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The CFTC issued an advisory note warning prediction market operators that market limitations are likely to emerge, ending years of silence on the industry. However, the regulator's stance may change once a new leader is approved to take over.
Kalshi has adopted a legal argument used by the Seminole Tribe in Florida to fend off lawsuits from tribal groups across the US. It argues that online sports betting takes place where the server is located, not where the wager is placed.
The Illinois Gaming Board has released July’s sports betting numbers, which show annual growth of 12% and an additional $5 million in tax revenue. July was the first month when the state’s new per-bet tax was in place.
Democrat Rep. Vikki Goodwin has announced her candidacy for Lt. Governor with the goal of legalizing sports betting. The current office holder and rival candidate, Dan Patrick, has been a vocal opponent of any expansion of gambling in Texas.
The Arizona Department of Gaming sent a letter to the DFS and sportsbook operators in the state. The letter warned that state licenses could be revoked if an operator is offering sports prediction markets, even if they aren’t available in Arizona.
Kalshi announced it will be launching player prop bet markets for the NFL, covering passing, rushing, receiving, combined, defensive, and special teams stats. No CFTC approval is required, allowing the new markets to go live in all 50 states at any time.
Hard Rock Bet has announced a new partnership with Genius Sports, which will help the sportsbook to massively upgrade live betting and streaming options. Genius has a proven track record while working with DraftKings, FanDuel, and bet365.
The AGA has released the results of a study showing that the public overwhelmingly views sports prediction markets as offering sports betting. The results are in part due to Kalshi’s advertising, which claims to offer legal sports betting in all 50 states.
ESPN Bet has filed an application for an online sports betting license in Missouri, putting them on track to launch when the market goes live on December 1. The expansion comes as the battle over the platform’s future rages on.
Kalshi saw over $300 million in sports prediction trades in the first week of the NFL season, thanks in part to its new betting markets. By comparison, sportsbooks saw a drop in app downloads compared to the same week last year.
Caesars and bet365 sportsbook have both announced new surcharges for all wagers accepted in Illinois in response to the state’s controversial per bet tax. Now all ten of the state’s online sportsbooks have enacted changes to combat the new tax.
Fanatics Sportsbook stunned the sports betting industry by receiving over 300% more wagers in New York for August compared to July, topping rival FanDuel. However, the sportsbooks only generated $16 million in gross gaming revenue, which is almost $50 million less than FanDuel.
PrizePicks announced that its DFS platform will only allow for peer-to-peer games going forward. The move is an attempt for the operator to survive crackdowns on the industry by states, including a full ban recently announced in California.
Gambling regulators from Nevada and Ohio have both warned sportsbooks that they could lose their licenses if they decide to offer sports prediction markets. The warnings come just days after FanDuel announced it would be launching a non-sports prediction platform.
Fanatics Sportsbook has announced it has partnered with Boyd Gaming in Missouri, allowing it to apply for one of the market’s sports betting licenses. The deal will also allow the operator to open retail sportsbooks at Boyd’s two Ameristar casinos.
A recent poll revealed that California residents support legalizing sports betting as lawmakers and tribes work to negotiate a regulatory framework. The poll offers hope that the two sides can reach a deal to include sports betting in the November 2026 election.
Wisconsin’s Ho-Chunk Nation has filed a lawsuit against Kalshi, claiming its sports prediction offerings violate tribal and state gambling laws. The tribe also claims the low minimum age requirement for these markets is creating a dangerous problem gambling crisis for young Americans.
FanDuel announced it will begin offering prediction markets for the US economy later this year, but has not confirmed intentions to launch one for sports. The announcement makes it the first sportsbook to enter the new industry, beating top rival DraftKings to market.
Arizona’s Department of Gaming has sent out cease & desist letters to Fliff and Thrillzz social sportsbooks, ordering them to exit the market immediately. The regulator is threatening to bring felony charges against both industry-leading operators.
Kalshi has announced it will be offering spread, total, and pro bet markets through the Robinhood platform. All three markets will be live before the NFL and NCAA football seasons begin, despite mounting legal pressures on the industry.
ESPN Bet has announced a new $1 minimum bet requirement for all wagers placed in Illinois to help offset the revenue lost from recent tax hikes. They join BetMGM, Hard Rock Bet, and BetRivers, who have also raised their minimums this summer.
Circa Sports scored a massive victory today when the Missouri Gaming Commission awarded it with one of the state’s two untethered sports betting licenses. This allows the operator to launch in the state on December 1 without needing to establish an in-state partner.
Sportsbooks have been pushing for Illinois to confirm how it will tax new customer surcharges added by FanDuel, DraftKings, and Fanatics over the summer. While operators insist the fees should not be subject to state taxes, reports suggest the state may disagree.
The Ohio Casino Control Commission has confirmed it is planning to create a rule that would place a ban on micro-betting. The news comes just days after Governor Mike DeWine requested the regulator crack down on prop betting in the state.
A Maryland court has rejected Kalshi’s motion for an injunction, which would allow it to operate as its lawsuit against a state regulator plays out. This represents the first major legal setback for the operator, who won cases in New Jersey and Nevada.
BetRivers Sportsbooks has announced it will be increasing its minimum bet requirement in Illinois to $1 in response to the state’s new per-bet tax. The Illinois-based operator is the sixth sportsbook to take action in response to the controversial tax change.
The House Study Committee on Gaming in the State of Georgia held its first meeting to explore the impacts of legalizing sports betting on Monday. The committee is required to submit its recommendations by December 1 for a House review.
The White House has requested that a Senate committee delay a vote on its CFTC nominee as concerns over his ties to Kalshi continue to grow. While President Trump still publicly supports the nomination, they have not confirmed how they will proceed.
The MLB has placed Cleveland Guardians closer Emmanuel Clase on paid leave amid an investigation into unusual betting patterns involving some of his stats. It is the second gambling investigation into a Guardians pitcher this month.
The New Jersey Assembly is considering a bill that would place a ban on micro-betting on sports, which allows bettors to wager on small moments of a game. The bill is meant to slow down the betting process and reduce problem gambling.
A group of California tribes has filed a lawsuit against Kalshi and Robinhood, alleging that their sports prediction markets violate state and federal gambling laws. The tribes are requesting the court block them from operating in California.
The Senate Agriculture Committee confirmed it will convene before its August recess to vote on CFTC chair nominee Brian Quintez. The vote on the nomination was set for earlier this week, but had to be postponed due to the absence of one member.
California Attorney General Rob Bonta told local media that he plans to force out daily fantasy sports operators. The announcement comes two weeks after he released an opinion on the industry’s legality, finding it violates state gambling laws.
