Sports Betting Industry News & Market Updates

A recent report showed that Kalshi’s sports contract pricing still lags behind the sports betting industry. This, combined with increased competition and mounting lawsuits, has led many industry analysts to wonder if the giant is in trouble.

A massive betting scandal involving the NBA has drawn the attention of Congress. Lawmakers have reached out to officials from the country’s top sports leagues over concerns about their relationship to sports betting, forcing operators to make a difficult choice.

The NBA’s Oklahoma City Thunder has proposed a legal sports betting market in Oklahoma. It would allow the NBA team to share licensing rights and revenue with tribal gaming groups that are open to working with the team.

DraftKings has acquired CFTC-licensed Railbird Exchange after months of negotiations, paving the way for the operator to launch a prediction market platform. The purchase comes soon after FanDuel confirmed it would launch its own prediction markets by the end of 2025.

The NHL has announced it has made Kalshi and Polymarket the league’s official sports prediction market partners, making it the first league to do so. The deal will allow for in-game and on-screen NHL events, including the Winter Classic.

Christian Pulisic injured his hamstring during a USMNT friendly against Australia, leaving questions about his status ahead of the 2026 World Cup. The team is now on edge, waiting for an update on the injury, along with Pulisic’s club, AC Milan.

BetMGM CEO Bill Hornbuckle confirmed that the company is still avoiding sports prediction markets and continues to follow state sports betting regulations. The comments also reaffirmed MGM’s belief that the controversial industry is not guaranteed to succeed.

Governor Newsom signed a bill to ban sweepstakes games, which will force operators to exit California before January 1 or face legal action. No state lawmakers voted against the ban, which has been driven by support from the tribal gaming community.

Flutter confirmed that FanDuel Sportsbook will launch a new prediction market platform before the end of 2025, but has not confirmed if it will include sports. Once the markets go live, FanDuel will become the first major sportsbook to offer the controversial markets.

The Pennsylvania Gaming Control Board sent a letter to the state’s congressional representatives, requesting they take action against sports prediction markets. The move comes after the state joined several others in warning sportsbooks against offering the controversial markets.