South Korean regulators have banned Polymarket, a prediction market platform, deeming it a violation of national gambling laws. Industry experts suggest this decision by the Korea Communications Standards Commission could effectively end the domestic prediction market sector in the country.
Bally's is reportedly in discussions to sell its $1.1 billion development project adjacent to the Las Vegas Athletics' stadium. This move is aimed at addressing the company's substantial $4.5 billion debt, as Bally's seeks to shed assets to improve its financial position.
Former President Donald Trump is scheduled to meet with executives from prediction market and crypto companies, including Polymarket, Kalshi, Coinbase, and Robinhood, alongside the chairs of the CFTC and SEC. This high-level meeting indicates potential future discussions or regulatory developments concerning these industries, which have significant implications for the iGaming and betting sector due to their overlap with financial and political betting markets.
Professional investors are showing increasing confidence in casino stocks, driven by the booming sports betting and casino sectors. The US legal sports betting market recorded a record $167 billion handle in FY 2025, with gross revenue up 23% year-on-year, attracting significant investor attention.
Caesars Entertainment is reportedly nearing an $18 billion acquisition by Fertitta Entertainment, concluding a lengthy bidding war that began in January. Recent filings by Caesars reveal the detailed competition for the casino giant, primarily against billionaire Carl Icahn.
Macao's casino tax revenues increased by over 9% year-on-year in the first half of 2026, reaching $7.2 billion and comprising 84.6% of the region's total tax income. This rise occurs as the Macao government continues its efforts to diversify the economy away from heavy reliance on the gambling industry.
Gambling companies reportedly wasted millions on advertising during the record-breaking 2026 World Cup, with a significant portion of ad spend directed towards bots and existing users rather than new acquisitions. The tournament generated over $50 billion in global wagers, with DraftKings alone seeing a 650% increase in betting volume compared to the previous World Cup.
This article explores the growing tension between sports leagues' commercial partnerships with gambling companies and their strict bans on player betting, highlighted by recent betting scandals across various sports. It questions the consistency of leagues profiting from sports betting while punishing players for related activities, suggesting a need for a re-evaluation of current policies.
JPMorgan Chase reportedly terminated its banking services with prediction market Polymarket in October 2025, citing regulatory concerns as the primary reason. This move highlights the cautious approach major financial institutions take when dealing with entities in complex or uncertain regulatory landscapes, which is relevant to the broader iGaming sector.
A Washington state judge has ordered Kalshi, a platform for event contract trading, to block access for users to a wide range of markets, including sports, by August 19. This ruling comes amidst the CFTC's opposition to such state court orders and a separate lawsuit against the company in Baltimore. The implications for Kalshi's operations and the regulatory landscape for prediction markets are significant.
Pennsylvania is exploring the regulation of prediction markets through House Bill 2711, introduced by Rep. Tarik Khan, rather than imposing an outright ban. This legislative effort could establish a legal framework similar to those for DFS and sports betting, according to attorney Doug Mishkin. If passed, it would create a new, regulated gambling vertical in the state.
Fliff, a prominent sweepstakes sports platform, has applied to become a Futures Commission Merchant (FCM) to transition into the prediction market sector. This strategic move signals a broader trend among sweepstakes operators pivoting from their current models towards event contracts. If approved, Fliff could partner with a Designated Contract Market (DCM) to offer new betting products.
Derek Stevens, owner of Circa Sports, strongly criticized prediction markets like Kalshi and Polymarket, labeling them as 'pirates' and 'thieves.' His comments highlight ongoing tensions and legal battles between traditional sports betting operators and the emerging prediction market sector. This reflects growing industry friction and debate over the legality and nature of these platforms.
Two prominent sweepstakes casinos, The Money Factory and CoinFrenzy, have ceased operations amidst escalating regulatory scrutiny in the U.S. Their closure follows a trend of dozens of similar platforms shutting down over the past year due to new state laws prohibiting unregulated sweepstakes models, signaling a tightening regulatory environment for this sector.
Catena Media reported a 1% decline in Q2 revenue and an 11% drop in adjusted EBITDA, leading to further layoffs. The company is undergoing a strategic pivot, moving away from its traditional SEO-based affiliate business model. This restructuring follows ongoing financial challenges.
A Connecticut judge rejected Kalshi's motion for a preliminary injunction, ruling its sports markets are not 'swaps' under the Commodity Exchange Act and likening their parlay-style offerings to casino gaming. This decision prevents Kalshi from operating its sports-event contracts in Connecticut and has significant implications for how event betting platforms are classified and regulated across the US.
South Korean casino operators are lobbying the government to abandon its proposed five-year renewable permit system and increased contributions to a tourism fund. The new regulations, unveiled last month, have already negatively impacted casino share prices and financial forecasts.
Novig, a prediction market platform, has filed lawsuits against four US states (New York, Massachusetts, Washington, and New Mexico) shortly after its nationwide launch. This aggressive legal strategy aims to preemptively address potential regulatory challenges and ensure an uninterrupted market entry for its CFTC-regulated platform.
California cardrooms are criticizing the state's arrangements with tribal casino operators, alleging that tribal casinos receive unfair gaming exclusivity without adequate revenue sharing. The cardrooms argue they face a higher tax burden compared to tribes, sparking a renewed debate over gambling regulations and economic fairness in the state. This conflict has significant implications for California's complex gaming landscape.
Scott Brannon was sentenced to one year of probation, including six months home confinement, for operating an illegal gambling business in Costa Rica. He also agreed to forfeit $25 million in connection with the case.
Genius Sports reported a substantial 65% increase in Q2 revenue, reaching $195 million, with 60% attributed to its betting technology segment. A significant portion of this growth is allegedly derived from microbetting commissions, a claim currently under legal scrutiny.
Major iGaming operators Flutter, DraftKings, and PENN all reported Q2 losses, sparking questions about the profitability of legal gambling in the US. This trend aligns with observations from author Danny Funt, who noted many operators are struggling to turn a profit despite the expansion of legal betting.
Indonesian officials report that citizens placed $57 million in illegal bets during the World Cup, despite a national crackdown on gambling. The Financial Transaction Reports and Analysis Center (PPATK) stated that online gambling networks capitalized on the tournament's popularity to facilitate this illegal activity.
CFTC Chairman Michael Selig expressed concerns that state-level regulation of prediction markets could undermine the integrity of federal markets. He made these comments during the Flyover Fintech conference, highlighting potential conflicts with federal oversight.
Novig, a sports trading platform, has launched nationwide and simultaneously filed a lawsuit against New York state. This action is a pre-emptive measure as New York has been aggressively targeting other prediction market operators, aiming to establish clarity for its services.