Do predictions markets pose an existential threat to traditional regulated gaming? Given the reaction of lawmakers from states that depend heavily on revenue from regulated gaming to the proposed appointment of Brian Quintenz to oversee the federal Commodity Futures Trading Commission (CFTC), the answer would be "yes". Earlier this week, Nevada Representative Diane Titus formally…
Former NBA star Gilbert Arenas was arrested this week and charged by federal authorities for his alleged connection to high stakes, and illegal, poker games held at his Los Angeles home. Arenas was hit with three charges including one count of conspiracy to operate an illegal gambling business, one count of operating an illegal gambling…
Predictions are an essential component of the world of gaming and BetMGM CEO Adam Greenblatt was more than happy to share his predictions for the industry's future during a recent earnings call with investors. Greenblatt opined on subjects ranging from the recently increased tax on gambling earnings to the impact of sweepstakes sites and his…
DraftKings' road to towards clearing out the massive legal fallout of its short-lived venture in the world of non-fungible tokens (NFTs) hit a major snag this week when a GOP politician hit the brakes on a potential $10 million settlement with the state. Earlier this week state Republican National Committeeman Brad Wyatt filed a formal…
For the past 50 years, casinos across the United States have had to indulge in a costly ritual whenever a player hit a slot jackpot over $1200. That ritual involved shutting down the winning machine while casino staff filled out paperwork for the Internal Revenue Service (IRS). It's a costly effort that, thanks to the…
A Nevada senator's efforts to roll back the gambling tax addendum in the recently passed One Big Beautiful Bill (OBBB) have hit a roadblock. Late last week, Nevada Sen. Catherine Cortez Masto introduced the Facilitating Unbiased Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act, which would restore the opportunity for gamblers to…
When Congress passed Donald Trump’s One Big Beautiful Bill into law on the 4th of July, GOP lawmakers celebrated its tax breaks for billionaires and deep cuts to America’s social safety net. But almost none of them celebrated the bill’s ten percent increase on gambling winnings. That may be because few, if any, of them…
Hidden in the recesses of the One Big, Beautiful Bill that was recently passed by Congress is a major change to how gambling winnings are taxed. It’s a change that makes breaking even a loser’s prospect that has won praise from the American Gaming Association and downright ire from Nevada’s Congressional delegation. Under the new…
Construction workers broke ground this week on the Las Vegas Strip's newest big thing, a stadium for the incoming Las Vegas A's baseball team. The stadium, which will at some point almost certainly add a corporate sponsor to its name, is set for completion by the start of the 2028 baseball season and will hold…
As regulated gaming, especially sports betting, continues to grow in the United States more and more lawmakers are looking at ways to wring more tax dollars out of their newly minted cash cows. The latest entry into that category is the State of Wyoming where lawmakers are considering tax increases on sports betting, games of…
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