Flutter Entertainment has delisted from the London Stock Exchange, moving its primary listing to the US, a trend potentially followed by Evoke (formerly 888 Holdings) after its takeover by Bally's Intralot. This signals a broader movement of British betting firms seeking better valuations and opportunities in the US market, driven by a perceived 'UK stocks discount'.
A federal judge in Utah ruled that the state can apply its gambling laws to prediction market operator Kalshi, rejecting Kalshi's argument that its contracts are financial instruments. Kalshi plans to appeal this decision, which represents a setback for prediction markets in their efforts to be regulated outside of traditional gambling frameworks.
Data from analytics platform Blask reveals that illegal online casinos and sportsbooks in Russia are losing market share, with visitor numbers falling to their lowest since 2018. This shift indicates a growing preference for permit-holding bookmakers, who now control 60% of the market, as Russia considers legalizing web-based casinos.
Polymarket has secured an exclusive partnership with the ATP Tour, the governing body for men's tennis. This deal will enable Polymarket's US users to stream matches and engage in prediction market trading across the entire ATP calendar.
Macau's casino industry anticipates a revival following a post-World Cup slump, driven by a significant increase in tourist numbers. Macau International Airport reported nearly 3.9 million passengers in the first half of the year, signaling positive momentum for operators and ongoing expansion projects.
Community and business leaders in South Korea's North Jeolla Province are divided over Governor Lee Won-taek's proposal to build an integrated resort with a casino. The key point of contention is his intention to seek central government approval for the casino to admit domestic passport-holders, a departure from current regulations which typically restrict casino access to foreigners.
Plans for a new $700 million casino in Solano County, California, by the Scotts Valley Band of Pomo Indians are on hold following an unfavorable ruling from the Department of the Interior. This setback impacts a significant tribal gaming development in the state.
Thai authorities have shut down 4,576 World Cup-themed sports betting websites, which processed an estimated $591 million in wagers. This crackdown is part of a broader government effort against illegal gambling, with future focus expanding beyond soccer to other sports.
Former MLS MVP Luciano Acosta is under investigation for potential spot-fixing in a Brazilian football match after unusual betting patterns were observed on him receiving a yellow card. Betting operator Stake reported the suspicious activity to Sportradar, highlighting increasing concerns over integrity in sports betting.
Betfred is set to cut 600 jobs and close 132 shops across the UK, citing increased gambling taxes and rising operational costs. This move follows similar job cuts by Entain earlier in the year, indicating a broader trend of cost-cutting within the UK gambling industry due to financial pressures.
The Japanese government is considering implementing geoblocking measures against online casino platforms, following a report from a panel of experts. This move could significantly impact the accessibility of online gambling within Japan, despite potential criticism.
New York State has filed a $36 billion lawsuit against Kalshi, a prediction market platform, alleging illegal gambling operations. The Commodity Futures Trading Commission (CFTC) has intervened, filing a motion for a temporary restraining order to protect Kalshi and prevent New York's enforcement, highlighting a significant clash over regulatory jurisdiction in the prediction market space.
Russian President Vladimir Putin has signed new regulations requiring gambling companies to block self-excluded individuals from placing bets. The new legislation, which includes fines for non-compliance, was passed by both the State Duma and Federation Council.
MGM Resorts International announced record consolidated revenues of $4.5 billion for Q2, driven by strong performance in Las Vegas and a significant surge in its Macao business. This marks a 1% year-on-year increase in quarterly consolidated revenues, with Las Vegas Strip revenues up nearly 5%.
Prediction markets, including Kalshi, faced significant legal defeats in New York and Wisconsin as courts sided against the CFTC and blocked attempts to operate as legal exchanges. These rulings reinforce that their offerings are considered illegal gambling under state laws, hindering their expansion in the US.
DraftKings is facing a lawsuit in Massachusetts, filed by a California resident, alleging that its new 'Predictions' feature constitutes illegal gambling. The suit claims these sports prediction markets are a thinly veiled form of sports betting, aiming to circumvent state gambling laws.
BetMGM reported stagnant sports betting growth and a 3% drop in active monthly users for Q2, leading to an expected delay in reaching its $500 million Adjusted EBITDA target. The company attributed some of these challenges to the impact of prediction markets.
The NBA has joined the NFL in opposing the Commodity Futures Trading Commission's (CFTC) recent rule-making regarding prediction markets. This marks a significant stance from major sports leagues on the regulation of financial products that could influence sports betting and related markets.
Despite a Minnesota judge blocking the state from enforcing new laws against prediction markets, a gaming lawyer suggests enforcement action against sports event contracts on platforms like Kalshi and Polymarket is still possible. The ruling's interpretation regarding the Commodity Exchange Act's preemption over state gambling laws for sports-related prediction markets remains a point of contention and potential legal action.
Former iGaming lobbyist Laila Mintas, through her new venture 365Prediction, is entering the prediction market sector. She argues that the US gambling industry initially built on a flawed foundation and sees significant potential in the event contract market.
The ongoing legal dispute between prediction markets, the CFTC, and various states highlights a critical debate over whether sports-related prediction market contracts should be classified as gambling. Lawyers are advising prediction markets to proactively engage with regulators to avoid further legal challenges and navigate this complex regulatory landscape.
Birmingham City, co-owned by Tom Brady, has signed Coral as its new shirt sponsor. This deal highlights how Championship clubs are benefiting from the recent ban on gambling sponsors on the front of shirts for English Premier League teams, shifting sponsorship opportunities to lower leagues.
Sweepstakes casino operator VGW is shutting down its LuckyLand Slots platform in September. However, its other brands, Chumba Casino, LuckyLand Casino, and Global Poker, will continue to operate.
A Minnesota judge has ruled in favor of prediction markets, preventing the state from banning most event contracts. This decision comes despite former Senator Chris Dodd indicating that the rule cited should prohibit sports-event contracts, suggesting a legal conflict regarding legislative intent.
The National Football League has expressed dissatisfaction with the Commodity Futures Trading Commission's proposed rules for prediction markets, urging the CFTC to ban certain sports-related contracts and implement stricter insider trading rules and user protection protocols. The NFL's stance highlights ongoing concerns about the integrity of sports and consumer welfare within these emerging markets.