Light and Wonder CEO Matt Wilson said Kalshi and Polymarket now dwarf DraftKings and FanDuel by market cap — and called on the casino industry to fight back before prediction markets consume the discretionary gambling dollar.
DraftKings will shut down in-person betting at its Wrigley Field sportsbook on May 31 after two years of operation, citing Illinois tax increases as the primary driver behind the decision.
U.S. Senators Katie Britt and Richard Blumenthal have introduced bipartisan legislation that would create a federal ban on digital gambling advertisements targeted at people under 18.
FIFA has added Betano, the betting brand of Greece-based Kaizen Gaming, as a regional sponsor for the 2026 World Cup, marking the second betting industry deal for the tournament.
The Senate Commerce Subcommittee is holding its first formal hearing on prediction markets and sports betting on May 20, with competing legislation on the table that could reshape how platforms like Kalshi and Polymarket operate.
A Rhode Island Senate bill would allow four to six additional sports betting licenses starting in 2027, but experts say the state’s 51 percent tax rate would need to be cut dramatically before major operators consider entering.
The American Gaming Association and Indian Gaming Association are demanding Congress close what they call a loophole allowing prediction markets to operate nationwide as unregulated sportsbooks.
The CLARITY Act cleared the Senate Banking Committee on a 15-9 vote, but prediction market traders are pricing its passage into law at just 68 percent — and the bill’s treatment of sports event contracts remains the most contentious unresolved…
Pennsylvania gambling and gaming companies targeted for new taxes in 2025 are pouring $8.1 million into Republican primary races to preserve the legislative alliances that blocked those proposals.
Colorado lawmakers sent Senate Bill 131 to Gov. Jared Polis, creating the first state-level daily deposit cap on sports betting apps and banning push notifications that prompt bets — a first-in-the-nation framework that other states are watching closely.
UFC President Dana White sent a formal letter to President Trump calling for the reversal of a controversial gambling tax provision that could leave bettors owing taxes even when they lose.
Four New Mexico tribes filed suit against Kalshi on Tuesday, arguing the prediction market platform is conducting illegal sports betting on tribal lands and bypassing gaming compacts they spent decades securing.
