WASHINGTON – Wednesday’s U.S. Senate subcommittee hearing titled “No Sure Bets: Protecting Sports Integrity in America” was a lopsided battle between those speaking against and in favor of prediction markets. Those wanting more regulation for prediction markets included witnesses like American Gaming Association (AGA) President … Read more
MINNEAPOLIS – Minnesota Governor Tim Walz signed SF 4760 into law on Monday, which would ban prediction markets from offering specific event contracts on sports and other markets in the state. Now, the CFTC has responded with a lawsuit in an attempt to block the … Read more
BIRMINGHAM, Ala. – Two senators are pushing for a ban on digital sports betting advertisements that target children. The Gaming Advertisement to Minors Enforcement (GAME) Act would ban these ads from appearing on social media platforms like TikTok and Instagram. It’s no secret that teenagers … Read more
WASHINGTON – On the morning of May 14, 2018, the Supreme Court of the United States handed down Murphy v. NCAA and ended Nevada’s 26-year monopoly on legal sports betting. Eight years later, questions surrounding who would profit and under what rules have been answered… … Read more
OKLAHOMA CITY – Oklahoma Governor Kevin Stitt vetoed a bill to ban sweepstakes casinos in the state after it unanimously passed through the Senate and by a majority in the House. Sweepstakes casinos offer dual-currency options, meaning players can use forms of currency with no … Read more
HARRISBURG, Penn. – Another state has joined in the fight to regulate prediction markets, as Pennsylvania lawmakers aim to pass new legislation taking aim at the controversial platforms. House Bill 2497 is a proposed act to amend Title 4 of the Pennsylvania Consolidated Statutes. It … Read more
MADISON, Wisc. – The U.S. District Court for the Western District of Wisconsin made a ruling on Monday, stating that the Ho-Chunk Nation can sue Kalshi for violating its Tribal-State compact. The key piece of this ruling is that the court classified Kalshi’s sports based … Read more
Editor’s Note on May 13: The Minnesota House and Senate approved a bill that would ban a specific list of prediction market event contracts in the state. The bill, SF 4760, was amended to include language from John Marty’s SF 4511 bill banning event contracts … Read more
DENVER – There’s been an update to the sports betting market in Colorado with a new bill passing through the House that would impact the industry overall. The new legal sports betting bill wouldn’t take away sports betting in Colorado, but it would implement restrictions … Read more
HARTFORD, Conn. – An amendment to a cheating statute from 1998 is likely to be signed into law to expand from casino games to sports betting. It was originally written for cheating on casino games and lottery drawings, but lawmakers have pushed for an amendment … Read more
TRENTON, N.J. – New Jersey wants to profit off of sports bettors and consumers when they host eight FIFA World Cup games this summer. Representative Michael Venezia’s Assembly Bill 4838 would temporarily increase the state’s 19.79% legal sports betting tax rate by 10% for the … Read more
NEW YORK – Kalshi claims to not be a sportsbook and doesn’t offer “betting”, instead offering contracts. However, when it’s time to compare their profitability to other financial exchanges, they measure up against legal sports betting sites and stock day trading based on bogus data … Read more