CFTC Inaction Keeps Prediction Markets Legal—Future Risk
Robinhood's lawyers argued today that the CFTC can take action against prediction markets, and because it hasn't, means they are legal. The problem, again, is that if (and, realistically, when) the CFTC has a less favorable makeup, they could simply end prediction markets.
Trump‑appointed Judges Show Skepticism at Prediction Market Hearing
All three judges in today's prediction market hearing are Trump appointees. All have seemed heavily skeptical of the PMs' legal arguments today.
Judges Question Kalshi's Roulette Betting; CFTC Likely Blocks It
Federal judges push Kalshi lawyers on what would stop them from offering event contracts on the outcome of a roulette wheel; Kalshi says the CFTC likely wouldn't allow it, without giving an explanation why
Judge Questions Financial Impact of Yankees‑Red Sox Game
"Would the Yankees beating the Red Sox have a potential financial consequence?" asks a judge in today's Kalshi hearing; Kalshi lawyers argue that the outcome of every game impacts team valuations, and that Kalshi users are hedging sports-related outcome financial...
CFTC Shift Could Undermine Prediction Markets' Legal Standing
Much of the prediction markets' legal case is based on the idea they have authority, in part, because of the CFTC. The problem with any reliance on the CFTC is that in the next two to three years, the makeup...
Judge Rejects Crypto.com Claim, Boosts Nevada Regulators
Good news so far for Nevada regulators: early in today's Prediction Market hearing, federal Judge Ryan Nelson has aggressively pushed back against Crypto dot com's legal claims that sports event contracts are not sports bets
Sportsbook Odds and Prediction Markets Look Identical
The most convincing argument in a human, "I-know-it-when-I-see-it" sense would be to put the side-by-side screenshots of a major online sportsbook and a prediction market sports event contract. With the US betting odds display, a "reasonable" person can't tell the...
CFTC Hearing Flags Partisan Future for Prediction Markets
Congressional hearings are to score political points, not make meaningful progress. That said, today's CFTC hearing has reaffirmed that prediction markets are a partisan issue; If/when Democrats take Congress/White House, PMs' regulatory environment will be far less favorable
CFTC Chair Remains Vague on Rejected Prediction
During a Congressional hearing today, CFTC Chair Michael Selig does not specify if the organization has rejected any prediction market event contracts proposed by operators
DraftKings to Debut iCasino, Sportsbook in Alberta July 13
As expected, DraftKings plans to launch it's iCasino and sportsbook in Alberta July 13, the company announced today
Tennessee House Poised to Approve Sweeping Casino Ban
The Tennessee House is scheduled to vote on a sweeps casino ban bill Thursday; if passed, bill would still need to pass full Senate, but has so far received negligible opposition
DC to Hear Uncapped iCasino Bill, One of Few States
DC lawmakers will discuss an iCasino legalization bill, which would allow an uncapped number of operators, during a hearing on May 4; the District is one of the few US jurisdictions still considering iGaming legalization this year
Only a Fraction of 73M Eligible Men Bet Regularly
1) With few exceptions, people 18-20 can't have sportsbook accounts with the brands mentioned 2) There are roughly 73m US men age 18-49, yet only about 10m monthly active legal sportsbook users. While half this demo may have signed up, a...
Major Sportsbooks Back Minnesota Betting Bill, Unlike Wisconsin
FanDuel, DraftKings, BetMGM, Fanatics and bet365 reaffirm support for Minnesota online sports betting bill during informational session in a legislative committee today; Wisconsin recently passed a mobile sports betting that was not supported by the major books
Minnesota Faces 3,800 Illegal Gambling Sites, Officials Warn
There are roughly 3,800 illegal gambling websites available to Minnesota residents, state Department of Public Safety officials estimated in a legislative hearing today
Minnesota Lawmakers Discuss Mobile Sports Betting Legalization
Minnesota lawmakers Tuesday will discuss, but not vote, on a mobile sports betting legalization bill; though no action will be taken today, a conversation in committee is a positive sign in what has been a long (long) journey to bringing...
BetMGM CEO Backs Kentucky’s 21+ Betting Age
FWIW, BetMGM CEO Adam Greenblatt supports Kentucky raising its minimum sports betting age to 21
Virginia Poised for 2027 iGaming Despite Legislative Deadlock
BetMGM CEO Adam Greenblatt noted Virginia as a leading iGaming legalization candidate in 2027; both the state House and Senate passed iGaming bill this year, but the full legislature did not agree to differences between the two versions
BetMGM Lowers FY2026 Outlook, Targets Lower EBITDA Range
BetMGM revises FY 2026 guidance down, per Q1 release: "We continue to expect FY 2026 Adjusted EBITDA between $300-$350 million, albeit towards lower end of the range, while Net Revenue now expected to be between $2.9-$3.1 billion"
BetMGM Q1 Revenue Rises 6% with Strong iGaming Growth
BetMGM Q1 notable figures: - Net Revenue of $696 million, +6% YoY - iGaming Net Revenue +9% YoY - Online Sports Net Revenue +4% YoY - Adjusted EBITDA of $25 million, +11% YoY
States Target Sweeps, Sportsbooks, and Prediction Markets
There are 3 major categories of gaming bills still being discussed in statehouses this legislative season (a non-exhaustive list): - Sweeps bans: MD, MN, OK, TN - Sportsbook restrictions: CO, CT, MA (plus long-shot bills in NJ, NY, OH) - Prediction Market bans:...
Vermont Lawmakers to Debate Prediction Market Ban
Vermont lawmakers Tuesday are scheduled to discuss a bill to prohibit prediction markets in the state; Vermont is one of a half-dozen states with active prediction market ban bills still under consideration this year
Illinois Bill Bans Casino Credit‑card Cash Advances, Gains Bipartisan Support
An Illinois bill that would prohibit ATMs located within state casinos from offering cash advances on credit cards and bans customers from using credit cards to participate in a gambling game is now up to 18 bipartisan co-sponsors; the bill...
Minnesota Prediction Market Ban Advances, Faces Legal Hurdles
A Minnesota prediction market ban bill continues forward in the state Senate after a Rules Committee vote; the bill's sponsor acknowledged during Friday's hearing the bill likely faces legal challenges if passed
Minnesota Senate Pushes Online Sweeps Ban to Finance Committee
Minnesota Senate lawmakers advance an online sweeps ban bill out of committee for the second time in as many days; bill now goes to the powerful Finance Commitee, where from there it could be sent to the full Senate floor
Nebraska Betting Initiative Pays $6.50 Per Signature Pair
The Nebraska online sports betting ballot measure campaign is hiring signature collectors; collectors earn $6.50 for each pair of verified signatures required to get the measure on the ballot.
Wisconsin Gets Mobile Sportsbooks, Major Brands Still Missing
Wisconsin sports bettors The good news: You'll soon have legal statewide mobile sportsbooks, probably by year's end The bad news: It may be years (if ever) until you see most major national sportsbook brands
Gov Says Sports Betting Bill Opens Tribal Collaboration
Wisconsin Gov on signing sports betting bill into law: "This legislation is the beginning of a conversation, not the end of one. The real work begins today. Each of the 11 Tribes must now work diligently-and together-to shape the future of...
Minnesota Moves Toward Online Sweepstakes Casino Ban
A Minnesota legislative committee advanced an online sweepstakes casino ban bill today without opposition; Minnesota could join Maine, Indiana and several other states looking to pass similar bans this year
BetMGM Leads Earnings Season Amid Slowing Handle, Rising Margins
BetMGM will help kick off the latest gaming industry corporate earnings season April 14; among the stories to watch will be potential handle slowdown hitting much of the rest of the industry as sportsbooks' profit margins increase and prediction markets...
Wisconsin Tribes Push Gov. Evers to Sign Mobile Betting Bill
Wisconsin mobile betting bill update: All of the state's gaming tribes today issued a letter asking Gov. Tony Evers to sign a bill that would allow them to offer mobile sports betting in the state; Evers has reportedly sought unanimous...
Ohio Mobile Betting Ban Unlikely to Pass, Says Analyst
Do I think the Ohio mobile betting ban bill will pass? No. None of the 31 states with legal digital books have seriously considered it. But a press conference announcing this bill means at least some elected officials believe the...
Iowa Proposal Could Double Gambling Revenue with Prediction Market Tax
An Iowa bill under consideration in the House Ways & Means committee could tax 20% of the total value of all prediction market event contract trades, generating more than $130 million in annual revenue by 2032, per financial analysis released...
Maine Bans Credit Cards for Online Betting, Following Industry Trend
Maine last week became the latest state to pass a law banning credit cards to fund online sportsbook accounts. Many of the nation's leading sportsbooks no longer accept credit cards in any state.
Vegas Strip Rolls Out Summer All‑Inclusive Deals for Budget Travelers
Las Vegas Strip Casinos offering summer all-inclusive packages: - Excalibur - Luxor - Harrah's - Flamingo - The LINQ Move by MGM and Caesars comes as the Strip's two largest operators look to bolster appeal to more budget-conscious customers