Kalshi set a new single-day trading record with over $275 million in activity. DraftKings and Flutter Entertainment lost nearly $7 billion in combined market capitalization. Capitol Hill lawmakers are questioning the Commodity Futures Trading Commission’s (CFTC) oversight of prediction market sports contracts. NEW YORK – … Read more
Illinois, Michigan, and Maine are all on pace to record milestones for the amount of sports betting tax revenue they’ve collected based on August reports. While Illinois will join the billion-dollar club with New York, Michigan will have brought in $100 million and Maine will … Read more
Nevada sportsbooks have approached a betting handle of $50 billion since 2018. Other sports betting milestones include New Hampshire closing in on $4 billion since their launch. As Connecticut nears $7 billion placed in sports bets, West Virginia has seen almost $25 billion. LAS VEGAS … Read more
Sports bettors could owe taxes on their winnings without any loss deductions under the proposal from Advancing American Freedom. INDIANAPOLIS – Former Vice President Mike Pence’s think tank, Advancing American Freedom (AAF), is urging Congress to eliminate tax deductions for gambling losses entirely. This move … Read more
Nevada sportsbooks generated $21.9 million in baseball betting revenue in June, a 103.1% increase from the $10.8 million reported in June 2024. Baseball betting drove $55.5 million in Q2 revenue, up 72% year-over-year and surpassing all other sports in Nevada for the second straight month. … Read more
Sports betting has been legal in New York for six years and is the largest markets in the United States. Since legalizing sports betting, New York sportsbooks have generated more than $6 billion in revenue and $3 billion in taxes. ALBANY, N.Y. – New York … Read more
New Jersey sportsbooks have kept more than $5 billion all-time from bettors – the second state (New York) to cross that threshold. TRENTON, N.J. – The all-time sports betting revenue total in New Jersey grew past $5 billion per the latest financial report, on the … Read more
In July 2025, Washington DC hit an all-time handle of $1,546,702,720, increasing 71% year-over-year from July 2024. New sportsbooks in the Capital City will help the handle and future revenue grow. WASHINGTON — Washington DC achieved a historic milestone, surpassing $1.5 billion in the amount … Read more
May data for Illinois sports betting marks an 11th consecutive billion-dollar month and reflects a 24.9% YoY increase from May 2024. The milestone comes just as new per-bet taxes take effect and changes are expected to reshape the market. CHICAGO — Illinois joined the elite … Read more
Fewer than 0.6% of U.S. sports bettors report gambling income to the IRS, and over 90% lose money annually. The proposed tax change targets high-stakes professionals, not casual fans betting $20 on the Cowboys. WASHINGTON – Everyone’s panicking over the Senate’s version of the One … Read more
Wyoming lawmakers are drafting a bill to double the state’s online sports betting tax rate from 10% to 20%, aiming to boost revenue and bring the state in line with national norms. Despite generating over $645 million in wagers and $66 million in operator revenue … Read more
Oregon sportsbooks have accepted more than $3.01 billion in bets since launching in 2019. Monthly handle hit a record $90.2 million in December 2024, driven by NFL wagering. Since switching to DraftKings, Oregon’s sports betting revenue has surged nearly 50%. SALEM, Ore. – Oregon sportsbooks … Read more