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Online Poker Hopes Alive in Several States in 2024As 2024 got underway, state-regulated online poker in the United States with the same number of participating states as the year before. No new states legalized online poker and/or casino games in 2023, though lawmakers in numerous states proposed bills.There was some progress in the industry in 2023.Michigan had signed the Multi-State Internet Gaming Agreement (MSIGA) the prior year, and PokerStars was the first – and only – operator to connect its Michigan poker site to another state, which was New Jersey.And at the end of the year, West Virginia signed on to MSIGA. Having legalized online poker and casino games in 2019, West Virginia has yet to issue any online poker licenses. Online casinos have been running in the state for years, but poker operators didn’t see the benefit of launching in such a small state until its platform could be connected to those in other states. While no states have applied for a WV poker license yet, it seems likely that PokerStars, at least, will do so in 2024.2024 PredictionsFor reasons purportedly related to the governor being busy with election matters, Pennsylvania has yet to sign on to MSIGA. As a result, online poker revenue for 2023 dipped nearly 10% year-on-year. That downswing, though, makes it clear that liquidity is necessary for that segment of the igaming industry to thrive. It is very likely that Governor Josh Shapiro will cave to pressure and sign MSIGA this year.If this happens, expect PokerStars to be the first to obtain permission to join its Pennsylvania site to others, specifically Michigan and New Jersey.Speaking of liquidity, BetMGM has indicated that it will be connecting its Michigan and New Jersey poker sites this year. If it wants to run more satellites for live tournaments – perhaps those occurring in the summer in Las Vegas – it would behoove the company to launch the combined player pool in the spring, the earlier the better.While WSOP has been silent its online poker expansion, it seems likely that Caesars would push WSOP.com to join its Michigan, Nevada, and New Jersey sites. The problem is that WSOP needs to upgrade its software to do this. In an effort to further bind itself to GGPoker, the WSOP appears to want to relaunch all of its sites on GGPoker software, but that could be a labor-intensive task. The odds seem favorable that WSOP/Caesars will do this, but it would be even more of an undertaking to do it prior to the summer World Series of Poker. Doing so would allow the WSOP to offer online bracelet events to NV, NJ, and MI on a single platform.Predicting if new states will join the forever-burgeoning online poker realm in the US market requires hope beyond hope. Year after year, certain states – looking at you, New York – introduce bills that do not progress. Hope is alive for at least one state to join the group, but it’s anyone’s guess which one that might be.New York – S.8185 & A.9198The state of New York is like Lucy of Peanuts fame, holding out the football each year. And online poker fans are Charlie Brown, running to kick that ball, only to have it pulled away at the last minute. We, errr Charlie, lies there, disappointed yet again.Yet and still, the industry perked its little ears when NY State Senator Joe Addabbo Jr. reintroduced his S.4856 bill at the beginning of January 2024 and Assemblyman J. Gary Pretlow did the same with a companion bill Assembly Bill 9198.Addabbo took the reins, as he did in 2023, to try to push the bill. In fact, he delivered his latest effort less than two weeks into this year. It was Senate Bill 8185, which would authorize “interactive gaming and interactive lottery gaming in the state of New York.” More specifically, it would amend the current racing/pari-mutuel wagering/breeding law to allow for interactive poker and casino games, and it would amend the tax law to make way for lottery ticket sales online.The combination of new revenue could deliver as much as $1 billion dollars for the state, according to Abbaddo. And that money would go a long way to helping with New York’s deficit that hovers near $4.5 billion.Addabbo did push the issue with Governor Kathy Hochul when she prepared the state’s executive budget for the new year, but Hochul wasn’t having it. The fight will continue as the budget is amended and twisted through the legislature through the end of March, but Hochul seems resistant to putting igaming in the budget.With that, Addabbo is left with S.8185 in the State Senate, where he can try to convince lawmakers – again – that the state’s casinos, especially the new ones, could benefit greatly from companion gaming online. He did amend the bill – now S.8185A – a few weeks after its introduction; he included an agreement to hire union workers for the live casino games.Maryland – SB.565 & SB.603The appearance of Maryland in this year’s list of possibilities was not entirely unexpected. Maryland State Senators Ronald Watson and Nancy King introduced a bill in 2023 to authorize internet gaming. The bill even had a hearing in the Budget and Taxation Committee in February. The focus was on the new revenue for Maryland, as those providing testimony also explained how geolocation technology and cross-promotion with land-based casinos would work.The legislation failed to move forward, though, so Watson prepared a new bill for 2024. In fact, he introduced two of them during the last week of January. Both went directly to the Budget and Taxation Committee.The first piece of legislation – SB.565 – puts together the outline of online gaming and lottery sales for the purpose of submitting it to the voters of Maryland. Passage of this bill would put it on the November 2024 ballot to let the people decide if they want online lottery tickets, casino games, and online poker. The gist of the proposal is that the state’s share of revenue would be used to fund Maryland’s public education system.Secondly, there is SB.603, which would give the Maryland State Lottery and Gaming Control Commission the authority to issue igaming licenses, tax revenue, and enter into the multi-jurisdictional internet gaming agreements via MSIGA to allow operators to connect their online poker platforms across state lines. This bill is more detailed, including the following:Licenses will be issued to applicants that have maintained headquarters in Maryland for at least 10 years, presumably pertaining to the land-based casino partner of the online operator.Operators will employ at least 250 people in the state on a full-time basis.Operators must commit to spending at least $5M during the first year of licensing to build and operate a live gaming studio.License applicants will agree to pay $1M for the initial license, which will be valid for five years and renewable for 1% of the licensee’s average annual proceeds for the previous three-year period.Operators would retain 53% of proceeds with the rest going to the state for license vetting, regulatory processes, responsible gambling, and then to fund education.Both bills are currently on the docket for a February 28 committee hearing.Wyoming – HB.120This is a new one for 2024. It is not only a new bill but a new state in the mix of possibilities for state-regulated online poker and gambling. It may be the least populated state in America and one with only a handful of casinos on Native American lands, but it is now in the running for legalizing igaming this year.House Bill 120 made its debut on February 7, courtesy of Representative Robert Davis. Along with co-sponsoring Representatives Jon Conrad, Sandy Newsome, and Tom Walters, the bill seeks to authorize interactive gaming. The Wyoming Gaming Commission would oversee the regulatory duties. Interested operators would need to pay a $100K initial permit fee, which will give them a license for five years, after which they can pay $50K to renew for each subsequent five-year period.The kicker to this bill is that there must be five interactive gaming operator permits issued to create a competitive marketplace. If it happens, operators will only pay a 10% gaming revenue tax each month, but they must pay the first $300K of each year’s revenue to the Department of Health for gambling prevention and assistance.Hawaii – SB.3376 & HB.2259Every once in a great while, a lawmaker in Hawaii proposes some form of gambling. Some have proposed casinos, others igaming, and most recently, sports betting. Ironically, Hawaii is the only state besides Utah that has stood so firmly against any form of gambling that they don’t even offer lottery ticket sales.In 2016, Hawaii lawmakers introduced numerous bills to legalize igaming, including lottery ticket sales online, online poker and casino games, a standalone lottery, and daily fantasy sports contests. Some of those bills also wanted to make things like DFS specifically illegal. A few more bills over the years focused on gambling, but none of them made any progress through the legislature.This year, State Representative John Mizuno took on the issue and introduced HB.2259 on January 22, and Senator Ronald Kouchi introduced SB.3376 as a companion bill just two days later. Both bills seek to legalize online poker and sports betting only. In order to do this, Hawaii would have to establish a gaming commission and then issue ten-year licenses to approved operators. An astounding 70% of profits would go to victims of the 2023 wildfire devastation in Maui, and that percentage would decrease by 5% each subsequent year.The traditionally anti-gambling stance of most Hawaiian lawmakers, not to mention the general population, is likely to quickly derail these bills, as has happened in the past. The only appealing piece of these bills to the opposition would be the wildfire relief, as Maui has been devastated to the tune of billions of dollars.Illinois – SB.1656 & HB 2239Last year, Illinois took another look at internet gaming with a set of bills – one in the House and one in the Senate – titled the “Internet Gaming Act.” Both bills worked their way through committees and first readings, but that was the end of the story for 2023.The bills remained alive in Illinois, however, due to the framework of the state’s legislative sessions.That was enough for State Senator Cristina Castro to reassign her SB.1656 on January 10, 2024. It went directly to the Executive Committee. And Illinois Representative Edgar Gonzalez Jr. reintroduced his HB.2239 to the Rules Committee on January 31.The Senate bill went to the Subcommittee on Gaming, Wagering, and Racing on February 8. Neither committee with live igaming bills have any hearings scheduled, but hope remains alive for both bills. Longtime online gambling supporter Robert Rita is the Vice-Chairperson for the House Gaming Committee, and Castro herself is the Sub-Vice-Chair of the Gaming, Wagering, and Racing Committee.The Internet Gaming Act would expand gambling in the state to offer online poker and online casino games in partnership with land-based casinos. The Illinois Gaming Board would oversee the regulatory framework, including implementing emergency rules to enable the process to move more quickly. Operators would be responsible for a 15% privilege tax for the Illinois Gaming Fund, after paying initial license fees of $250K. They would be allowed to renew their licenses for $100K each.Maine – HB.1140 / LD.1777Lawmakers in Maine also carried a bill over from 2023 to 2024. Representative Laura Supica was responsible for LD.1777 (also known as HB.1140) in 2023 as its sponsor, with cosponsors listed as State Senators Craig Hickman, Representatives Ambureen Rana and Amy Roeder, House Speaker Rachel Talbot Ross, and Senate President Troy Jackson. It was a top-tier lineup of support for a bill that would allow Wabanaki Nations to launch internet gaming. That bill made it to a Veterans and Legal Affairs Committee hearing, only to be tabled and then carried over to the next year.Next year is now, and the bill went into a committee hearing on January 3. That appeared to be a positive sign…until a bomb threat ended the hearing. That pushed the bill to a January 29 hearing, which the members did discuss the bill and a proposed amendment. They then tabled the bill pending the introduction of a draft of the amended proposal. Interested parties continue to wait on that before setting a new hearing.Iowa – HSB.227There is not exactly a legislative proposal but a study bill – HSB.227 – in the Iowa House of Representative. Representative Bobby Kaufmann introduced the bill in January 2023, and it went directly to the Ways and Means Committee. After several subcommittee meetings, though, the bill lost ground with a one-to-zero vote to send it back without recommendation.HSB.227 may only result in further discussions about online gambling, what is referred to in the bill as “advance deposit gambling” to be handled “from the wagering area of a racetrack enclosure, from the gaming floor, and from the sports wagering area.” There is a lot missing from the bill, but it can remain open for further discussion through January 12, 2025.

Kalshi's growing legal challengesKalshi's legal disputes are intensifying, with a New York class action that claims it has deceived thousands of consumers into using its “illegal sports betting platform.”The development adds to a recent Nevada ruling challenging the prediction market operator’s position that its sports event contracts fall under federal commodities regulation rather than state gambling control.Regulatory status and Nevada court rulingKalshi operates as a designated contract market (DCM) regulated by the Commodity Futures Trading Commission (CFTC). The company maintains that its “trading” activity is within the federal commodities framework and not subject to state gaming laws. Kalshi has self-certified its sports contracts with the CFTC.However, a recent Nevada court decision rejected that premise. On November 24, US District Judge Andrew Gordon dissolved a preliminary injunction granted earlier this year, which had temporarily barred Nevada regulators from acting against the company. The judge ruled that Kalshi’s interpretation of commodities law “upsets decades of federalism regarding gaming regulation” and conflicts with congressional intent under the Commodity Exchange Act.Nevada regulators have stated they may take enforcement action against companies offering what they regard as unlawful sports betting.Class action accuses Kalshi of operating a sportsbook modelAlongside the Nevada ruling, Kalshi is now facing a nationwide federal class action filed in the Southern District of New York, accusing the company of operating unlicensed sports gambling.The lawsuit argues that consumers “do not only bet against each other—they also bet against the House,” claiming that market maker subsidiaries Kalshi Trading LLC and KalshiEX take opposing positions to customers when trading diverges from Kalshi’s internal projected odds. The complaint further alleges partnerships with hedge funds, including Susquehanna International Group, to provide institutional market making.According to the filing, market makers are positioned to profit when consumers lose. It further alleges that “consumers do not realize they are actually being tricked into sports betting against Kalshi.” The suit seeks recovery of customer losses and requests a jury trial with the possibility of treble damages.Sports contracts and platform volumeAlthough Kalshi offers a variety of event-driven markets, plaintiffs claim the activity resembles traditional betting. Examples listed in the suit include wagers on NFL game winners and whether specific players exceed performance thresholds.The complaint states that in September, 90% of Kalshi’s volume involved “sports betting,” estimating about $2 billion in bets placed on sports contracts. Plaintiffs seek to certify a nationwide class and subclasses for 30 states and Washington, D.C., citing alleged violations of state gambling and consumer-protection laws in New York, California, Florida, and others.Kalshi’s response to the allegationsKalshi rejects the allegations. “This lawsuit demonstrates many fundamental misunderstandings about how federally regulated DCMs operate,” a spokesperson told Front Office Sports. “Anyone who understands how Kalshi works will see it for what it is—meritless fiction. We look forward to responding further in our court filings.”

GeoComply Data Links Enforcement to Regulated Market GrowthGeoComply data shows that U.S. states taking action against offshore sports betting are directing more players toward regulated markets. The geolocation provider reached this conclusion after observing sports betting activity across 10 U.S. states with comparable adult populations.Several states have pursued legal action against unauthorized offshore operators through enforcement measures or cease-and-desist letters. Following the removal of these illegal operators, licensed gambling platforms in those states have reported an increase in new account registrations.Legal online casinos and sports betting operators have also experienced higher levels of user activity.Crackdowns on Offshore Sites Drive Online Sports Betting GrowthGeoComply’s recent study analyzed sports betting activity across 10 states with similar adult demographics. The analysis centered on five states that initiated enforcement measures against offshore operators within the past year: Arizona, Michigan, Louisiana, Massachusetts and Tennessee.These were compared to five states that did not pursue similar legal actions: Indiana, Kentucky, Iowa, North Carolina and Virginia.The review found that states taking legal action experienced a 10% faster increase in active users year-over-year compared to the other states. They also recorded a 39% rise in new account registrations during the same period.Commenting on the study’s findings, GeoComply CEO Kip Levin said: “The results show that enforcement is effective. When states take action against unlawful sportsbooks, players shift toward the legal, licensed market.”He added that many consumers struggle to distinguish between regulated sportsbook platforms and offshore sites. However, regulatory efforts help raise awareness and direct players toward safer, more accountable operators.Tennessee and Michigan Lead Fight Against Illegal Online CasinosGambling regulators in Tennessee and Michigan have been among the most aggressive in targeting illegal operators. In a recent move, Tennessee regulators fined five offshore sportsbooks $250,000 total for offering illegal gambling services in the state. Each operator was ordered to pay a $50,000 fine.Tennessee’s sports betting law empowers its Sports Wagering Council to impose a $10,000 fine on operators for a first violation. A second offense results in a $15,000 penalty, followed by a $25,000 fine for a third infraction. After that, the council may issue a $25,000 fine for each additional bet accepted in violation of its rules.Michigan has followed a similar course of action by issuing cease-and-desist letters to unlicensed gambling operators. Over the past year, the state regulator has sent more than 40 letters to platforms offering betting services without approval. These measures have put a stop to the activities of operators such as Bovada and BetUS in the state.Commenting on the necessity of enforcement, Michigan Gaming Control Board Executive Director Henry Williams said, “Illegal betting activities exploit vulnerable consumers. It also weakens the integrity of the regulated gaming industry.”He added that Michigan residents are entitled to the safeguards provided by licensed, legal gaming. As a result, regulators in the state will continue to take firm action against those who operate outside the law.In Arizona, regulators have issued stop orders to multiple operators taking bets in the state, describing them as “alleged felony criminal enterprises.” In Massachusetts, the attorney general followed up on recent crackdowns by issuing cease-and-desist letters last month to SportsBetting.ag and BetOnline.ag.U.S. Attorneys General Press DOJ on Offshore Online BettingOffshore betting operators in the U.S. are likely to face more challenging conditions in the near future. This comes after 50 state attorneys general urged the U.S. Department of Justice in August 2025 to take stronger action against offshore sportsbooks.In an Aug. 4 letter, the attorneys general argued that they cannot eliminate the market on their own. The letter stated in part: “We seek the DOJ’s cooperation in holding these companies accountable to the fullest extent permitted under state and federal law, both criminal and civil, for any potential violations.”The letter also cited a November 2022 report from the American Gaming Association, which estimated that illegal online casino and sports betting handle totals around $400 billion annually. That represents about one-third of all sports betting wagers in the U.S. and results in nearly $5 billion in lost tax revenue.Despite the request, it remains unclear how the DOJ will respond. Should the department take action against illegal betting platforms, it could pursue any of these three options:Collaborate with financial institutions to block illegal gambling transactions.Use federal law to obtain injunctive relief and seize websites.Confiscate the assets and domain names of illegal offshore gaming entities, several of which have already been targeted by state regulators.If any of these measures are implemented, players interested in sports wagering will be pushed toward licensed sites. As a result, regulated sports betting and casino operators are expected to see continued growth. Such a shift would benefit all parties involved, as state governments would collect more tax revenue and consumers would play under regulated conditions.

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DraftKings Promo Code Thanksgiving Offer OverviewCreate a new online sports betting account today with the DraftKings promo code to claim a $200 bet-and-get promo. Simply sign up and place a $5+ first bet at -500 odds or longer to secure $200 in bonus bets if you win. In addition to the bonus bets, you receive three months of NBA League Pass, regardless of the outcome of your initial wager. Use the DraftKings promo code to bet on today's NFL Thanksgiving games, including Bengals vs. Ravens at 8:20 p.m. ET on NBC.The structure of the DraftKings sign-up bonus is quite unique, given that there are minimum odds and first bet requirements attached to it. As a result, Action Network experts strongly advise placing your initial wager at as close to -500 odds as possible to give yourself the best chance at the $200 in bonus bets. Remember, you receive the three months of NBA League Pass regardless of the outcome of your first bet.DraftKings Sign-Up Promo DetailsDraftKings Sign-Up Promo OfferDraftKings Sportsbook StatesDraftKings Promo CodeBet $5, Get $200 in Bonus Bets If Your Bet Wins + 3 Months of League Pass On UsAZ, CO, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, WYPromo available for eligible new usersBetting Bengals vs. Ravens With the DraftKings Promo CodeUse the DraftKings promo code to place your first bet on tonight's Thanksgiving NFL game between the Cincinnati Bengals and the Baltimore Ravens. Tonight's matchup represents the return of Bengals' star quarterback Joe Burrow, and you can bet on him in his comeback now at DraftKings Sportsbook.Let's take a look at a betting example to demonstrate how the DraftKings promo code works when you sign up as a new user.Example: Burrow Passing Yards BetSuppose a bettor places a $5 first bet on Burrow to record 170+ passing yards (-1300) vs. Baltimore:If the bet wins, the bettor receives $0.39 in profit, the $5 stake back, $200 in bonus bets, and three months of NBA League Pass.If the bet loses, the bettor only receives three months of NBA League Pass.DraftKings Missouri Pre-Registration BonusMissouri sports betting is set to go live on December 1, 2025, and bettors in the state can sign up ahead of launch with the DraftKings Missouri promo code. When they do, they receive a $300 bet-and-get promo. Place a $5+ first bet and get $300 in bonus bets, win or lose.How to Sign Up for DraftKings SportsbookDraftKings Sportsbook provides a clear set of steps for new users to follow in order to claim the Thanksgiving promo and NBA League Pass offer.Use the DraftKings promo code link and create a new online sportsbook account.Enter and verify personal information, including name, email address, and home address.Agree to the DraftKings Sportsbook terms and conditions.Make a $5+ first cash deposit using any of the available DraftKings Sportsbook banking methods.Place a $5+ first bet on Bengals vs. Ravens NFL or any other betting market and get $200 in bonus bets if the wager wins and three months of NBA League Pass win or lose.Key Terms to KnowThe DraftKings promo requires a minimum first bet of $5 at odds of -500 or longer. Bonus bets are single-use, non-withdrawable, and expire seven days after issuance, with the stake removed from any payout. The NBA League Pass subscription is complimentary for three months and then auto-renews at the standard monthly price unless canceled.

Key TakeawaysMajor operators like FanDuel, DraftKings, and Underdog are opting, in some instances, for federally regulated prediction markets over state-regulated sportsbooks.The shift suggests that prediction markets are becoming a more attractive alternative to traditional sportsbooks.Prediction markets are growing quickly and even mainstream companies are joining in, creating the risk of states being sidelined from their traditional role as gambling regulators.Nevada’s Clash With Prediction MarketsEarlier this month, the Nevada Gaming Control Board blasted out a notice to its licensees. The Nevada sports betting regulator said that it had "accepted the surrender" of FanDuel-owner Flutter Entertainment's order of registration, as well as all related licenses and approvals for Flutter and FanDuel.So, there went one of the biggest legal sports betting operators in the U.S. The board then added in its notice that it had given approval to requests by DraftKings to withdraw all of its pending sports betting applications in Nevada. There went the other biggest operator.The strongly suggested reason for this was prediction markets.“It has been made clear to the Board that Flutter Entertainment/FanDuel and DraftKings intend to engage in unlawful activities related to sports event contracts,” the control board said. “This conduct is incompatible with their ability to participate in Nevada's gaming industry.”To sum it up, you could infer that DraftKings and FanDuel were abandoning interest in the gambling mecca of Nevada because they want to launch prediction markets that will put them in the bad books of the local regulator.Underdog’s Decision in MissouriConsider this as well: word got out this week that Underdog, a force in daily fantasy sports and an early adopter of the prediction market-style of sports betting, was walking away from a Missouri sports betting license.Mike Leara, executive director of the Missouri Gaming Commission, told FOX 2 in St. Louis that Underdog was choosing prediction markets over Show-Me-state-regulated sports betting.“They have decided to go to that market,” Leara said. “It’s not regulated at any level compared to what traditional sports betting is regulated, and obviously, there’s no tax on it.”So, the through line from Nevada to Missouri was companies choosing federally regulated prediction markets over state-regulated sports betting. Big or small, they opted for sports event contracts over traditional sports wagering.That says something about the state of sports betting in the U.S. right now. First, in practice, sports betting is no longer the exclusive domain of states, their lawmakers, and their regulators. Second, the federal version of sports betting can be more appealing to sports betting operators in some instances.Federal Versus State ControlFor some states, such as Nevada, this is concerning. That’s why Nevada regulators are in court scrapping with prediction market operators, including Crypto.com, a partner to Underdog.On Tuesday, a federal judge sided against Kalshi in ongoing, prediction market-related litigation there. That legal action hinges largely on whether federal commodities law and oversight that governs prediction markets, or designated contract markets (DCMs), preempts state-level gambling regulation.Chief District Judge Andrew Gordon wrote that if Kalshi's view is adopted, "there is a not-insignificant chance that the regulated entities in this state will abandon their current model and become DCMs, unleashing even more unregulated gambling and devastating the Nevada economy and related tax revenues."“Indeed, recently, two of the ‘largest sports betting operators in the U.S., FanDuel and DraftKings, agreed ... to not seek licensing in Nevada in order to focus efforts on launching prediction markets in other states,’” Gordon added, citing recent media coverage.Gordon quashed an earlier injunction he had granted to Kalshi, which had kept Nevada sports betting regulators at bay. Kalshi is appealing and seeking to stay the dissolution of the injunction.But there it is in black-and-white: prediction markets present an opportunity for gambling companies to shake off the constraints and taxation of states and pursue a federal form of de facto sports wagering.Choose Your Own Adventure SportsbookIf you’re a sportsbook operator and you’re weighing whether to apply for or renew a state license, you can now consider whether you’d like instead to be a prediction market. Instead of being the "house," and offering -110 moneylines and spreads, you can run an exchange, and let users buy and sell contracts for 52 cents apiece.While there is legal and regulatory risk in doing this, for some companies the rewards could outweigh the risks. And, at the end of the day, it may still be easier to ask for forgiveness than permission.Which brings us back to Underdog, which bills itself as “the fastest-growing sports company in the U.S.”Underdog is definitely a disruptor or innovator in the world of fantasy sports and sports betting. It and others shook the online gambling industry up with parlay-like pick’em contests.When it comes to state-regulated sports betting, Underdog has taken some shots as well. It brought its fantasy-friendly brand of sports wagering to North Carolina. It was also poised to launch an online sportsbook in Missouri, lining up a "market access partnership" with Major League Baseball's Kansas City Royals.However, Underdog was quick to grasp the potential of prediction markets. It is offering its sports predictions product in Missouri right now.The Missouri Gaming Commission was taking a wait-and-see approach to sports event contracts, but it was not going to look favorably on its sports betting licensees running a prediction market in its backyard. So a choice was evidently made, and Underdog decided to be a prediction market in Missouri, rather than a state-regulated sportsbook.Show-Me Something ElseAgain, that says something. One of the more innovative sports betting operators took a look at what is a relatively friendly state for the industry and said it just doesn’t make enough sense for us. Instead, we’re going federal.We're not talking about New York and its 51% tax rate for mobile sports betting operators. We're not even talking about Illinois and its per-bet tax on top of an increased tax rate.We're talking about Missouri, a state that legalized sports betting using a ballot measure that was backed financially by DraftKings and FanDuel. Missouri, in theory, is supposed to be a more commercially sensible state for sportsbook operators.It just clearly doesn't make enough sense for every sportsbook operator. Not when there is now an alternative route, a path to sports betting via federal regulation.This is the case with other states as well. A one-size-fits-all approach to sports betting regulation doesn't necessarily fit all. The difference is that prior to late 2024, there wasn't as good an alternate route for outsiders to take. Now they have prediction markets, at least for as long as those prediction markets are able to offer sports event contracts.So sports betting states can fight this new reality, and try to shutter prediction markets. Several are.State lawmakers could also rethink their legal markets, and consider if what they've permitted is attracting the best product and brightest minds. Or, in other words, these lawmakers could ask themselves: is your version of sports betting all that good?Awkward Timing for Legal Sports BettingUnfortunately, the growth of prediction markets is happening at a very awkward time for legalized sports betting.There have been indictments handed down charging professional athletes with sports betting-related misdeeds. There is seemingly a new sports betting-related concern arising every week.Right now, it’s easier just to bash regulated sports betting as bad, as something that corrupts and cheapens national pastimes. If anything, it seems more acceptable at the moment to propose shoving the sports betting genie back into the bottle, to re-criminalize it or further restrict wagering. Some lawmakers want to ban certain player props, while others think sportsbook operators deserve higher tax rates. The governor of Ohio regrets legalization altogether.It's an understandable reaction. And, in this climate, what state in its right mind is going to suddenly try to make it more enticing for gambling companies to do business? How would it fly with voters if you slash tax rates for sportsbook operators? Where would the political capital be in going to bat for the gambling industry?There is also the fact that state-regulated sportsbooks are doing brisk business even with prediction markets operational.State-regulated sportsbook handle continues to rise, with the American Gaming Association reporting recently that it increased 13.9% in the third quarter, to more than $33 billion. Prediction markets would need to up their game significantly to poach business from sportsbooks in a meaningful way.Robinhood and the Prediction Market BoomHowever, it's obvious that some pretty significant players believe there is a serious opportunity to be had. On Tuesday, another disruptor, Robinhood, announced it is partnering with “market making leader” Susquehanna International Group on its own prediction market.“Prediction Markets have quickly become Robinhood’s fastest-growing product line by revenue,” the company said. “Just one year since launch, 9 billion contracts have been traded by more than 1 million Robinhood customers. By introducing a robust, institutional-grade exchange to the market, we’ll add more choices for consumers. We’ll also gain the flexibility to build faster and deliver more contracts and services to traders.”The Prediction Market PredicamentThis is the real prediction market predicament. A federal market for sports betting that looks like it can only be curbed by the courts, and a state-regulated one that is being curbed all over.There has been rapid change in a short time.A year ago, sports event contracts weren't a thing. A year later, they're definitely a thing. And, a year from now, it might become clear whether they have become the thing.

DraftKings Goes Bilingual: New Spanish DraftKings ExperienceDraftKings just rolled out one of its most meaningful product updates in a long time, and it has nothing to do with new odds boosts or fresh betting markets.The company officially launched a full Spanish-language version of its sportsbook and DraftKings casino app, opening the door for a smoother, more accessible experience for millions of Spanish-speaking users across the United States and Ontario.It’s the kind of upgrade people have wondered about for years, yet now that it’s finally here, it instantly shifts what “personalized” really looks like in this industry.Here’s a closer look at what DraftKings introduced, why it matters, and how this move could shape the way players use betting apps throughout 2025 and beyond.A Platform Designed for a Growing AudienceDraftKings didn’t hide the motivation behind this update. Spanish-speaking customers make up one of the fastest-growing segments of its user base, which created a pretty clear opportunity. According to Chief Product Officer Corey Gottlieb, the goal was to make the platform more intuitive and more authentic for players who use Spanish as their primary language.This wasn’t a light translation effort either. The company went for a full-scale Spanish environment that touches every corner of the app. From account creation to gameplay and promotional materials, the experience is designed to feel complete rather than pieced together.The rollout starts with select existing Spanish-language users in the U.S. and Ontario, to expand it across the entire player base over the next few weeks.A Fully Translated Sportsbook and Casino ExperienceEarly versions of language toggles at online casinos have usually been partial. DraftKings aimed far higher. The new Spanish product covers:Account onboardingNavigation menusBetting marketsCasino contentGameplay interfacesPromotionsDedicated customer supportResponsible gaming resourcesEverything lives natively in Spanish, so users no longer bounce between languages during high-pressure moments like locking in bets or contacting support. The app even auto-adjusts to Spanish if the customer’s device is already set to that language. New users can download the Spanish-only version right from the start.This approach signals that DraftKings wasn’t simply checking a box. It’s an entire product environment rebuilt with multilingual functionality in mind.Why This Rollout Feels Bigger Than a Language UpdateThis launch arrives during a busy expansion stretch for DraftKings. The company recently secured approval to begin operating sports betting in Missouri on December 1, becoming only the second mobile operator cleared for launch. The team also unveiled its first retail sportsbook in Puerto Rico at the Foxwoods El San Juan Casino.DraftKings clearly sees value in strengthening its presence in markets where Spanish is widely spoken. Puerto Rico is an obvious one, but large pockets across the U.S.—especially in states like California, Texas, Florida, Nevada, New York, and Arizona—have massive bilingual communities that sportsbooks have only partially catered to until now.A fully Spanish experience helps DraftKings reach potential sports betting and casino users whom English-only interfaces have missed. It also supports the company’s broader push toward personalization, which has become a core part of its product philosophy.A Glimpse of Where DraftKings Is HeadingThis update builds on the momentum DraftKings has been carrying for most of 2025. The operator remains one of the industry’s biggest players, ranking second nationally in sportsbook market share behind FanDuel. Its iGaming presence continues to expand as well, especially through Golden Nugget Online Casino and its growing footprint in legalized states.DraftKings also isn’t slowing down on innovation. The company revealed earlier this month that it plans to enter the prediction markets space in early 2026, adding yet another layer to its ecosystem. Spanish integration fits into that larger picture of expanding not just in reach, but also in product versatility.Sports wagering, iGaming, lottery services through Jackpocket, and daily fantasy sports in over 40 states—DraftKings has pushed to turn its platform into a multi-lane entertainment hub. A complete Spanish-language rollout strengthens all those verticals.What Customers Can Expect Over the Coming WeeksNot everyone will see the Spanish version right away. The current plan is an intentional slow-roll launch, starting with select users in both the U.S. and Ontario. Once the initial group tests the experience and DraftKings tightens any loose ends, the update will reach a wider audience.Users who prefer Spanish will eventually get:Tailored promotionsSpanish-language support agentsEducational content rewritten for clarityA streamlined betting flow built for bilingual comprehensionEverything will look and feel like the standard DraftKings product, just rebuilt from the ground up to prioritize a different language.The timing feels right, too. Sportsbooks are fighting for better retention tools, smoother user experiences, and more customization. A fully localized platform helps DraftKings attract and retain players who haven’t always been directly addressed.Why This Matters for the IndustryIt’s rare to see something that feels both long overdue and strategically brilliant. A large portion of North American bettors speak Spanish at home, yet major operators have largely relied on English-first interfaces with occasional translation features.DraftKings stepped beyond a simple language toggle and introduced a full, immersive alternative. Competitors will almost certainly follow, especially those trying to grow in states where bilingual populations drive digital engagement.User expectations will shift, too. If DraftKings delivers a polished, thoughtful Spanish-language experience, customers may start expecting the same attention from every other operator.A Smart Move With Big UpsideDraftKings’ decision to roll out a full Spanish-language platform shows it understands what today’s sportsbook users actually want: a simple experience, a personal touch, and a product that meets them where they are. The update doesn’t overhaul the core DraftKings product, yet it instantly makes the platform better for a huge group of players.It also hints at where sportsbook innovation is heading. The next wave isn’t just about new bet types or eye-catching promos. It’s about making the entire experience more accessible and more inclusive, especially for communities that haven’t always been fully supported.Spanish-speaking customers now get an experience built with them in mind, and DraftKings gains a real advantage in the race for long-term loyalty. This might look like a small change on the surface, but it could influence the industry far more than people expect.

Missouri Sports Betting: Responsible Gambling Measures in 2025Sports betting is already legal in Missouri, and the industry is set to launch Dec. 1, 2025. While many residents eagerly await the rollout, there is also credible concern about gambling’s potential harms. For example, the University of Missouri has expressed worry about the well-being of its student-athletes, and one option under consideration is banning betting entirely for its campus community.Gambling can be addictive and can contribute to a wide range of related problems. As a result, state authorities, sportsbook and casino operators, and other stakeholders have emphasized the need for strong responsible gambling measures.How Missouri plans to protect bettors as sports wagering goes liveResponsible gambling focuses on control, balance and informed choice. In Missouri, all casinos — and, by extension, sportsbooks — are required by law to promote responsible gambling initiatives in their operations. The Missouri Gaming Association also runs a variety of responsible gambling programs funded by operators.Missouri already has a robust responsible gambling infrastructure, and the same tools that aid casino players are expected to benefit sports bettors. Here’s how responsible gambling works in the Show-Me State:Strict Code of Conduct for operatorsLike Missouri casinos, sportsbooks will follow the American Gaming Association’s Code of Conduct, a set of ethical principles and voluntary guidelines. In addition to standards for security and fairness, the code emphasizes responsible gambling across all operations, including customer education, employee training, user verification and responsible marketing practices.Player education and awarenessEducating bettors is one of the most effective ways to address problem gambling early. Sportsbooks will provide players with educational materials explaining the risks of gambling, and they are expected to participate in campaigns during Responsible Gaming Education Month, held each September.KYC verificationThe legal gambling age in Missouri is 21. Casinos and sportsbooks must enforce strict age controls and maintain zero-tolerance policies for underage gambling. This includes rigorous “know your customer,” or KYC, verification processes to confirm users’ ages and identities.Counseling and therapyPeople experiencing problem gambling may require professional support, and their families may need help as well. Missouri already offers several resources, including:Missouri Problem Gambling Helpline: 1-888-238-7633Missouri Department of Mental Health: Provides treatment and counseling for problem gamblers and their families.National Problem Gambling Helpline: Call 1-800-522-4700, text 800GAM, or chat via the National Council on Problem Gambling website.GamTalk: A free online peer-support forum for those affected by problem gambling.Gam-Anon: A support group for family members and friends of people with gambling problems, with meetings held online and in person.Gamblers Anonymous: A self-help group for individuals struggling with gambling addiction.Statewide self-exclusionCasino players in Missouri may voluntarily ban themselves from all casinos through the Missouri Gaming Commission’s Disassociated Persons Program, which requires operators to block participants from all gambling activities. Likely, this program will also apply to sports bettors once the industry launches.Operator controls and limitsSportsbooks offer tools to help players manage their gambling behaviors, including:Deposit limits: Caps on how much a player can deposit within a set time period.Bet limits: Restrictions on the amount a player can wager on individual bets to encourage bankroll management.Loss limits: Limits on how much a player can lose before additional betting is restricted. Related tools, such as profit-and-loss statements and spending calculators, help players track activity.Time limits: Controls on how long a player can spend on a betting platform, often paired with reality-check notifications.Cool-off periods: Short-term breaks ranging from one day to several weeks.Self-exclusion: Long-term or permanent bans initiated by the player.Proactive safeguardsState officials are aware of the risks associated with expanding gambling access. To prepare for legalized sports betting, Missouri has implemented several safeguards, including a $5 million compulsive-gambling fund dedicated to prevention, treatment and public awareness efforts.

College Football Week 14 Betting OverviewThere are several noteworthy games on the college football Week 14 oddsboard, as conference championship hopes and College Football Playoff bids are on the line.But no matter what’s at stake elsewhere, no game is bigger than The Game: Ohio State vs. Michigan.Bookmakers and bettors recognize the significance, season after season.“It’s one of the biggest-bet games every year, in one of the biggest and best rivalries,” Caesars Sports head of football trading Joey Feazel said. “This year’s game is again going to drive a lot of action.”Further bolstering Buckeyes-Wolverines: It’s the Big Noon Kickoff on FOX.Bookmakers and sharp bettors offer their insights on Ohio State vs. Michigan and more, as we dive into this week’s college football betting nuggets.College Football Rocks on FOXOhio State is a perfect 11-0 straight up (SU) this season and is the nation’s best outfit against the spread (ATS), as well, with a 9-1-1 mark.Put simply, the Buckeyes are destroying everything in their path, covering huge point spreads week after week.However, Michigan (9-2 SU/4-7 ATS) is on a four-game win streak in this rivalry. Last year, the Wolverines were hefty 19.5-point road underdogs and upended Ohio State 13-10.The point spread is significantly shorter this year, but the Buckeyes are still double-digit road favorites for this noon ET Saturday kickoff. Caesars Sports opened Ohio State -11.5, and the line is down to -10 as of Wednesday evening.That’s due in part to Buckeyes action slow to arrive so far this week. But it’s coming, and in droves, Feazel said.“I anticipate a lot of Ohio State action. It’ll be a one-sided match, and we’ll need Michigan come game time,” Feazel said. “Ohio State looks unstoppable on offense, and its defense looks even better.”Lone Star State ShowdownTexas A&M (11-0 SU/5-6 ATS) meets archrival Texas (8-3 SU/3-8 ATS) in a 7:30 p.m. ET Friday kickoff. A&M is looking to clinch a spot in the SEC Championship Game and bolster its CFP credentials.On the flip side, Texas’ CFP hopes are in dire straits. The Longhorns need to upset the Aggies, then have a host of other dominoes fall this weekend, inside and outside the SEC.Caesars Sports opened A&M as a 2.5-point road favorite, and that’s where the line remains Wednesday evening.“The Aggies are starting to get a lot more respect,” Feazel said. “So far, we’re seeing a lot more action on A&M. But by Friday, I anticipate two-way action in this game.”On Campus Sharp SideCollege football betting expert Paul Stone is already involved with Texas A&M-Texas. And he’s not following the lead of most early bettors.Yes, A&M is looking to complete a perfect regular season, and there’s no team the Aggies would rather do that against than Texas. And on the Longhorns’ home field, no less.Stone noted that Texas was ranked No. 1 in the preseason, but fell short of those expectations and is a long shot to make the 12-team College Football Playoff. However, Stone foresees the Longhorns putting the first blemish on A&M’s record.He’s on Texas +2 vs. Texas A&M.“Texas A&M is one of the best teams in the country, without question. But the Aggies' SEC opponents currently have a combined 11-40 record in conference play,” Stone said. “Texas is certainly not void of talent, and I look for Arch Manning and the Longhorns to knock off the Aggies in Austin.”ACC MiseryMiami (9-2 SU/6-5 ATS) is No. 12 in the latest College Football Playoff rankings. That’s the highest of any ACC outfit. But it might not be enough to get the Hurricanes into the 12-team CFP field, even if they beat Pittsburgh (8-3 SU and ATS).That’s because Miami will be hard-pressed just to make the ACC Championship Game. The ‘Canes need to win at Pitt in Saturday’s noon ET kickoff, and have Virginia (a 9.5-point home favorite) lose to Virginia Tech, and SMU (a 13.5-point road favorite) lose to California.There’s still a path to the CFP for Miami without reaching the ACC title game, but it’s pretty unlikely.Caesars has Miami as a 7-point road favorite vs. Pitt, which also needs to win and have SMU or Virginia lose in order to reach the ACC final.“The ACC is out of both teams’ hands right now. Both need to win this game and get help,” Feazel said. “Right now, we’re only seeing Pitt action. But I anticipate more Miami money as we get closer to Saturday.”Simple Formula in the Iron BowlAlabama (9-2 SU/7-4 ATS) doesn’t need help from anyone to reach the SEC Championship Game, which would absolutely lock down a CFP bid, as well. All the Crimson Tide have to do is win Saturday night at Auburn (5-6 SU/4-6-1 ATS).Caesars opened ‘Bama as a 5.5-point favorite, and on Tuesday, the line went to Tide -6, where it remains Wednesday night.“This is another game that’s gonna drive a lot of action,” Feazel said. “So far, more Alabama action has come in. I expect that to continue because of how big this game is for the Tide. This is Alabama’s game to lose.“But the Iron Bowl is Auburn’s Super Bowl.”Meaning you can never rule out an upset. It happened in Michigan-Ohio State last year, with the Wolverines a much bigger underdog on the road. So it could certainly happen for Auburn at home.About the AnalystPatrick Everson is a sports betting analyst for FOX Sports and senior reporter for VegasInsider.com. He is a distinguished journalist in the national sports betting space. He’s based in Las Vegas, where he enjoys golfing in 110-degree heat. Follow him on X: @PatrickE_Vegas.

Overview of the Proposed RegulationsNJ Division of Gaming Enforcement Proposes New Responsible Gaming RegulationsUpdated: September 18, 2025 at 5:14 pm EDTThe New Jersey Division of Gaming Enforcement is hoping to approve new responsible gaming regulations that mandate online gaming operators set a standard for when customers require intervention for problem gaming.The New Jersey Division of Gaming Enforcement (DGE) yesterday published a new rule to set responsible gaming regulations in the New Jersey Register. The DGE will accept public comments on the new regulations until Friday, Nov. 14, and may amend the proposed regulations based on the input they receive. If not, the rules promulgation process will proceed and the proposed regulations will soon become mandatory for all licensed online gaming operators.The newly proposed regulations establish standards for online gaming companies and sports betting operators to identify at-risk patrons for problem gaming and sets forth mandatory phases of intervention to be undertaken by the companies.Ensuring Responsible Gaming ImportanceJamie McKelvey, Assistant Bureau Chief and Responsible Gaming at the NJ Division of Gaming Enforcement, revealed the regulations were published in the state registry for public comment today during iDEA Growth’s Power Lunch Summit on Player Protection.These proposed regulations, she said, set a new standard for licensed New Jersey online sports betting and online gaming operators. While the DGE has always maintained that each operator maintain a responsible gaming staff, there is no current standardization as to when customers require intervention.“By promulgating this rule, the Division intends to provide specific requirements regarding what constitutes problem gambling and to ensure that specific assistance is provided to those patrons who require or desire it. These measures are intended to help address the burgeoning need to support responsible gaming awareness and practices,” the rule reads.If the new rule is approved, each operator will have to maintain a responsible gaming lead to monitor customers and 12 points of play criteria. If a player triggers any of the criteria, they could potentially be added to the state’s at-risk patron list.Player Monitoring CriteriaPlayers will be monitored for the following criteria:A patron’s deposits exceed $10,000 over a 24-hour periodA patron’s deposits exceed $100,000 over a 90-day periodA patron accesses the self-exclusion request page, but does not complete the self-exclusion process three or more times in a 30-day periodA patron requests a second cool-off period within 45 days of the conclusion of the first cool-off periodA patron makes three consecutive increases to any responsible gaming limits offered by the operator without any decreases within a seven-day periodA patron cancels withdrawal requests prior to the processing of the withdrawal three times in a 10-day periodThe total turnover of a patron’s account exceeds $1,000,000 in a 90-day periodA patron’s time spent logged into the account increases by 50% or more, during the current week, compared to the prior two-week periodA patron ends two or more gambling/gaming sessions in the same week with a balance of less than $1 remaining in their accountA patron concludes two or more sessions in the same week with an increase in the total number of wagers from the previous sessionAny additional triggers identified by the operator to be potential indicators of problem gaming behaviorAny additional triggers identified by the Division through a Director’s Order and notice to the operatorsIf the operator identifies a patron who triggers any of these criteria, the state will require a due-diligence review of the customer for being potentially at-risk.Due Diligence for At-Risk CustomersAn operator’s due-diligence review will determine if a customer is at risk or not. If found to be at risk, operators will be required to undertake the following three phases of intervention.The first phase requires the patron to be contacted by the operator and provide them with information regarding the responsible gaming features offered by the operator.The second phase consists of the operator requiring the patron to view a video tutorial regarding responsible gaming and problem gaming to continue their gaming activity. The customer must view the video in its entirety before continuing their activity.The third and final phase requires the operator to reach the customer by phone or video to discuss their potential problem gaming behavior and to highlight all available responsible gaming options. The responsible gaming lead will provide the customer with contact information for a responsible gaming professional and may provide their own contact information to the customer as well, so they can contact the lead directly to receive further guidance.If a customer agrees to see a responsible gaming profession, the operator will incur the cost of counseling.If the operator cannot reach the customer after three attempts, the user’s account will be temporarily suspended until the responsible gaming lead is able to speak with them directly by phone. Also, customers still exhibiting signs of problem gaming after phase three intervention will have their accounts closed and the user will be referred to available problem gaming resources.If placed on the state’s at-risk list, operators must provide users with responsible gaming information, resources, and be exclude them from certain gaming marketing campaigns and promotions. Customers can be removed from the at-risk list if they fail to trigger any of the criteria for at-risk patrons for 180 days following their due diligence review and their present activity does not exhibit any potential problem gaming behavior.

Kalshi Faces Class Action LawsuitKalshi, a prominent prediction market platform, is facing a significant legal challenge in the form of a class action lawsuit. The suit, filed in the Southern District of New York, accuses the company of operating an unlicensed sports betting platform that deceives consumers into thinking they are participating in a peer-to-peer market, when, in reality, they are betting against Kalshi itself. The lawsuit, which includes seven named plaintiffs and thousands of potential class members, seeks to recover the money lost on the platform, with the possibility of tripling the damages if the plaintiffs prevail.Allegations of Deceptive Practices and Legal ViolationsThe lawsuit claims that Kalshi has violated gambling laws and engaged in deceptive practices that have led to financial losses for its users. According to the plaintiffs, Kalshi operates in a manner that closely resembles traditional sportsbooks, despite promoting itself as a platform for trading on the outcomes of sporting events. The platform allows users to “trade” on events such as NFL game outcomes and player performances, such as whether Jared Goff will throw for two or more touchdowns. However, the lawsuit argues that consumers are often unaware that they are essentially betting against Kalshi itself through its subsidiaries and hedge-fund partners like Susquehanna International Group.The plaintiffs argue in complaint that Kalshi’s claims of offering a peer-to-peer platform where users bet against one another are misleading. Instead, the lawsuit alleges that Kalshi, through its market-making activities, steps in as the house whenever a bettor’s wager strays from the platform’s internal projections. As a result, consumers unknowingly end up betting against Kalshi, rather than engaging in a fair market where all participants are equally involved.Kalshi’s Response and Regulatory PositionIn response to the class action lawsuit, Kalshi has denied the allegations, asserting that the platform operates under the rules of federally regulated “Designated Contract Markets” (DCMs), which are overseen by the Commodity Futures Trading Commission (CFTC). Kalshi maintains that it is not subject to state gaming laws because its platform deals with prediction markets, which are considered a different category than traditional sports betting. A Kalshi spokesperson dismissed the lawsuit as “meritless fiction,” claiming that anyone familiar with the platform’s operations would see the claims as unfounded.Kalshi’s legal battle is part of a broader wave of legal challenges facing prediction market platforms across the U.S. Companies like Robinhood and Crypto.com are also engaged in legal disputes related to sports betting regulations, with varying degrees of success. Kalshi’s recent legal setbacks include a ruling from a Nevada federal judge, who allowed the state’s gaming regulator to pursue action against the company for offering unlicensed sports betting. The platform has appealed this decision, but the legal pressure continues to mount.Expanding Prediction Markets and Regulatory ScrutinyDespite the ongoing legal battles, the prediction markets sector continues to gain momentum, with new players entering the market. Platforms like Polymarket, PrizePicks, Underdog, and Fanatics are all vying for a share of the sports betting market, often using regulatory loopholes to avoid the strict regulations faced by traditional sportsbooks. Even established companies like Coinbase are reportedly working on their own prediction-market platforms, in collaboration with Kalshi.The rise of these platforms has sparked concern among regulators, who fear the proliferation of unlicensed sports betting operations. Kalshi, in particular, has come under scrutiny for its marketing tactics, which allegedly target underage users and promote addictive gambling behaviors. In September, Kalshi launched a program called “KalshiU,” aimed at targeting college campuses and attracting younger users to its platform. The lawsuit points to these marketing efforts as evidence of Kalshi’s disregard for responsible gambling practices and legal requirements.Potential Impact on Kalshi and the Wider MarketAs Kalshi faces these legal challenges, the company’s future in the sports betting market is uncertain. The class action lawsuit and ongoing regulatory battles highlight the growing tension between innovative platforms like Kalshi and traditional sports betting laws. If the lawsuit succeeds, it could lead to significant financial repercussions for Kalshi, including the possibility of triple damages for the plaintiffs.Additionally, the lawsuit could set a precedent for other prediction-market platforms facing similar legal challenges. The outcome of this case could have far-reaching implications for the future of online sports betting in the U.S., as regulators and lawmakers work to catch up with the rapidly evolving landscape of digital gambling.