I’ll be speaking at Next Summit New York next month. I bet we’ll talk about prediction markets! Get your tickets here, and use code TCL0L10FU3V for a 10% discount.

  • Utah Gov. Spencer Cox says sports betting on Kalshi is ‘destroying lives.’ The data is on his side (Salt Lake Tribune): “If it looks like a duck and quacks like a duck … you can bet it’s a duck. That’s what many are saying about “sports-based event contracts” hosted by prediction markets — the loophole that currently allows legal sports gambling in Utah. It’s not “sports betting” in name, but it is in practice. Right now, Utahns can go online on Polymarket or Kalshi and place bets on whether they believe a certain team will win tonight’s college basketball games, beat the ‘spread’ on those games, or guess whether the total score will finish over or under a certain number. Sports betting in Utah is illegal, but putting money on these predictions is currently allowed because federal law allows prediction markets in the United States.”

    • Opinion: Utah’s attorney general takes a stand against gambling and prediction markets (Deseret News): “It was illegal in Utah to bet — in any manner — on whether the Seahawks will win the Super Bowl. But some apps claimed it was perfectly legal to ‘trade’ on a financial contract tied to a future outcome in which the Seahawks would win the Super Bowl. This scenario is not hypothetical. On the morning of the Super Bowl, my college-aged son, here in Utah, received a targeted ad that read, ‘You can legally make money from football in all 50 states on Kalshi.’ And then, with what felt like a carefully crafted wink, it added that in Utah, “you can legally trade on football outcomes.’ … I was recently asked whether I plan to do anything about the rapid rise of prediction market apps that are now operating in Utah. My response? You can bet on it.

    • And now Sen. John Curtis is getting in on the act:

    • 📚 Reading the line: It took a year, but it seems like Utah officials are now fully aware of the fact that sports betting is going on in their state. Many of the legal and political battles around prediction markets have involved states that already legalized sports betting. I have maintained it’s just as much of an issue for states — like Utah — that have never legalized any form of gambling, or at least haven’t allowed it to move online.

      • Will state and federal officials in Utah making a stink about prediction markets move the needle? Well, it wasn’t a variable that was in play until last week. We can squint and see the possibility of a coalition of motivated Democrats who have spoken out about prediction markets and Republicans that don’t love a massive expansion of sports betting at the federal level. The odds of anything reining in prediction markets outside of the courts still seem long, but the amount of noise on Capitol Hill has ratcheted up.

    • Before we move on to non-prediction markets news, my latest roundup and podcast:

      Episode 11: The CFTC Is All-In On Prediction Markets

      This newsletter and podcast was sent to 2,723 subscribers who want to keep up on the world of prediction markets…

      11 hours ago · 5 likes · Dustin Gouker

    • NCAA Requests That Kalshi Remove ‘March Madness’ Mentions (Gambling Harm): “The annual March Madness NCAA basketball tournament is a top betting event. But you’re not supposed to see it named on prediction markets like Kalshi. The NCAA hasn’t given Kalshi permission to use its federally registered trademark ‘March Madness.’ Kalshi can use something generic like ‘basketball tournament’ instead. In some instances, Kalshi uses the phrase ‘March Madness’ on its platform despite trademark restrictions.”

      • “The NCAA has previously addressed issues with Kalshi illegitimately using NCAA marks for their offerings,” the NCAA said in a statement to GamblingHarm.org on Friday. “This continues to be a misrepresentation of any NCAA involvement, and we have requested immediate removal of NCAA trademarks.”

      • (It looks like all of these references are now gone.)

Ifrah Law has been at the center of advancing iGaming in the U.S., shaping groundbreaking legislation, leading precedent-setting cases, and guiding clients that span the iGaming ecosystem through every phase of their business journey. Learn more at IfrahLaw.com.

  • Penn Agrees To Add 3 More Directors Backed By HG Vora In Settlement (Legal Sports Report): “Penn Entertainment settled its lawsuit with activist investor HG Vora and agreed to appoint three new directors to its board as part of a deal that includes mutual non-disparagement terms. The two sides signed a joint stipulation of dismissal with prejudice Monday morning, ending litigation filed last May after Penn opted to add only two board members instead of HG Vora’s desired three. Heather Ace, Jeffrey Fox and Fabio Schiavolin were announced as new directors effective immediately, alongside a corresponding 8-K detailing the settlement terms.”

  • Legislative roundup: Sweepstakes casino heat builds as bans advance in three states (iGB): “Indiana will likely become the seventh state to ban sweepstakes casinos as a prohibition bill passed through a conference committee Monday. Now, both chambers of the Legislature must pass the bill, HB 1052, which would then head to Governor Mike Braun for approval. Indiana’s advancement comes as multiple state legislatures moved on sweepstakes casino ban legislation last week, including Mississippi and Maine.”

    • Washington Lawmakers Evaluating Online Sports Betting, Collegiate Sports Betting Expansion (Sports Betting Dime): “Washington lawmakers are considering a bill to expand the available collegiate sports betting markets in the state, while also allowing an expansion of online sports betting while on tribal lands. As it currently stands, Washington only allows in-person and online sports betting for customers as long as they are located on tribal lands. SB 6137, if signed into law, will allow Washington sports bettors to place online sports bets while on tribal lands for all partnered platforms, not just the platform partnered with the specific tribe where the customer is located. Additionally, the legislation will do away with a prohibition on sports bets on in-state college teams, but will still disallow bets on in-state college player props.”

    • NY bill would require monthly profit/loss statements for bettors (Next.io): “A proposal moving through the New York State Assembly would require mobile sports betting operators to send customers a monthly ‘invoice’ detailing their account activity. Assembly Bill 10329 was introduced on 24 February by Assemblymember Anna Kassay and referred to the Committee on Racing and Wagering. The bill is brief, however it could have substantial implications. If enacted, it would mark a notable change in how the state monitors its multibillion-dollar mobile wagering market. Instead of relying solely on regulator-facing reporting, the measure would require disclosures to flow directly to bettors themselves.”

    • More from Straight to the Point on legislative activity:

      An Online Casino Turning Point

      The Bulletin Board…

      Read more

      9 hours ago · 10 likes · Steve Ruddock

  • Sports betting drives jump in calls to Florida problem gambling helpline (Tampa Bay Tribune): “Calls about online wagering have more than doubled to Florida’s problem gambling helpline since the legalization of sports betting in Florida in 2023. The Florida Council on Compulsive Gambling oversees the state’s around-the-clock helpline, 888-ADMIT-IT. Last year, more than 2,400 Floridians sought help from the organization. Of those, 1,400 were calling for help with online gambling, making it the No. 1 reason for calls.”

  • FanDuel Poker Could Actually be Happening (PokerFuse): “It’s been nine months since the speculation of FanDuel Poker — the idea that the leading US sportsbook would merge with the iconic international online poker brand PokerStars — first swirled. The evidence presented is threefold. One, new subdomains on FanDuel.com suggest that there is testing of a poker client in New Jersey, Michigan and Pennsylvania under combined PokerStars-FanDuel branding. Two, new job posts for poker roles at FanDuel have been spotted. And three, a long-time product manager at PokerStars made a move to FanDuel, also apparently into a poker role.”

  • USA-Canada Hockey Finale Draws Significant Action, Differing Liabilities (Covers): “The U.S. men’s hockey team’s first Olympic gold medal since the 1980 ‘Miracle on Ice’ had a significant impact on North American sports betting operators. The 2-1 overtime thriller over Canada in Sunday’s early-morning, dramatic finale was a huge hit with bettors.”

    • “Despite the early start time for our customers, the Men’s Gold Medal game generated tremendous betting activity – ranking among the most-bet hockey games in DraftKings Sportsbook history,” Johnny Avello, the director of DraftKings Sportsbook, told Covers on Monday. “As expected, Team USA drew strong support from our American customers, while Canada saw significant backing from customers in Ontario.”

FanDuel’s Trusted Voices: Conversations About Betting is designed to equip adults with tools and resources to talk to young people about gambling.

This resource is a guide for parents and adult mentors, featuring details on today’s gambling landscape and guidance on how you can help. It includes information on different types of gambling activity, how adults can educate young people on the risks, and a list of resources.

  • Dabble Continues to Expand U.S. Footprint with Launch in Colorado (press release): Dabble announced today that its platform has officially entered and is now live in the state of Colorado. The launch further expands Dabble’s regulated U.S. market presence, making its Daily Fantasy Sports (DFS) offering available to users in one of the nation’s most established and sports-driven gaming markets. Coming on the heels of their recent launch in Arizona, Dabble continues to expand their reach in the U.S. market.

    • With more than 3.4 million Dabblers and over $300 million paid out, Dabble’s community-driven DFS gaming experience continues to gain momentum across the United States. The app has seen nearly 9 million installs and more than 102 million entries placed to date. Dabble’s social-first design remains a key differentiator, with 13.6 million messages sent across the platform, 78% of players following at least one other user, and 42% of all picks made by players copying or tailing picks from the community. …

    • With the addition of Colorado, Dabble is now available in 31 U.S. states. …

    • “Colorado is a natural fit for Dabble,” said Tom Rundle, CEO of Dabble. “It’s a state with passionate sports fans, an engaged gaming audience, and a culture that values community. We’re excited to welcome Colorado players into the Dabble ecosystem and continue growing together.”

  • Canadian Lotteries Say Supreme Court Should Reject Ontario’s DFS, Poker Proposal (Covers): “Ontario’s proposal to let Torontonians play online poker or paid DFS contests with Texans and other rivals abroad could be a slippery legal slope and should be rejected, a coalition of government-owned lottery corporations says.“

    • “While the issue today is international liquidity, the next case may involve a province seeking to assert authority to conduct lottery schemes that extend across the country,” the Canadian Lottery Coalition (CLC) said in a factum filed Feb. 13 to the Supreme Court of Canada. “And indeed, even if that is not what Ontario proposes de jure at this time, it is what it proposes de facto given the ubiquity of illegal gambling using International Sites among Canadians outside Ontario.”

  • British government mulls sponsorship ban on unlicensed gambling companies (Associated Press): “Gambling companies who do not have a license in the United Kingdom might be banned from sponsoring teams in soccer’s Premier League and other sports in Britain, the government said Monday. The British government has set out plans to discuss a potential ban in the coming months, saying it’s an attempt to “mitigate the risks associated with the illegal market and help eliminate unfair competition for properly regulated firms.”

  • Mexico considers legislation to curb gambling ads ahead of World Cup (Next.io): “Mexican Federal Deputy Jerico Abramo Masso has introduced legislation that would curb gambling advertising on television during what lawmakers describe as family viewing hours. The proposal is aimed primarily at casino and sports betting promotions aired during televised sporting events, whether on free-to-air broadcasts or subscription channels. Masso said betting and online casino adverts now appear heavily throughout live matches.”

  • Kambi enters 27th US state with North Dakota tribal sports betting (SBC Americas): “Kambi has entered its 27th U.S. state through a new tribal gaming deal in North Dakota. The sports betting technology provider has signed a multi-year agreement with the Mandan, Hidatsa and Arikara Nation (MHA Nation) to provide on-property sports betting at the tribe’s flagship gaming destination 4 Bears Casino and Lodge.”

  • Missouri House passes VLTs bill as state looks for gaming machine clarity (SBC Americas): “Missouri legislators are looking to clarify the legal status of gaming machines installed in retail stores and hospitality venues. The Show-Me State House passed a bill last week that would legalize video lottery terminals (VLTs) under the oversight of the state lottery, after a federal court judge ruled that unregulated machines currently available in many locations are illegal.”

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