Affairs Committee requesting it shelve sports betting legislation for the 2025 session. They argued that the bills don’t have the votes, so reviewing them would waste time and money.

FanDuel Sportsbook has debuted the sports betting industry’s first AI tool for bettors wth its AceAI. The new tool allows bettors to quickly check stats, previous games, and other research to help them make smarter and more profitable bets.

DraftKings has applied with the National Futures Association (NFA) to begin offering a sports predictions market. These new markets gained popularity during Super Bowl LIX but are now under investigation from the CFTC as debate over their legality rages on.