Sports Betting Industry News & Market Updates

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.

New York’s State Gaming Commission’s weekly revenue report showed a record handle for Week 1 of the NFL season. However, New York bettors won at a high rate, leading to the second-lowest weekly GGR of the fiscal year.

Prime Video viewers can now link their FanDuel accounts to their Thursday Night Football Streams. This will allow them to track backs and live odds throughout the game. The feature is part of FanDuel's broader focus on the NFL season.

The football betting season is underway, but it features higher tax rates and a more robust prediction market industry. The season will help show the impacts of both, and could lead states to reconsider their tax systems.

US sports leagues sent a letter asking regulators to deliver lifetime sports betting bans for harassment. It also highlighted examples of how the issue is impacting athletes, coaches, officials, and other staff. Currently, only four states have implemented lifetime bans.

The Minnesota Vikings have announced BetMGM as their official gambling partner in Canada. The deal will allow the operator to use the Vikings brand on its sportsbooks and casino platforms, which are currently available in Alberta and Ontario.

A group named Save Nebraska Sports launched this week, promising to fight against the legalization of sports betting. The group consists of lawmakers and former Nebraska Cornhusker football coaches, who will encourage voters to reject the industry in November.

Missouri saw fewer wagers in July than the month before, but still saw a spike in tax revenue from the World Cup. Retail sports betting saw wagers decline for the fifth straight month, with many bettors opting to use online sportsbooks.