The battle between regulated sportsbooks and event predictions markets continues to rage this week as New Jersey Attorney General Matt Platkin provided a judge with his opinion on the matter. Platkin did not hold back in his arguments suggesting that sports contracts are very much subject to state law and are clearly doing an end…
Event prediction markets are disrupting sports betting markets and gaming industry trade groups are not very happy with the situation. Public comments from the Nevada Resort Association (NRA) and Casino Association of New Jersey (CANJ) that were submitted to the Commodity Futures Trading Commission (CFTC) ahead of an April 30 roundtable discussion on the subject…
Strategic partnerships that open the door to exclusive products and services are the lifeblood of the modern gaming industry. Operators that successfully manage these kinds of partnerships are the ones who are able to distinguish their products in a very crowded market. This week Caesars Entertainment and AGS, the maker of a wide range of…
An ESPN commentators off-hand remark about "risk-free" investments back in March of 2024 is still ringing in the ears of ESPN Bet executives, and Massachusetts gaming regulators. Late last week Penn Entertainment compliance officers got a grilling from the Massachusetts Gaming Commission (MGC) about the overlap between ESPN's on-air content and its responsibility to follow…
Will the current debate over prediction markets and their place as unlicensed sportsbooks end up with a Federal entry into the US gaming market? That's a prediction that MGM Resorts International CEO and president William J. Hornbuckle IV made at the the East Coast Gaming Congress in Atlantic City last week. Hornbuckle was one of…
Yet another US State is taking a closer look at event prediction operators and whether or not they are operating as unlicensed sportsbooks. Earlier this week the Michigan Gaming Control Board (MGCB) announced that it is investigating event prediction operators such as Kalshi and Robinhood to make a final determination on their place in the…
The State of Hawaii moved to closer to its first form of legal gambling late last week when its Senate approved HB1308. Under the terms of the bill, the Aloha State would offer legalized online sports betting and daily fantasy sports (DFS). If passed into law, HB1308 would provide a framework for at least four…
In a world where the lines between licensed sportsbooks, daily fantasy sports operators and prediction markets are extremely blurred, the Atlanta Braves are giving DFS an endorsement by renewing their partnership with PrizePicks. The multi-year renewal extends PrizePick's current status as the official DFS partner of the high-profile MLB franchise, which was originally signed back…
Events contract operator Kalshi clocked a big win against the Nevada Gaming Control Board (NGCB) late last week when a Nevada court ruled the NGCB does not have regulatory authority over predictions markets. In his ruling on the matter, Chief Judge Andrew Gordon said that Kalshi's operations are governed by the Commodities Futures Trade Commission,…
Tribal gaming interests have proven to be an important element in the expansion of regulated sports betting in the United States. With their established gaming ecosystems, and tremendous political clout, name-brand sportsbooks have long recognized how Indian casinos are a fast-track to establishing a toehold in new markets. The significance of those relationships was front…
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