Legal US sports betting industry news and views via @bymatthewwaters, @sam_mcquill, and @eric_ramsey
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Legal Sports Report retweeted
Thought we left the sports betting ad blitz in 2020?
Prediction markets have this NFL season feeling like déjà vu all over again. Only this time, Sydney Sweeney is straddling event contracts and Ari Gold is yelling about social casinos.
legalsportsreport.com/276604…
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Legal Sports Report retweeted
Saturday was the most-bet day in Kalshi history, with a record $2.3B in notional trading volume. Nearly 60% came from parlays.
Just 7 days in, September 2026 already ranks Top 7 all-time in monthly volume, per @TickerTracker_.
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Fanatics' responsible gaming head compared prediction markets to offshore sportsbooks for lacking safeguards, as company acquires its own prediction market infrastructure.
Story from: @sam_mcquill
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Federal judge ruled New York gambling laws apply to Kalshi's sports contracts despite CFTC registration. Kalshi appealed as jurisdictional battles escalate toward Supreme Court.
Story from: @patevans
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California tribal leaders confirmed 2028 target for sports betting ballot initiative. Polling shows 60% of Californians now believe online sports betting is already legal, up from 20% previously.
Story from: @sam_mcquill
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IG Group acquiring Underdog for $1.3B (including $200M earnout). Positions fintech as third-largest U.S. prediction markets operator behind Kalshi and Robinhood.
Story @ByMatthewWaters
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Rush Street Interactive raised guidance to $255M adjusted EBITDA on $1.58B revenue. World Cup delivered record results. Alberta launch exceeds Ontario metrics on population-adjusted basis.
Story @ByMatthewWaters
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Federal judge blocked Minnesota's prediction market ban, finding state law likely preempted by federal CFTC authority. First major judicial setback for state outright ban. Case continues while law remains blocked.
Story from: @patevans
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NCLGS unanimously approved resolution calling on Congress to declare prediction markets illegal gambling, leaving regulation to states and tribal governments.
Story @ByMatthewWaters
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Kalshi agreed to block sports, election and entertainment contracts in Nevada by August 12 via third-party geofencing. Non-compliance carries $120,000 per day fine. Follows court orders since March.
Story from: @patevans
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Legal Sports Report retweeted
LeBron James' decision sent prediction markets into a frenzy Friday, raising questions about whether they can reliably stay ahead of traditional news media in the absence of insider trading.
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From massive trading volume to growing Wall Street interest, here's how prediction markets became part of the World Cup conversation.
Watch @sam_mcquill's recap ⬇️
Full article here: legalsportsreport.com/270180…
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Legal Sports Report retweeted
At this time yesterday the 76ers were 9% to land LeBron on Kalshi and Polymarket.
1000% ROI.
BREAKING: LeBron James is signing with the Philadelphia 76ers on a two-year, $8 million deal with a player option, Klutch Sports Group and Klutch CEO and Game Over show host Rich Paul tells ESPN.
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Wisconsin Elections Commission warned voters cannot legally bet on election prediction markets and vote in that same election. Violating 1849 law is a Class I felony. Kalshi called the guidance voter suppression.
Story from: @patevans
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Kambi stock rose 7.9% as company raised EBITA forecast on World Cup success. Generated €1B+ handle with 18% margin. Live Bet Builders grew to 22% of live betting from 3% in 2022.
Story @ByMatthewWaters
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Siena Poll: 39% of New Yorkers believe online sports betting is bad for the state. BYU study shows households cut net brokerage investments by 20% since legalization in May 2018.
Story from: @patevans
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House Agriculture subcommittee held hearing on prediction markets. Chairman Rep. Dusty Johnson said Congress has obligation to provide regulatory clarity. More hearings expected.
Story @ByMatthewWaters
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Prediction markets hit record $12.3B taker volume in June during World Cup, nearly matching regulated sportsbook handle. Polymarket and Kalshi outpriced traditional operators on pricing metrics.
Story from: @sam_mcquill
Read here: bit.ly/44CnhPp
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NFL suspended Arizona Cardinals Director of College Scouting Ryan Gold indefinitely for allegedly placing NFL and college football bets and providing non-public draft information.
Story from: @patevans
Read here: bit.ly/4bFhGeX
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Georgia Rep. Al Williams elected president of the National Council of Legislators from Gaming States, replacing West Virginia Del. Shaun Fluharty after serving as president-elect since 2023.
Story @ByMatthewWaters
Read here: bit.ly/3TcqdzM
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