Attorney General James Uthmeier wants to “disincentivize people” to gamble on unregulated channels. Representatives Dana Trabulsy and Berny Jacques have filed measures in the House to support Uthmeier’s request. TALLAHASSEE, Fla. – Attorney General James Uthmeier has made it very clear that going after “unlawful … Read more
Coinbase sued Michigan regulators to prevent state gambling laws from applying to prediction markets it claims fall under federal jurisdiction. Michigan officials warned operators that offering sports event contracts would threaten their licenses, but DraftKings and FanDuel launched anyway. The dispute will likely reach the … Read more
The NFL urged Congress to address prediction markets operating in all 50 states without the regulatory oversight that governs legal sports betting. League officials warned that prediction markets could handle significantly larger wagering amounts than traditional sportsbooks while lacking proper integrity protections. The NFL called … Read more
A Massachusetts judge is deciding whether to block Kalshi from letting people bet on sports games, questioning if Wall Street financial rules really should apply to predicting who wins a sports game. Kalshi claims it runs a federally regulated trading platform, but the state argues … Read more
Polymarket is letting U.S. users back in after a four-year ban, starting with sports betting and planning to expand into other markets soon. Fanatics launched its prediction market app in 24 states this week, including California and Texas where traditional sportsbooks are still unregulated. Both … Read more
U.S. District Judge Andrew P. Gordon ordered Crypto.com to halt its sports event contracts in Nevada. Gordon ruled the contracts are governed by state gambling laws, not federal commodities regulations. The case underscores ongoing legal battles over how prediction markets should be regulated. LAS VEGAS … Read more
DraftKings’ Railbird acquisition raises license concerns in Ohio and Michigan where regulators warn against prediction market participation. Multiple state gaming commissions have threatened that offering sports event contracts could jeopardize existing sportsbook licenses. DraftKings may limit sports predictions to non-betting states like California and Texas … Read more
CME Group plans to launch a prediction market platform offering contracts on economic indicators and potentially sports events by the end of 2025. FanDuel is partnering with CME but has yet to confirm involvement in sports event contracts amid regulatory concerns from states with legal … Read more
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
Donald Trump Jr. weighed in on the sports betting debate this weekend, backing calls for Alabama and Georgia to legalize sports betting. ATLANTA – Two of the states without sports betting, Alabama and Georgia, are holdouts in the Southeastern Conference (SEC) region. “Crazy. Totally agree … Read more
PrizePicks will offer a new way to bet after receiving federal approval to enter prediction markets. ATLANTA – The daily fantasy sports operator PrizePicks was approved Monday as a futures commission merchant (FCM) by the Commodity Futures Trading Commission. In plain terms, that status allows … Read more
Underdog Sports struck a deal with Crypto.com’s derivatives affiliate to launch sports prediction markets on its platform. BROOKLYN – A partnership announced Tuesday makes sports event contracts from Crypto.com | Derivatives North America (CDNA) available inside the Underdog app. For Underdog, a company best known … Read more