All news

Recent news

FanDuel and DraftKings Break From AGA Over Prediction Markets
November 26th, 20255 mins

FanDuel and DraftKings Break From AGA Over Prediction Markets

FanDuel and DraftKings Exit the AGAUS sports betting giants FanDuel and DraftKings have announced their exits from the American Gaming Association after disagreements over the future of prediction markets. Both companies confirmed the move in separate statements, calling it a necessary step as their business strategies evolve.The operators said the AGA’s current direction no longer aligns with their plans, particularly regarding the association’s stance on prediction platforms. The AGA acknowledged the withdrawals and extended its well-wishes.The split is notable because it involves the two largest sportsbook operators in the country and the primary trade group representing the regulated gaming industry.Prediction Markets vs. AGA: The Strategic ClashFanDuel and DraftKings say prediction markets are now a central part of their long-term strategies, and that shift is the primary driver of their break from the AGA. FanDuel plans to launch FanDuel Predicts in partnership with CME Group and intends to offer event-based contracts in states that do not permit online sports betting.Meanwhile, after reporting 4% revenue growth in the third quarter, DraftKings acquired Railbird, a federally regulated exchange licensed to offer event contracts. The purchase is part of its effort to reach more customers. DraftKings also hired former Bet365 CEO Christian Bogstrand to lead the expansion.Both companies argue that prediction markets align with growing consumer interest and reflect the future of online wagering. They say that direction no longer matches the AGA’s policy position, leading to their departure.The AGA is preparing a resolution that would bar any operator offering prediction-market products from joining the group. It says these platforms can resemble unapproved sports betting sites because they may bypass rules and oversight typically used to regulate gambling.The AGA cites concerns, including tax avoidance, weaker consumer protections, and the risk of market manipulation. It argues that prediction markets could undermine state-regulated sports betting and the authority of tribal and commercial operators. In a brief statement, the AGA wished both companies well while reaffirming its commitment to legal and regulated gaming.Market and Lobbying Fallout From AGA DepartureCurrently, platforms such as Kalshi and Polymarket lead the prediction-market space. However, the entry of FanDuel and DraftKings is expected to shift momentum. As established sports betting operators, both companies appear positioned to shape the sector rather than wait for slow regulatory progress.Their departure from the AGA also weakens the association’s influence in policy discussions and redirects attention toward emerging digital platforms. The development mirrors the early disruption created by daily fantasy sports and shows how competition can spur change before regulations catch up.Leaving the AGA also means FanDuel and DraftKings lose the group’s collective lobbying strength and committee participation. They no longer have a voice in shaping responsible gaming standards, policy positions, and coordinated regulatory messaging. The exit reduces their influence with state and federal regulators and increases exposure to potential investigations or enforcement actions. Traditional casino operators that remain wary of prediction markets may also distance themselves from the companies.Prediction Markets Face Regulatory ScrutinyPrediction markets sit at the intersection of gaming rules and financial regulation, creating new challenges for consumers and regulators. Some products function more like financial contracts than traditional wagers, which can leave bettors with fewer protections than they receive in a state-licensed sportsbook.Regulators in states such as Nevada have warned that sports event contracts may still violate state law, even if they fall under federal oversight. Because regulations are unsettled, services can change abruptly, and platforms may offer products with higher risk levels. Both state and federal regulators are now paying closer attention.In New York, legislators have introduced the ORACLE Act (Assembly Bill 9251), which would restrict or ban most event-based prediction markets, including those tied to athletic events. The proposed law aims to impose consumer-protection rules and penalties for noncompliance, highlighting the regulatory pressures operators face as they expand into this emerging market.Future of Sports Betting as Prediction Markets Take Center StageFanDuel and DraftKings will continue to have a platform through the Sports Betting Alliance, which has recently lobbied on behalf of major operators. The industry expects heightened debate as prediction markets grow.Regulators may review and update rules as prediction markets increasingly resemble financial trading rather than traditional betting. The split could accelerate broader policy discussions over online wagering.

Illinois Gaming Board Sends Cease-and-Desist Notices to Bovada, PrizePicks
November 26th, 20254 mins

Illinois Gaming Board Sends Cease-and-Desist Notices to Bovada, PrizePicks

Illinois Targets Unlicensed Sports Wagering SitesJust days before one of the largest sports betting events in the country, Illinois Attorney General Kwame Raoul urged state residents to take caution when betting on the Super Bowl and announced two cease-and-desist notices to “alleged unlicensed sports wagering sites Bovada.com and PrizePicks.”The Illinois Gaming Board issued the cease-and-desist notices to Bovada, an offshore gaming company based out of Curaçao, and PrizePicks, a daily fantasy sports operator based out of Atlanta, Georgia.A PrizePicks spokesperson told Sports Betting Dime that the company is working closely with the Illinois Gaming Board to rectify the situation.PrizePicks Switching Gears in IllinoisIllinois operates as a gray state for daily fantasy sports operators, with the form of gaming being neither legal or illegal in the state.PrizePicks offered both its peer-to-peer and individuals against the house DFS games in Illinois. However, a PrizePicks spokesperson tonight told Sports Betting Dime that the company would only be offering its peer-to-peer games moving forward.“We notified the Gaming Board earlier this week that, at their request, we are transitioning to our peer-to-peer offering, Arena, in Illinois. Additionally, we supported the filing of a bill last year that would’ve granted the board the authority to regulate, license, and tax fantasy sports in the state. We are encouraged that legislators are considering a bill this session to clarify fantasy sports law and implement the taxes and regulations we’ve long advocated for, ensuring a fair and transparent framework for all operators,” the spokesperson said.A number of states have taken umbrage with DFS games that pit individuals against the house. DFS operators such as PrizePicks and Underdog Fantasy have phased out these games in several states in favor of peer-to-peer options.An Illinois legislator has recently proposed a new bill to establish the Fantasy Sports Consumer Protection Act to regulate the DFS industry in Illinois. It’s one of multiple bills surrounding online betting in the state, as a pair of Illinois online casino bills are moving forward.Sen. Lakeisha Collins (D-5) introduced SB 1224, the Fantasy Sports Consumer Protection Act, to establish DFS license fees and tax rates in Illinois.The bill has been referred to the assignments committee.Bovada Facing Another Cease-and-DesistThe Illinois Gaming Board also sent a cease-and-desist notice to Bovada and its parent company Harp Media B.V., which operates out of Curaçao.It’s the second cease-and-desist notice sent to the company this week, as the Florida Gaming Control Commission issued one to the operator as well.Raoul warned Illinois residents to only use licensed Illinois sports betting operators to place wagers on the upcoming Super Bowl.“If you decide to bet on the Super Bowl or any other sporting event, take the time to determine that you are placing your bet with an entity that is licensed by the Illinois Gaming Board and operating legally in the state,” Raoul said. “Using an unlicensed betting service puts your personal information and your money at risk. Even if a sports betting website or app is licensed, it’s also important to read the details of any promotional offers to make sure there are no hidden costs or obligations.”Bovada has pulled out of 17 states, plus Washington, D.C., at the request of gambling regulators. It recently restricted access in New Hampshire after receiving a cease-and-desist from the New Hampshire Lottery Commission.Restricted U.S. Markets for BovadaThe restricted U.S. markets are as follows:ArizonaColoradoConnecticutDelawareKansasLouisianaMarylandMassachusettsMichiganNevadaNew HampshireNew JerseyNew YorkOhioPennsylvaniaTennesseeWashington, D.C.West Virginia

ESPN Bet Is Almost Gone, But Penn Is Making Sports Betting Strides
November 26th, 20254 mins

ESPN Bet Is Almost Gone, But Penn Is Making Sports Betting Strides

ESPN Bet Wind-Down and Penn’s OSB ProgressThe once ballyhooed version of the ESPN Bet mobile sports wagering application operated by Penn Entertainment (NASDAQ: PENN) will cease existing on Dec. 1, but signs are emerging the gaming company is making progress in the online sports betting (OSB) space.An image for Penn Entertainment. A research firm says the company is making sports betting progress. (Image: Penn Entertainment)In a new report, Eilers & Krejcik Gaming (EKG) notes that key performance indicators (KPIs) for the recently commenced NBA season show ESPN Bet’s uptime increased 3.1%, adding the app leveraged improved internal pricing models to boost pricing independence. That’s relevant because Penn’s technology supports the app and that tech stack will carry over to theScore-focused offering, which is replacing ESPN Bet in the gaming company’s OSB stable.Penn has been building out its data science team for several years now; while there may be some teething issues as kinks are worked out, long-term the switch should give Penn better economics and tighter control over the live product,” observes EKG.While ESPN Bet branding will remain alive, and that the mobile application will be powered by DraftKings odds.Penn Could Find Some Sports Betting SuccessWhile Penn’s sports betting gaffes are well-documented, it appears to be righting that ship and it’s not walking away from the ESPN relationship emptied-handed.“theScore has approximately 4 million monthly active users across North America, and PENN will retain a database of 2.9 million digital users acquired during the ESPN relationship (including 300,000 acquired this football season,” according to Truist Securities analyst Barry Jonas. “Further, PENN noted its iCasino business achieved its highest quarterly gaming revenue to date in Q3, driven by record cross-sell from online sports betting and growth from standalone apps.”Those “parting gifts” and the progress cited by EKG are vital because Penn is shifting directions in the OSB space. That form of wagering will no long be a point of emphasis, but it will be used as a customer acquisition tool for the operator’s on-the-rise iGaming platform. EKG sees benefit in Penn no longer writing OSB checks the company can’t cash.“Crucially, expectations and timelines have been reset: no more promises of 20% market share in five years,” says the research firm. “We believe Penn can deliver a solid sportsbook product that plays a sensible role within a profitable Interactive business.”Penn Tech Progress Is MeaningfulAt a time when technology is an increasingly prominent part of OSB operators’ success, Penn’s strides on that front should not be diminished and that progress could pay dividends when theScore Bet app rolls out in earnest.“Despite the failure of ESPN Bet, there are positives for the new direction. Alongside the live betting performance, we’ve seen genuine strides on OSB product over the last two years,” concludes EKG.

New AGA Analysis: Illegal Gaming Still Nearly a Third of U.S. Market
November 26th, 20254 mins

New AGA Analysis: Illegal Gaming Still Nearly a Third of U.S. Market

Press Release OverviewPress ReleaseNew AGA Analysis Reveals Illegal Gaming Remains Nearly a Third of the U.S. MarketIllegal Operators Cost States $15B In Lost Tax RevenueAugust 13, 2025Key Findings from the AGA AnalysisWASHINGTON, D.C. – A new analysis from the American Gaming Association (AGA) finds that Americans wager a total $673.6 billion annually with illegal and unregulated gambling operators, diverting activity away from licensed operators and denying communities critical resources that fund infrastructure, education, and public safety.Driven by a sharp rise in illegal iGaming, expanding use of unregulated skill machines, and persistent illegal sports betting, the illegal market has grown 22% since AGA’s last report in 2022. Growth in the legal market in recent years has kept the illegal market’s share of total U.S. gaming revenue largely steady – with illegal operators capturing smaller shares of sports betting and iGaming revenue – but illegal operators still account for nearly one-third (31.9%) of the total U.S. gaming market.The illegal and unregulated gambling market generated an estimated $53.9 billion in annual revenue for offshore betting rings and unregulated machine operators, robbing state governments of $15.3 billion in taxes each year.Impact on Consumers and Legal Market“Illegal gambling operators are thriving at the expense of American consumers, siphoning billions in tax revenue from state governments, and undercutting the efforts of the legal market,” said AGA President and CEO Bill Miller. “It’s time for a national crackdown on the pervasive illegal market that is draining state coffers and putting people at risk.”Unregulated “Skill” Machines FindingsUnregulated machines remain one of the fastest-growing threats to legal gaming, with more than 625,000 machines now operating across bars, restaurants, and convenience stores, a 7.7% increase since 2022. These machines generated $30.3 billion in revenue and cost states $9.5 billion in lost tax revenue. With no regulatory oversight, these machines pose serious risks to consumers and communities alike.iGaming FindingsIllegal online slots and table games reached $18.6 billion in revenue—up nearly 38% since 2022. Most concerning, the share of iGamers who play only on legal sites fell from 52% in 2022 to just 24% today, while the share using both legal and illegal sites soared to 49%, nearly tripling in just three years. Despite this growth, illegal operators hold a smaller share of the total U.S. iGaming market than they did three years ago.Sports Betting FindingsAmericans wagered an estimated $84 billion with illegal bookies and offshore sportsbooks in the past year, generating $5 billion in revenue and causing $1 billion in tax losses. Compared to 2022, the share of sports bettors exclusively using illegal sites fell by a third and illegal sportsbooks’ share of the total U.S. sports betting market fell from 36 percent to 24 percent. One in ten sports bettors still wager exclusively with illegal sources.Call for Stronger Enforcement“These bad actors operate in the shadows with zero consumer protections, no responsible gaming obligations, and no economic return to the communities they exploit,” added Miller. “Combating them requires not only stronger U.S. enforcement, but also continuing to work closely with our international partners to shut down offshore operators and hold them accountable.”Visit AGA’s State of Play Map for a state-by-state breakdown of legal gaming in the U.S.MethodologyThe study was conducted by The Innovation Group on behalf of the American Gaming Association and is based largely on a survey of 2,454 U.S adults, examining their past-year gambling behaviors with both legal and illegal operators as well as their observations of unregulated gaming machines. It also incorporates publicly available data on the size of the legal U.S. gaming market and certain state gaming machine markets.

TransUnion: Is Recent US Betting Growth Sustainable?
November 26th, 20253 mins

TransUnion: Is Recent US Betting Growth Sustainable?

TransUnion examines younger bettorsBetting among millennials and Gen Z has grown “considerably” over the past year, but economic strains suggest that may be unsustainable, according to a TransUnion report.TransUnion released its US Q3 2025 Gaming Report on Wednesday, highlighting that younger generations are driving overall gambling growth, particularly in sports betting. At the same time, the report raised caution about increased reliance on a demographic more adversely impacted by rising debt and shrinking discretionary income.The report found 42% of millennials said they participated in betting during the second quarter, up from 31% a year ago. That was followed by 34% of Gen Z, compared to 26% in 2024.Gen Z favors sports betting?Millennials betting $50 or more a month showed growth across six different segments tracked in the report, including online and land-based casino, sports wagering and lottery.Notably, those millennials showed 11% growth in both online lottery and land-based sports wagers.Gen Z bettors in the same spending range only grew in online sports betting, which rose 7%, while their largest decline was a 6% drop in land-based casino spending.Online casino growth was 7% for millennials in that $50 a month betting range, while Gen Z was flat.Debts growing for both segmentsBoth Gen Z and millennials are seeing their discretionary incomes shrink as debt levels climb.Since early 2023, millennial monthly debt payments are up 20%, while Gen Z’s are up 27%.TransUnion noted that while rising balances are expected as consumers age into bigger purchases like homes and cars, the recent increases have far outpaced inflation, up 6%, and wage growth, up 8%. This “tightening of household finances” could eventually slow betting activity as younger consumers cut back on discretionary spending, the report warns.Baby boomers hold steady on bettingBaby boomers, the generation beloved by land-based casinos for their slot-playing tendencies, showed zero growth over last year.Out of all baby boomers surveyed, 17% said they gambled in the second quarter, the same as last year.Gen X participation, meanwhile, rose 3 percentage points year-over-year to 28%.

Timeline of Sports Betting Scandals Since the Repeal of PASPA
November 26th, 202519 mins

Timeline of Sports Betting Scandals Since the Repeal of PASPA

Repeal of PASPA and the Rise of Legal Sports BettingOn May 14, 2018, just after 10 a.m. ET, the United States Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992, the federal statute that had restricted legal betting to primarily Nevada for 26 years.It was a landmark decision for two of America's favorite pastimes: sports and gambling.States wasted little time launching -- and taxing -- legal sports betting markets, and professional leagues quickly formed partnerships with the bookmaking companies that would be taking bets on the games. Six years later, 39 states, the District of Columbia and Puerto Rico have legal betting markets, and bettors have already wagered more the $330 billion with the new state-sponsored sportsbooks. But as the betting has increased, so have the controversies that come from gambling.In the past two years, dozens of professional and collegiate athletes and coaches have been suspended or fired for gambling violations, and at least one bettor has pleaded guilty to obstruction charges related to a college baseball betting scandal. In early 2024, a pair of investigations were launched involving suspicious betting on Temple men's basketball and on prop wagers involving Toronto Raptors reserve center Jontay Porter. The NBA banned Porter for life after its investigation revealed he had disclosed confidential information to bettors, limited his participation in at least one game while he was with Raptors and bet on NBA games while playing in the G League.The gaming industry and sports leagues say the legal system is working, with the increased visibility of the betting that is taking place helping spot anomalies. But the incidents -- including players betting on games they're involved with -- persist.Meanwhile, the underground betting market that has existed in the U.S. since sports have existed continues to thrive, with unlicensed bookmakers offering credit and attracting some high-profile clientele who might be hoping for more anonymity. Ippei Mizuhara, former interpreter for Los Angeles Dodgers superstar Shohei Ohtani, was fired in March for using such a bookie. Mizuhara later turned himself in to authorities after prosecutors alleged he stole more than $16 million from Ohtani's account.California and Texas, the two largest states, have yet to legalize sports betting, so the U.S. market has plenty of room for growth, and there is no shortage of betting interest from the public. How big the American betting market gets is anyone's guess. Perhaps the safest bet, though, is that there will be more controversies.2018May 14, 2018: Supreme Court strikes down federal prohibitions on sports gambling.The United States Supreme Court ruled 6-3 to strike down the Professional and Amateur Sports Protections act -- a 1992 law barring state-authorized sports gambling (Nevada had been primarily the only exception). The ruling, which ended a nearly six-year legal battle, opened the door for any state interested in legalizing sports gambling to do so.2019Nov. 29, 2019: NFL suspends Josh Shaw indefinitely.Josh Shaw was the first active player, though on injured reserve, to be suspended for betting on league games. He bet openly at a sportsbook in Las Vegas against his own team at the time, the Arizona Cardinals, as part of a parlay.2020Sept. 8, 2020: University of Colorado signs sponsorship deal with Denver-based PointsBet.The five-year deal between Colorado and PointsBet permitted the sports betting operator to display signs at Colorado's football stadium and basketball arena as well as have ads on other media such as radio broadcasts.2021May 26, 2021: Capital One Arena in Washington becomes the first professional sports arena in the U.S. with a fully operational sportsbook.Monumental Sports, the owner of the Washington Wizards, Washington Mystics and Washington Capitals, agreed to a 10-year lease with William Hill Sportsbook.Oct. 8, 2021: Sporting KC's Felipe Hernandez suspended for betting on MLS games.An independent investigation launched in July 2021 found Hernandez had engaged in "extensive and unlawful sports gambling" while a member of Sporting Kansas City, including gambling on MLS games. Hernandez had informed the team about his gambling on July 5, telling it he was worried about his personal safety because of the debts he had accumulated.2022March 7, 2022: NFL suspends Calvin Ridley for one year.Ridley, an Atlanta Falcons receiver at the time, was suspended for at least the entirety of the 2022 season after the NFL determined he had gambled on games during a five-day stretch in November 2021 while on the non-football injury list. Sources told ESPN's Adam Schefter that the stretch included multilegged parlay bets that included the Falcons to win. He was reinstated in March 2023.Dec. 23, 2022: New York Jets WR coach Miles Austin suspended for one year.Miles Austin, the Jets' wide receiver coach, was suspended for at least one year for violating the NFL's gambling policy. The league had opened an investigation into Austin after finding out he was gambling on sports -- not on NFL games or college football -- which violates the NFL personnel gambling policy.2023Jan. 19, 2023: UFC tightens gambling rules, hires integrity firm amid investigations into suspicious gambling activity before fight.The UFC added stricter language about wagering in its fight code of conduct and hired U.S. Integrity, a sports wagering monitoring firm. The change stemmed from suspicious betting patterns related to a UFC fight between Darrick Minner and Shayilan Nuerdanbieke.March 29, 2023: University of Colorado and PointsBet end partnership three years early.Colorado and SportsBet announced in a joint statement it was "mutually beneficial" to end their partnership after nearly three years. One day prior, the American Gaming Association had released revised guidelines that advised against similar partnerships between sportsbooks and colleges.April 21, 2023: Jameson Williams among five NFL players suspended for gambling.Detroit Lions wide receiver Quintez Cephus, safety C.J. Moore and Washington Commanders defensive end Shaka Toney were indefinitely suspended for betting on NFL games, while Jameson Williams and Stanley Berryhill were suspended for six games for mobile betting that occurred at the Lions' Allen Park facility, though Williams and Berryhill did not bet on NFL games.May 4, 2023: Alabama fires head baseball coach Brad Bohannon after link to suspicious bets.Ohio gambling regulators had initially halted betting on college baseball games involving Alabama after suspicious wagering activity was detected for its game against LSU. Federal prosecutors alleged Bert Neff, an Indiana businessman and youth baseball coach, communicated with Bohannon ahead of an Alabama-LSU baseball game and proceeded to bet against the Crimson Tide. Alabama fired Bohannon six days after the betting had been halted.May 8, 2023: Start of Iowa-Iowa State gambling investigation.The University of Iowa and Iowa State University announce more than three dozen athletes -- spanning baseball, football, men's basketball, men's track and field, and wrestling -- and one full-time Iowa athletic department employee were suspected of violating NCAA rules against gambling on sports.June 29, 2023: NFL suspends four players (three for betting on their own team) for gambling violations.Indianapolis Colts' Isaiah Rodgers Sr. and Rashod Berry and free agent Demetrius Taylor were suspended by the NFL through at least the 2023 season for betting on NFL games in 2022. Rodgers, however, said that the bets he made were for other people, whom he declined to identify.Sept. 29, 2023: Jameson Williams reinstated after NFL tweaks gambling policy.The NFL modified its gambling policies to make it so players who bet on their own teams would be punished more harshly -- a suspension of at least two years -- and players who bet on any NFL games would be punished with a one-year suspension. Players who bet on non-NFL sports while at a team facility or on team-related travel would now receive a two-game suspension for a first violation, six games for a second and at least one year for a third.Oct. 26, 2023: NHL player Shane Pinto suspended 41 games for gambling.It is unclear how Ottawa Senators center Shane Pinto violated the NHL's sports wagering policy, but Pinto did have an online gambling account in the U.S. that was flagged by an NHL integrity protection partner "because of unusual activity," according to the Ottawa Sun.Oct. 27, 2023: Two Korn Ferry Tour golfers suspended for sports betting.Vince India and Jake Staiano, golfers on the PGA Tour's feeder tour, were suspended for three and six months, respectively, for placing bets on PGA Tour competitions. Neither wagered on tournaments in which they played.2024Jan. 25, 2024: Patriots' Kayshon Boutte arrested over illegal betting at LSU.Louisiana State police said the charges against wide receiver Kayshon Boutte include a felony count of computer fraud and a misdemeanor count of gambling prohibited for persons under 21, but that there could be additional charges as the investigation was ongoing. Boutte allegedly used an alias to get around the age requirement for placing sports wagers in Louisiana while he placed bets from April 6, 2022, through May 7, 2023, while he was 20.March 8, 2024: Temple reviews reports of unusual gambling activity.Watchdog company U.S. Integrity flagged at least one Temple men's basketball game for unusual betting activity, prompting Caesars Sportsbook and FanDuel, among other sportsbooks, to halt betting on the game.March 12, 2024: Ex-Jaguars employee Amit Patel given 6 ½ year prison sentence for fraud.Amit Patel pleaded guilty to stealing $22 million from the team. Patel stole the money over the course of 3½ years as he transferred approximately $20 million to FanDuel and $1 million to DraftKings, using the rest of the stolen money on various other expenditures.March 20, 2024: Dodgers fire Shohei Ohtani's interpreter, Ippei Mizuhara, amid allegations of "massive theft" stemming from gambling debts.Ippei Mizuhara was fired after questions started to arise surrounding at least $4.5 million in wire transfers sent from Shohei Ohtani's bank account to a bookmaking operation that is under federal investigation. A spokesman for Ohtani initially told ESPN that Ohtani had transferred the funds to cover Mizuhara's gambling debt.March 25, 2024: NBA eyes Raptors' Jontay Porter for betting issues.Multiple sources told ESPN that Toronto Raptors forward Jontay Porter was being investigated by the NBA for making prop bets from games on Jan. 26 and March 20 involving himself.March 27, 2024: NCAA president calls for ban on college prop bets.NCAA president Charlie Baker calls for ban on college prop bets. Baker said this is to protect "the integrity and competition" of the game as well as stop the harassment of student and professional athletes.April 11, 2024: Federal prosecutors say Mizuhara stole more than $16 million from Ohtani.Federal authorities filed a complaint accusing Mizuhara of bank fraud in relation to allegations he stole money from Ohtani to cover his own gambling debts. The prosecutors said Ohtani is considered a victim in this case.April 17, 2024: NBA bans Jontay Porter for life.The NBA announced its investigation found that "Porter violated league rules by disclosing confidential information to sports bettors, limiting his own participation in one or more games for betting purposes, and betting on NBA games."June 3, 2024: Padres Marcano faces potential lifetime ban.San Diego Padres infielder Tucupita Marcano is facing a potential lifetime ban for betting on baseball. Major League Baseball received information that he wagered on games involving the Pittsburgh Pirates when he was with them last season, sources confirmed to ESPN.June 4, 2024: Marcano gets lifetime ban; four other players suspended for one year.For violating MLB's sports betting rules and policies, the league announced San Diego Padres infielder Tucupita Marcano had been declared permanently ineligible. Additionally, Oakland Athletics pitcher Michael Kelly, Padres minor league pitcher Jay Groome, Philadelphia Phillies minor league infielder José Rodríguez and Arizona Diamondbacks minor league pitcher Andrew Saalfrank were all declared ineligible for one year.June 14, 2024: MLB disciplines an umpire for violating league's gambling rules.Umpire Pat Hoberg has been disciplined for violating the league's gambling rules, though the nature of the discipline is unknown. Hoberg has denied betting on baseball and is appealing the discipline, but he has not umpired a game this season.Aug. 15, 2024: Notre Dame suspends men's swim team at least one year for gambling.An external review found that members of the Fighting Irish men's swim team were in violation of NCAA rules by wagering on the results of their competitions and failed to "treat one another with dignity and respect," which resulted in a suspension of the program for at least one year. According to a source, the athletes established a sportsbook within the confines of the team to place their wagers. However, the source said, they did not bet on competitors or on any other Notre Dame athletic events.2025Jan. 30, 2025: Federal investigators eyeing Terry Rozier's play in 2023 game.Federal prosecutors are investigating unusual betting patterns surrounding the play of former Charlotte Hornets guard Terry Rozier in a game almost two years ago. It's part of the same investigation that led to Porter's lifetime suspension. First reported by the Wall Street Journal, Rozier, who played for the Hornets at that time and now plays for the Miami Heat, has neither been charged with a crime nor has he been accused of wrongdoing. The NBA said it looked into the matter at the time and did not find that any league rules were broken.Feb. 22, 2025: NCAA, Fresno State investigating betting allegations.Fresno State and the NCAA investigated allegations that two men's basketball players participated in daily fantasy contests based on their own performances, according to sources familiar with the matter.On Feb. 22, Fresno State said in a statement that two other players, senior guard Jalen Weaver and sophomore guard Zaon Collins, were "being withheld from competition as the University reviews an eligibility matter."June 29: Sources: Pistons' Malik Beasley subject of federal gambling probe.Federal authorities investigated Detroit Pistons guard Malik Beasley on allegations of gambling related to NBA games and prop bets, sources told ESPN on June 29. The allegations were from the 2023-24 season, when Beasley played for the Milwaukee Bucks. At least one prominent U.S. sportsbook detected unusually heavy betting interest on Beasley's statistics beginning around January 2024, a gambling industry source told ESPN's David Purdum.On Aug. 22, Beasley's attorneys, Steve Haney and Mike Schachter, told ESPN that their client was no longer a target of the federal gambling investigation conducted by the Eastern District of New York. The 28-year-old shooting guard remained a free agent at the beginning of the 2025-26 NBA season.July 3, 2025: Major League Baseball places Guardians pitcher Luis Ortiz on administrative leave over betting inquiry.Luis Ortiz was under investigation by Major League Baseball after a betting-integrity firm flagged a pair of pitches that had received unusual gambling activity. Sources said betting-integrity firm IC360 sent an alert in June to sportsbook operators regarding Ortiz.July 28, 2025: Cleveland Guardians place Emmanuel Clase on leave over betting inquiry.Clase was placed on nondisciplinary paid leave through Aug. 31 as part of Major League Baseball's investigation into sports gambling, the second Guardians pitcher to be caught up in the inquiry. In a statement, the Guardians said "no additional players or club personnel are expected to be impacted" by the investigation.Aug. 31, 2025: Major League Baseball extends Cleveland Guardians' Clase, Ortiz non-disciplinary paid leave.Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz remained on nondisciplinary paid leave "until further notice" while a gambling investigation continued, Major League Baseball announced on Aug. 31.MLB said in a statement that the league and players' association had agreed to extend the leaves of Clase and Ortiz, adding, "We will not comment further until the investigation has been completed."Sept. 10, 2025: NCAA finds three former Fresno State Bulldogs basketball players conspired in gambling scheme.The NCAA ruled that Fresno State forward Mykell Robinson, San Jose State Spartans guard Steven Vasquez and Fresno State guard Jalen Weaver are permanently ineligible due to gambling violations and are no longer enrolled at their schools.Robinson and Vasquez, who were roommates at Fresno State during the 2023-24 season, conspired to wager on Robinson to underperform during a Jan. 7, 2025, game between Fresno State and Colorado State Rams. Three prop bets totaling $2,200 were placed on the under on Robinson's statistics. The bets, which were flagged by a Nevada sportsbook operator, won a net $15,950. One of the bets was placed by Vasquez and a "sportsbook trader," according to the NCAA.The NCAA investigation also discovered that Robinson and Weaver, who were teammates at Fresno State, discussed the betting lines on each other's statistics and placed bets on themselves and each other in select games.Oct. 23, 2025: Terry Rozier, Chauncey Billups arrested in gambling cases.Portland Trail Blazers coach Chauncey Billups and Miami Heat guard Terry Rozier were arrested on Oct. 23 as part of a pair of investigations related to illegal gambling, authorities announced Thursday.Billups and Rozier were among a total of 34 people arrested. The arrests were the result of a yearslong investigation covering 11 states and involving tens of millions of dollars, FBI director Kash Patel said.Rozier, who was arrested the morning of Oct. 23 at a hotel in Orlando, Florida, is accused of participating in an illegal sports betting scheme using private insider NBA information. Billups, who was arrested in Oregon, is charged in a separate indictment alleging a wide-ranging scheme to rig underground poker games that were backed by Mafia families, authorities said.Former Cleveland Cavaliers player and assistant coach Damon Jones was also arrested Thursday. He allegedly provided inside information about NBA games to co-defendants who used it to place sports bets.

1
recommended
offer icon
Free Bets
Bet $5 Get $150 in Bonus Bets If Your Bet Wins!
Fanduel review
gamblespot score
4.3 /5
Must be 21+ and present in an eligible state. T&Cs apply. Gambling problem? Call 1-800 GAMBLER.
DraftKings and NBCUniversal Sign Multi-Year Sports Collaboration
November 26th, 20254 mins

DraftKings and NBCUniversal Sign Multi-Year Sports Collaboration

Deal Overview and ScopeDraftKings and NBCUniversal announce multi-year sports collaborationDraftKings has entered into a multi-year advertising and sponsorship agreement with NBCUniversal, covering an extensive range of sports programming across television, streaming and digital platforms.The deal grants DraftKings exclusive integration opportunities within NBCUniversal’s sports portfolio, including major leagues and global events.Key Points of the AgreementDeal secures exclusive advertising and sponsorship rights across the company's major sports properties.DraftKings will integrate across NBCUniversal’s sports portfolio, including the NFL, NBA, NCAA, PGA TOUR, Ryder Cup, Premier League and more.DraftKings gains exclusivity in categories such as online sports betting, iGaming, daily fantasy sports, online lottery products and horse wagering.Sports Properties and Major EventsAs part of the agreement, DraftKings will be featured across properties such as the NFL, NBA, WNBA, NCAA football and basketball, the PGA TOUR, the Ryder Cup and the Premier League.The partnership also extends to NBCUniversal’s marquee events, including Super Bowl LX, NBA All-Star Weekend and the 2026 FIFA Men’s World Cup on Telemundo.Comments from DraftKingsStephanie Sherman, DraftKings CMO, stated: “We are proud to join forces with NBCUniversal, an iconic name in sports entertainment, in a landmark multi-year agreement that brings together two industry leaders. Our presence throughout NBCUniversal’s sports ecosystem will not only engage fans in powerful new ways but also augment our industry-leading live betting capabilities.“Together, we will deliver a customer experience that moves at the speed of sports, bringing the thrill of NBA and other top action to life while staying true to our shared passion for innovation, excitement and the unforgettable experiences that live sports inspire.”Exclusive Categories and Fan EngagementUnder the terms, DraftKings receives exclusive rights to certain sponsorship categories, including online sports betting, iGaming, daily fantasy sports, online lottery products and horse wagering. The company will also have opportunities to collaborate with NBCUniversal talent to enhance fan engagement.Good to know: In Q2 2025, DraftKings posted net income of $157.9m and achieved an adjusted EBITDA of $300.6m for the quarter.In a recent CEO profile in Gaming America, Jason Robins reiterated DraftKings’ forward-looking approach and highlighted the company’s advancement strategy in the evolving gaming space.NBC Sports PerspectivePeter Lazarus, EVP of NBC Sports, commented: “For over a decade, DraftKings has dominated the sports betting market, serving as an industry leader and marketplace innovator. There is no better company to integrate into our unrivaled portfolio of sports properties.“Combining our excellence in sports entertainment with DraftKings’ industry leading capabilities will transform the viewer experience just as NBCUniversal prepares to bring an unprecedented slate of sports programming to fans everywhere.”Market ImpactThe agreement positions DraftKings to connect with tens of millions of viewers across a year-round schedule of sports coverage, reinforcing its role in the expanding US sports betting and digital gaming markets.

Sports Betting ‘Preseason’: August 2025 Handle and Revenue Surge Across Key States
November 26th, 20254 mins

Sports Betting ‘Preseason’: August 2025 Handle and Revenue Surge Across Key States

Sports Betting ‘Preseason’ Winds DownTraditionally, the “driest” period of the year for sportsbooks, June through August, is coming to an end, as the NFL preseason wrapped up and the regular season began in September. The latest data reflects August numbers, since September figures are not yet published. One of the biggest jumps came from New York, where the handle grew more than 42% year over year.New York: The Heavyweight Keeps GrowingNew York continues to dominate the sports betting landscape. August 2025 saw a handle of $2.05 billion, up from $1.44 billion the year prior. Revenue also jumped from $126.0 million to $178.8 million, with a nearly identical win rate (8.73% vs. 8.74%). With steady growth all year (ranging from 9.5% in April to over 42% in August), September could even surpass the record set in January 2025, when New Yorkers wagered nearly $2.49 billion.New Jersey: A Rollercoaster with UpsideNew Jersey posted an $814.3 million handle in August 2025, compared to $698.8 million in August 2024. Revenue hit $81.9 million, a jump from $62.7 million. Monthly handles stood at $790.4 million in June and $664.0 million in July. While the state has had unpredictable swings, the last four months have all been higher than 2024. If that trend continues, September could approach a massive $1.39 billion in handle.Louisiana: A Year of Rapid GrowthLouisiana recorded a handle of $271.4 million in August 2025, a huge jump from $153.9 million in August 2024. Revenue also climbed significantly, from $18.1 million last year to $32.7 million this August. The state has seen consistent month-to-month growth: $245.3 million in June and $226.7 million in July. Based on the strong year-over-year growth trends (an average of nearly 18% over the past four months), Louisiana could be looking at a September handle of over $414 million.Maryland: Consistent Gains, Despite FluctuationsMaryland’s handle reached $434.2 million in August 2025, up from $377.3 million the previous year. Revenue followed the same upward trend, jumping from $39.2 million to $52.5 million. Handles in June and July came in at $403.8 million and $364.0 million, respectively. Although growth rates have been uneven (ranging from 5% in June to nearly 17% in May), the average increase over the last four months sits at 11.5%, suggesting a September forecast of around $594 million.North Carolina: A Newcomer Finding Its StrideIn just 18 months of legalized online sports betting, North Carolina has shown remarkable growth. August 2025’s handle hit $478.7 million, up from $370.5 million in 2024. Revenue surged from $33.8 million to $54.1 million. Handles in June and July were $433.2 million and $370.4 million. Except for April (which saw an 11% decrease year-over-year), North Carolina has been steadily rising. If the pattern holds, September could bring a handle of around $650 million.Pennsylvania: A Veteran StatePennsylvania continues to show stability in its mature betting market. August 2025 saw a handle of $515.4 million, slightly above $485.3 million in 2024. Revenue also rose, from $45.4 million to $66.5 million. Handles in June and July came in at $483.6 million and $412.5 million. Forecasts suggest a modest 5% year-over-year growth in September, which would put the handle at around $850 million.

DraftKings Sportsbook Promo: Bet $5, Get $200 for Pistons vs. Celtics
November 26th, 20256 mins

DraftKings Sportsbook Promo: Bet $5, Get $200 for Pistons vs. Celtics

DraftKings Sportsbook Promo OverviewDraftKings Sportsbook Promo: Get $200 in Bonuses for Pistons vs. Celtics (Nov. 26)DraftKings Sportsbook Promo: Get $200 in Bonuses for Pistons vs. Celtics (Nov. 26)DraftKings Sportsbook Promo: Get $200 in Bonuses for Pistons vs. Celtics (Nov. 26)There are plenty of strong matchups on the board tonight, and DraftKings Sportsbook is giving new users a great way to jump into the action. When you sign up through Bookies.com, you can bet $5 and get $200 in bonus bets if your first wager wins — no promo code needed.Your first $5 wager is all it takes to unlock the full $200 bonus. If that bet hits, DraftKings instantly loads your account with bonus bets you can use on tonight’s Panthers vs. 49ers Monday Night Football matchup, the rest of the NBA slate, upcoming college football action, or any sport you follow.DraftKings Promo Code Key Details for November 26DraftKings Promo Code Key Details for November 26:DraftKings Sportsbook Promo: Bet $5 Get $200 in Bonus Bets if Your Bet Wins.Promo Code: None Needed.Minimum Deposit: $5.DraftKings $200 Promo T&Cs: 21+ new users in eligible states.It’s one of the best sports betting promos available today, giving new users a shot to win $200 in bonus bets by betting on any game tonight.Steps to Claim the DraftKings Promo CodeSteps to Claim the DraftKings Promo CodeVisit DraftKings Sportsbook via a verified link.Sign up for a new DraftKings account (no promo code needed) to participate and access all features.Deposit $5 or more to activate your bonus.Place your first $5 bet on college football.If your wager wins, receive $200 in bonus bets and a free 3-month NBA League Pass instantly.The rewards are issued as a token and bonus bets, which are subject to expiration dates and specific usage requirements.Bonus bets are awarded only if your first bet wins. If your wager loses, you do not receive the bonus.For responsible gaming, DraftKings allows you to set max wager limits on your account to help manage your betting activity.NBA Best Bets with DraftKings Promo CodeNBA Best Bets with DraftKings Promo CodeNBA: Indiana Pacers at Toronto Raptors (7:30 p.m. EST)NBA: Minnesota Timberwolves at Oklahoma City Thunder (7:30 p.m. EST)For Wednesday’s best bets, we have two NBA plays, featuring two of the league’s best teams. First, take the Toronto Raptors to beat the Indiana Pacers. The Raptors have been a revelation this year, and should destroy the injury-ravaged Pacers on their home court. We also like the Oklahoma City Thunder over the Minnesota Timberwolves, as we are taking the best team in the entire league, the Thunder, to beat a Timberwolves squad that has been struggling as of late.Top Games for November 26Top Games for November 26NBA: Detroit Pistons at Boston Celtics (5 p.m. EST)NBA: Houston Rockets at Golden State Warriors (10 p.m. EST)NBA: Phoenix Suns at Sacramento Kings (10 p.m. EST)DraftKings Sportsbook Bonus for the NBA League PassDraftKings Sportsbook Bonus for the NBA League PassThe DraftKings promo offer gives new users the chance to bet $5 and get $200 in bonus bets if their bet wins, plus get three months of free NBA League Pass on DraftKings. This means you receive three months of NBA League access, allowing you to watch live and on-demand NBA games as part of the bonus. New DraftKings users are eligible for this free NBA League Pass offer, which provides complimentary access to live and on-demand NBA as part of the sign-up bonus package. This is a great offer, and we highly recommend new DraftKings customers take full advantage of it right now.The DraftKings promo is one per customer. You must select the NBA League Pass token before placing your $5 qualifying bet to receive your free NBA League Pass subscription. The NBA League Pass token is a promotional reward offered to new DraftKings users, and you will get one promo code for your 3-month NBA League Pass subscription. The maximum bonus bets are $200 if your first bet wins, and the minimum odds on the qualifying wager are -500 (i.e., -200, +200). The token for the NBA League Pass promo expires on November 23, 2025, and your bonus bets expire in seven days from the time you receive them.You must redeem your NBA League Pass subscription by December 12, 2025. Also, keep in mind that once your NBA League Pass promo subscription ends, your subscription auto-renews monthly at a rate of $16.99, but you can cancel it anytime.DraftKings $200 Promo Code FAQsDraftKings $200 Promo Code FAQsDo I need a promo code from DraftKings?No DraftKings $200 promo code is needed; you just need to be a new user present in states where DraftKings Sportsbook is operational and follow the steps described above.Where can I use the DraftKings $200 bonus?DraftKings Sportsbook can be used by eligible users in a wide range of legal sports betting states across the U.S.How can I use my DraftKings bonus bets?Use your $200 bonus across NFL, MLB, College Football, NBA, NHL, and more. Bonus bets can also be used on a wide range of futures markets, including futures basketball money lines, futures baseball money lines, futures hockey money lines, futures soccer money lines, futures tennis money lines, futures MMA money lines, futures boxing winner bets, futures golf outright, futures lacrosse money lines, futures snooker money lines, and props volleyball money lines. Bonus bets expire within 7 days, so use them quickly.

California Bill to Ban Sweepstakes Poker Sites Passes
November 26th, 20255 mins

California Bill to Ban Sweepstakes Poker Sites Passes

California Bill to Ban Sweepstakes Poker SitesSweepstakes poker sites are merely a signature from the governor away from being banned in California, following a unanimous Senate vote.Gov. Gavin Newsom (D) still has the option to veto Assembly Bill 831. But if he opts to instead sign the bipartisan bill, operating a sweepstakes-based online casino in the largest state in the country will become illegal.That's bad news for sites such as ClubWPT Gold and Global Poker. Those sites have used a loophole — requiring customers to purchase Sweeps Coins (SC) instead of casino chips to play poker — in jurisdictions that don't permit traditional online gambling.California Sweepstakes Poker Site Bill DetailsAB 831, sponsored by Assemblymember Avelino Valencia (D), received little opposition from California lawmakers. The bill passed through eight votes from April 2, 2025 to Aug. 29, 2025, with no resistance.The Assembly Standing Committee on Governmental Organization, on Sept. 11, passed the bill via a 20-2 vote. Valencia's anti-sweepstakes gambling measure then saw a 79-0 favorable vote on the Assembly floor last Friday. Gov. Newsom has until Oct. 12 to sign or veto the bill.AB 831 was drafted as a means for closing a loophole in the existing law. Existing law makes it unlawful in California to engage in specified activities related to gambling, including, among others, proposing or drawing a lottery, dealing or playing certain games played with cards, dice, or any device for money, and manufacturing, repairing, or owning slot machines.Current Gambling Status in CaliforniaLast update: Jun 24, 2025Live Poker is allowedOnline Poker is forbiddenOnline Casino is forbiddenSports Betting is forbiddenThis bill would make it unlawful for any person or entity to operate, conduct, or offer an online sweepstakes game. Those who violate the policy face misdemeanor charges with penalties up to a year in jail and $25,000 in fines.Industry Reaction and Tribal ConcernsThe Social Leadership and Gaming Alliance expressed disappointment in the California lawmakers for passing AB 831.“It is incredibly disappointing that the California Assembly decided to pass AB 831,” Jeff Duncan, Executive Director of SGLA wrote. “Beyond the fact that this bill would worsen economic disparities among California tribes, put California to the back of the line in terms of digital innovation in this space, and take away a popular form of entertainment for residents, it will immediately strip $1 billion out of the state’s economy."It is incredibly disappointing that the California Assembly decided to pass AB 831"“We implore Governor Newsom to veto this bill and instead open the door for online social games to support economically disadvantaged tribal nations and the state’s economy while positioning California as a leader in next-generation gaming technology.”Broader Crackdown on Sweepstakes CasinosCalifornia is the latest major state to ban the sweepstakes casino model. New York Attorney General Letitia James and the New York State Gaming Commission sent cease-and-desist letters to 26 online sweepstakes casinos in June.ClubWPT Gold and WSOP Promotion ControversyClubWPT GoldSweeps coin poker sites have received increased attention this summer due to a ClubWPT Gold promotion that offered qualifying World Series of Poker (WSOP) bracelet winners a $1 million bonus. The promotion stirred up controversy after Jesse Yaginuma, a contest winner, won the Millionaire Maker event after his heads-up opponent, James Carroll, allegedly dumped chips to him so they could chop the bonus money.ClubWPT Gold ceased operations in Louisiana and Connecticut last week and backed out of New Jersey a few months earlier. Lawmakers in some other states, including Nevada, have proposed measures that would effectively ban the sweeps coin model.What Happens Next for California PlayersPlayers on sweepstakes sites in California will still be able to play for a short while after the bill is officially passed. But that will likely change in January.

Ohio Gaming Director Backs League–Sportsbook Collaboration to Curb Corruption
November 26th, 20254 mins

Ohio Gaming Director Backs League–Sportsbook Collaboration to Curb Corruption

Ohio Regulator Sees National Collaboration as Best DefenseOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionMLB and Sportsbooks Move on Micro-Prop BettingOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionWhy State-By-State Rules May Fall ShortOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionLooking Ahead: Evolving Online Sports Betting RegulationOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting CorruptionOhio Gaming Director: Collaboration Between Pro Sports, Sportsbooks Has Best Potential To Limit Sports Betting Corruption

Nevada Ruling Deals Major Blow to Kalshi’s Sports Event Markets
November 26th, 20254 mins

Nevada Ruling Deals Major Blow to Kalshi’s Sports Event Markets

Nevada Federal Ruling on Kalshi’s Sports-Event ContractsNevada Federal Ruling Deals Major Blow to Kalshi’s Sports Event MarketsNevada Federal Ruling Deals Major Blow to Kalshi’s Sports Event MarketsNevada Federal Ruling Deals Major Blow to Kalshi’s Sports Event MarketsPosted on: November 26, 2025, 05:54h.Last updated on: November 26, 2025, 05:54h.Key Takeaways From the DecisionNevada judge rules Kalshi’s sports-event contracts are unlicensed gambling products.Decision weakens federal preemption arguments prediction markets use against states.Sportsbook stocks, including DraftKings, rise as rivals to face stricter scrutiny.Judge Rules Kalshi’s Products Are Gambling, Not SwapsA federal judge in Las Vegas has ruled, in effect, that Kalshi’s “sports-event” contracts amount to unlicensed gambling – not regulated financial instruments under federal law.Kalshi co-founder Tarek Mansour addresses Web Summit in Lisbon in November 2021. Yesterday’s ruling in Nevada could prove to be a disaster for his company. (Image: Getty)US District Judge Andrew Gordon’s ruling undermines the core assumption of Kalshi’s and similar platforms’ business models: that federal oversight automatically shields them from state gambling laws. Kalshi has presented the same argument in multiple legal battles with state regulators across the US, and so the ruling could ripple far beyond Nevada.Shares in US regulated sports betting platforms rose on the news, with DraftKings’ stock climbing by 7.7%.What’s an Event Contract?Kalshi is regulated by the CFTC because the product it offers, events contracts, are a type of derivative. These contracts allow users to speculate on the outcome of a specific event by placing money on a “yes” or “no” eventuality before expiring.Judge Gordon rejected Kalshi’s claim that contracts on sporting outcomes qualify as “swaps” under the Commodity Exchange Act (CEA), which would put them under the jurisdiction of the CFTC and pre-empt state gambling law.That interpretation is “strained,” and would, if accepted, effectively convert all sports betting into federally regulated derivatives trading, upending decades of state-level legal gambling frameworks, the judge said.Kalshi’s interpretation would require all sports betting across the country to come within the jurisdiction of the CFTC, rather than state and tribal gaming regulators, wrote the judge. That interpretation upsets decades of federalism regarding gaming regulation, is contrary to Congress’ intent, and cannot be sustained.And, more bluntly: “Nobody thought sports bets were commodities or excluded commodities or swaps until some brilliant people at Kalshi did.”Kalshi’s Shield Against States CracksThe case came about after Nevada sent Kalshi a cease-and-desist letter in March, accusing it of violating state gambling laws and warning that the state could pursue civil or criminal penalties. The company sued Nevada in response, winning a temporary order from Gordon blocking the state from taking action.Gordon dissolved the preliminary injunction he granted earlier this year that had protected Kalshi from enforcement by Nevada regulators. Now, with the injunction gone, they are free to act against the prediction platform.Things were looking great for Kalshi in October 2024, when a federal court allowed the company to list political event contracts ahead of the presidential election. That indicated federal courts were open to treating at least some prediction markets as lawful derivatives. Suddenly, the ground is far shakier for Kalshi.

1
recommended
offer icon
Free Bets
Get up to $1,000 in No Sweat Bets!
Fanatics Sportsbook review
gamblespot score
4.3 /5
Must be 21+ and present in an eligible state. T&Cs apply. Gambling problem? Call 1-800 GAMBLER.

Are you sure?

This will delete all chat history, and I will not remember what we were talking about.

Todays Hot Deals