Senators Were Fired Up About Prediction Markets In Wednesday's Hearing
The Senate Commerce Subcommittee held a hearing titled “No Sure Bets: Protecting Sports Integrity in America,” which quickly turned into a bipartisan debate over prediction markets. Senators from both parties warned that platforms like Polymarket and Kalshi are offering sports event contracts that function as unregulated sports bets. Lawmakers highlighted gaps in CFTC oversight, potential threats to state and tribal gambling revenues, and the targeting of young users through social‑media influencers. Several bills, including the Bets Off Act, were cited as possible legislative fixes.
Michigan, Pennsylvania Take Different Paths To Profitable April For Sports Betting
April’s sports‑betting data show divergent trends in two of the nation’s largest markets. Pennsylvania’s total handle dropped 10% to $641.6 million, yet revenue surged 25% to $77.2 million, yielding a 12% hold and $21.2 million in taxes. Michigan, by contrast, posted a 10%...
The Early Line: Senate Subcommittee To Hold Hearing On Sports Betting Integrity
The Senate Commerce Subcommittee on Consumer Protection, Technology, and Data Privacy will hold a hearing on May 20, 2026 to examine the integrity of the rapidly expanding U.S. sports‑betting market, now valued at roughly $165 billion across 39 states and the...
The Handle: March Meh-Ness For Ohio Sports Betting, Too
Ohio’s sports‑betting handle slipped 2.6% in March, falling to $960.4 million, while revenue jumped 32% to $87.9 million. The market’s hold stayed at 9.2%, generating $17.6 million in state taxes. Lottery‑run UBetOhio kiosks were excluded, representing only a fraction of total activity. The...
The Handle: A Post-Super Bowl Hangover For Massachusetts Sports Betting In March
Massachusetts' March sports betting handle fell 10% to $701.4 million, aligning with peer states after the Super Bowl. Despite the dip, revenue rose 24% to $67.2 million, pushing the hold to 9.6% and generating $13.1 million in tax receipts. The decline reflects a...
The Handle: Wolverines' NCAA Tournament Run Fuels Mega March For Michigan Sports Betting
Michigan’s regulated sports betting market posted a $50.8 million revenue haul in April 2026, a 52% jump from the prior month. The total handle reached $494 million, up 1.4%, while the hold stayed at 10.3%. Taxes generated $3.04 million for the state, marking...
The Handle: New Jersey Sports Betting Continues Cooldown As Spring Sets In
New Jersey’s March sports‑betting handle slipped 8.6% to $1.012 billion, marking the fourth straight month of volume decline. Despite the pullback, revenue rose 23% to $87.6 million, pushing the hold ratio to 8.66%. State taxes collected $18.1 million, underscoring the market’s fiscal importance....
The Handle: Maryland Sports Betting Stands Strong Against March Headwinds
Maryland’s sports‑betting market posted a $604.7 million handle in March, a 2.8% increase from the prior month, while revenue jumped 31% to $62.7 million. The state’s hold rate sat at 10.4%, generating roughly $8.8 million in tax receipts. These figures contrast with a...
MLB Signs Exclusive Deal With Polymarket, And A 'Memo Of Understanding' With CFTC
Major League Baseball has inked a multi‑year exclusive partnership with prediction‑market platform Polymarket, granting the latter sole rights to use MLB branding in its markets. Reported deal values range from $150 million to $300 million over three years. Simultaneously, the Commodity Futures...