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    Prediction markets hit $1.4 billion in midterms trading as forecasting credibility faces test

    Prediction markets hit $1.4 billion in midterms trading as forecasting credibility faces test

    Trading volume on prediction markets tied to the 2026 US midterm elections has surpassed $1.4 billion, according to an analysis by CNN. The milestone reflects expanding adoption of political betting contracts amid persistent skepticism surrounding traditional opinion polling. The performance of these platforms in predicting race outcomes will serve as a critical test of their long-term credibility as forecasting tools.

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    BreakingRegulatory

    Brazil’s 85 betting licenses expire without refund before Congress and STF act

    Brazil’s 85 betting licenses expire without refund before Congress and STF act

    A total of 85 federal fixed-odds betting authorizations held by 82 operators have expired in Brazil following the conclusion of a 30-day statutory period. Nearly 190 commercial brands have lost their market access without reimbursement for their R$30 million ($6 million) licensing fees or deposits. The expirations took effect before the National Congress or the Federal Supreme Court acted on the matter.

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    Regulatory

    CFTC warns Novig and ProphetX against listing scorigami, sports micro contracts

    CFTC warns Novig and ProphetX against listing scorigami, sports micro contracts

    The Commodity Futures Trading Commission has instructed prediction platforms Novig and ProphetX not to list certain self-certified sports event contracts, including scorigami and micro-betting markets. The regulator expressed concern that short-term micro contracts, such as which player scores first in a basketball game, are vulnerable to manipulation. The agency has asked Novig to explain how it intends to ensure market integrity and prevent manipulative activity across these markets.

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    M&A / Business

    Evoke revenue drops 7% amid UK gambling tax pressures

    Evoke revenue drops 7% amid UK gambling tax pressures

    Evoke reported a 7% year-on-year decline in third-quarter revenue to £406 million ($542.67 million), impacted in part by the closure of approximately 270 retail betting shops over the past year. Following the results, the parent company of William Hill and 888 called on the UK government to refrain from introducing additional gambling tax increases in the upcoming autumn budget.

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    Regulatory

    The Economist says Brazil’s gambling crackdown has failed to address industry concerns

    The Economist says Brazil’s gambling crackdown has failed to address industry concerns

    According to an analysis by The Economist, Brazil's regulatory crackdown on its rapidly expanding gambling sector has failed to resolve key issues surrounding household debt, problem gambling, and organized crime. The publication argues that the government's regulatory framework and recent restrictions on online gambling have struggled to effectively mitigate the market's associated risks. Consequently, broader socio-economic concerns regarding the country's betting industry remain largely unaddressed.

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    Regulatory

    Polymarket sues Ohio over sports betting restrictions, seeks injunction against enforcement

    Polymarket sues Ohio over sports betting restrictions, seeks injunction against enforcement

    Polymarket has filed a federal lawsuit against Ohio to challenge the state's sports betting regulations and secure an injunction against enforcement. The operator argues that Ohio's licensing mandates unlawfully restrict interstate commerce and clash with the Commodity Exchange Act. The filing follows a recent Sixth Circuit federal appeals court decision concerning competitor Kalshi's sports event contracts.

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    Regulatory

    US senator Ted Cruz to file bill seeking state control over sports prediction markets

    US senator Ted Cruz to file bill seeking state control over sports prediction markets

    US Senator Ted Cruz is preparing legislation that would grant state and tribal governments regulatory authority over sports-related contracts offered by prediction markets. The proposed measure would bar operators from offering contracts tied to gambling activities without approval from relevant jurisdictions. Cruz intends to formally introduce the bill following the November midterm elections.

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    Regulatory

    New Jersey introduces mandatory player monitoring and intervention rules for online gambling

    New Jersey introduces mandatory player monitoring and intervention rules for online gambling

    New Jersey has introduced mandatory behavioral monitoring regulations for online casinos and sportsbooks, becoming the first US state to mandate data-driven problem gambling interventions. Announced by Attorney General Jennifer Davenport, the framework establishes a three-stage intervention process for patrons showing signs of at-risk play. The rules expand monitoring obligations for all licensed digital operators in the state.

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    Regulatory

    Chile: Senate president proposes up to 15 years in prison for illegal gambling operators

    Chile: Senate president proposes up to 15 years in prison for illegal gambling operators

    Chilean Senate President Paulina Núñez has introduced a substitute amendment to the country's pending online gambling bill that would establish prison sentences of up to 15 years for operators and promoters of unlicensed betting platforms. The measure represents a significant shift toward stricter penalties, aiming to curb the expansion of the illegal market and enhance protections against unauthorized gambling activity.

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    Regulatory

    Finland grants new operator licence ahead of gambling market opening next year

    Finland grants new operator licence ahead of gambling market opening next year

    Finnish operator Hippos ATG Oy has secured a licence to offer horse racing betting, sports betting, and online casino games ahead of Finland's regulated gambling market opening. The company is a joint venture between Sweden's AB Trav och Galopp (ATG) and Finland’s national trotting organisation, Suomen Hippos. The licence grant marks a major operational milestone as the jurisdiction prepares to transition to a competitive licensing model.

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    Regulatory

    Curaçao Gaming Authority to replace licensing portal after data breach exposes confidential information

    Curaçao Gaming Authority to replace licensing portal after data breach exposes confidential information

    The Curaçao Gaming Authority (CGA) will permanently replace its licensing portal and terminate its external regulatory services provider following a data breach that exposed confidential licensee information. The move comes as the jurisdiction progresses with regulatory overhauls under the National Ordinance on Games of Chance (LOK). The regulator plans to transition to a new system to safeguard operator data.

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    Regulatory

    Utah sues Kalshi over alleged illegal gambling, seeks up to $61.2M

    Utah sues Kalshi over alleged illegal gambling, seeks up to $61.2M

    Utah has filed a civil lawsuit against prediction market operator Kalshi, its affiliates and two Susquehanna trading firms, alleging violations of the state's gambling laws and seeking up to $61.2 million in restitution and other financial remedies. Attorney General Derek Brown announced the lawsuit Tuesday, October 20, in Utah's Third District Court, seeking to prohibit Kalshi from...

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