Sports Betting Industry News & Market Updates

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.

This week, a pair of sports betting bills failed on the Georgia House floor. The first bill creates a legal framework for the industry, while the other proposes creating a ballot initiative for voters to decide on legalizing it.

The Mississippi House passed the Mississippi Mobile Sports Wagering Act, which would legalize mobile sports betting, by a vote of 88-10. The Senate will have until the end of the 2025 legislative session on April 6 to pass the bill.

The Nevada Gaming Control Board (NGCB) has issued a cease-and-desist letter to KalshiEX LLC, ordering them to take down all sports-related prediction markets. The order is meant to protect the state’s thriving sports betting industry and avoid accelerating the growth of problem gambling.