Photo by Carol M. Highsmith, Public domain, via Wikimedia Commons
Related News
New Mexico Files Lawsuit Against Kalshi Over Sports Markets
New Mexico has filed a lawsuit against Kalshi over its sports prediction markets, arguing they violate state laws. It closely resembles lawsuits from several other states who have also targeted Kalshi and its rivals over the last year.
Court Ruling on Sorsby Scandal Creates Nightmare for NCAA
A Texas court ruling will allow Brenden Sorsby to play for Texas Tech this upcoming season, despite placing over 1,000 wagers with online sportsbooks in the last four years. The ruling sets a dangerous precedent that could haunt the NCAA.
Illinois Lawmakers Approve New Tax for Sports Contracts
Illinois lawmakers have approved a budget that will add a new per-transaction tax on sports contracts. The tax was added despite the state not having legal authority to enforce it, and is likely to result in more lawsuits from the industry.
Arkansas Sees Record Handle After Sports Betting Expansion
Arkansas sports betting placed over $100 million in wagers in April, setting a new monthly record. The success came as FanDuel and DraftKings had its first full month in the market, though they didn’t contribute much tax revenue.
Rhode Island Approves Bally’s for Mobile Betting License
The Rhode Island Lottery has awarded Bally’s with a mobile betting license. It will launch in November, becoming the first new sportsbook to enter the market since 2019. However, lawmakers fear the state’s high tax rate will prevent future expansion.
Tennessee Tests CFTC By Stepping Up Fight Against Kalshi
Tennessee’s Attorney General has escalated its fight against Kalshi, arguing the operator is violating the state’s sports betting laws. A New Jersey judge allowed the operator’s platform to remain live, a decision the AG hopes an appeals court will overturn.
Polymarket Files With the CFTC to Launch Parlay Feature
Polymarket has filed with the CFTC to launch a new parlay-style feature for its sports markets. The move is meant to help it compete with Kalshi and mobile sportsbooks, and was made despite the tumultuous future facing the prediction industry.
North Carolina Lawamkers Consider Tax Hike for Sportsbooks
North Carolina lawamkers are reportedly considering a tax hike for sportsbooks as part of its upcoming budget. They are considering raising the current 18% rate by up to 12%, or adding a per-wager tax similar to the one in Illinois.
CFTC Sues Minnesota Over Its New Prediction Market Ban
The CFTC has filed a lawsuit against Minnesota over its new restrictions on prediction markets, which would ban markets involving sports and politics. The states’ new rules allow the state to file criminal charges against operators who violate them.
Wisconsin Tribes Set to Pick Up a Big Win Against Kalshi
A US District Judge has ruled that Wisconsin tribes have the right to sue Kalshi over sports prediction markets. While he rejected a request to force Kalshi out while their lawsuit is settled, he found the operator is likely violating IGRA.
Will Sportsbooks Look to Enter Wisconsin’s Mobile Market
Wisconsin has officially paved the way for tribal-run mobile sports betting, but fears remain that commercial operators won’t join. Find out the latest here!
Michigan Senate Strips Per-Wager Tax From Budget Proposal
The Michigan Senate passed the latest budget, but rejected a proposed per-wager tax for sportsbooks. Lawmakers from both parties worried the change would shrink the state’s sports betting market, despite the results seen from a similar tax in neighboring Illinois.
Flutter Ousters FanDuel CEO After Lowering 2026 Guidance
Flutter has removed Amy Howe as FanDuel’s CEO as it looks to invest more in prediction markets. President Christian Genetski will take over the role after playing a crucial role in the expansion of mobile betting in the US.
Are The Walls Closing in for the Prediction Industry
A recent bipartisan effort by attorneys general and an order in Texas have the prediction industry reeling as May begins. The two actions show the waning support for the controversial platforms, and could lead it to soften its stance going forward.
CFTC Expands Legal Fight Over Sports Prediction Markets
The CFTC has expanded its legal fight to protect prediction markets by suing New York and Wisconsin. The regulator claims both states have illegally targeted operators despite lacking any regulatory authority. Arizona, Connecticut, and Illinois are also facing similar lawsuits.
New Zealand Racing Integrity Board Steps Up Online Gambling Focus
New Zealand’s Racing Integrity Board is preparing for a changing gambling market as online casino regulation moves ahead.
Ohio Considering Bill to Clamp Down on Prediction Industry
The Ohio Senate is considering a new bill that would require prediction platforms to be subject to the same regulations and taxes as sportsbooks. The proposal comes as the state’s gambling regulator, Kalshi, and the CFTC battle in court.
Oklahoma Rejects Sports Betting Bill, Sets Sights on 2027
A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.
Proposed Ban on Prop Bets Stripped From Colorado Bill
A Colorado Senate committee has rejected part of a bill that would have banned prop bets, which were aimed at curbing problem gambling. Among the biggest reasons for the rejection was the projected financial impact on the state’s tax revenue.
Judge Halts Arizona’s Criminal Case Against Kalshi
A US Court has issued a temporary restraining order for the CFTC against Arizona, forcing the state to halt its criminal prosecution of Kalshi. The Court confirmed an earlier ruling for Kalshi that its platform is protected by federal law.
Mobile Sports Betting is Officially Coming to Wisconsin
Wisconsin Governor Tony Evers has signed a bill that will create a tribal-centric mobile sports betting market. While his signature ends years of legislative deadlock, it has also raised concerns that commercial operators won’t join the new market.
Big Changes Are Coming to Kentucky's Sports Betting Market
Kentucky has officially passed a new bill that will significantly alter its sports betting market. Although Governor Beshear vetoed, the state legislature easily overrode it. It includes a ban on in-state college player props while raising the betting age to 21.
DraftKings, FanDuel Manage to Avoid Kentucky Crackdown
DraftKings and FanDuel used their political capital to help revise key proposals from a new Kentucky bill. The effort removed penalties for sportsbooks that offer prediction platforms, as well as a ban on the practice of limiting winning bettors.
Kalshi Confirms Status as Bookmaker in Trademark Filing
Kalshi’s trademark designates it as part of the sports betting industry, despite its denial of offering gambling. The operator said the move was insignificant because it would force the USPTO to accept that the industry class is relevant to Kalshi.
Wisconsin Mobile Betting Bill to Learn Its Fate This Week
Wisconsin Governor Tony Evers has promised a decision on online sports betting this week. While he has been supportive of online sports betting, he has refused to commit to signing the current effort, which would create a tribal-centric market.
CFTC Ramps Up Defense Of Sports Contracts With New Lawsuits
The CFTC has filed lawsuits against Arizona, Connecticut, and Illinois over their legal attacks against sports prediction market operators. All three states have issued cease-and-desist letters to prediction operators, and Arizona has also filed criminal charges against Kalshi.
California Tribes to Pursue Legal Sports Betting in 2028
A powerful California tribal gaming group has announced plans to put sports betting on the ballot in 2028. Pressure from prediction markets led tribes to rethink legalizing the industry, though the effort will likely face strong opposition.
Kentucky House Passes Bill To Overhaul Its Betting Market
The Kentucky House just passed a bill that would overhaul its sports betting market, sending it to the Governor for his signature. It would make several changes, including for the minimum betting age, college player props, and prediction platforms.
US Senate Considering Proposal to Ban Sports Predictions
A new bipartisan bill has been introduced in the US Senate that would ban sports prediction markets at the federal level. If passed, it would amend the CEA to ensure that sports contracts would no longer be protected.
Mississippi Online Betting Bills Stall in Senate Committee
The Mississippi Senate Gambling Committee is stalling on two mobile betting bills over financial concerns. Doubts over projected tax revenue, as well as proposed cuts for casinos, led the committee chair to shelve both House bills to expand sports betting.
Kentucky Bill Risks Tax Revenue to Fight Prediction Industry
The Kentucky House has passed a bill to overhaul the state's sports betting market and crack down on prediction markets. It would raise the minimum betting age to 21 and force sportsbooks that offer prediction platforms to exit the market.
MLB and NCAA Offer Conflicting Statements Over Predictions
MLB commissioner Rob Manfred and NCAA President Charlie Baker have issued conflicting statements over prediction markets this week. The former embraced the industry with a new partnership to help improve integrity monitoring, while the latter offers the opposite assessment.
Wisconsin Senate Votes in Favor of Mobile Sports Betting
The Wisconsin Senate voted to approve a bill to legalize mobile sports betting through tribal casinos. While many lawmakers remain concerned about the potential impact, they also acknowledged that mobile betting is already taking place in the state.