Kalshi and Polymarket moved more sports money in a single month this spring than every legal U.S. sportsbook combined handled monthly all of last year. $24 billion in April. Against roughly $14 billion a month wagered at licensed books in 2025. That gap has only widened since: $44.8 billion combined in June, then north ofContinue reading “Prediction Markets Just Lapped the Entire Legal Sportsbook Industry, and Regulators Are Still Fighting Over Who Gets to Stop Them”
Tag Archives: sports betting regulation
Kalshi Just Won a Big Court Case. It’s Still Losing the War With 19 States.
Kalshi picked up a real win in April. The Third Circuit Court of Appeals ruled that the Commodity Exchange Act preempts New Jersey’s gambling law as applied to Kalshi’s sports-related contracts. Translation: the CFTC regulates this stuff, not a state gaming commission, and New Jersey can’t touch it. That’s a legitimate headline for a companyContinue reading “Kalshi Just Won a Big Court Case. It’s Still Losing the War With 19 States.”
Senate Sports Betting Hearing: What the “No Sure Bets” Hearing Actually Means
The Senate Commerce Subcommittee has scheduled a hearing for May 20 titled “No Sure Bets: Protecting Sports Integrity in America,” and if you follow this industry closely, the name alone tells you everything about who’s driving the agenda. Congress doesn’t call a hearing “No Sure Bets” because it’s trying to protect you. It calls aContinue reading “Senate Sports Betting Hearing: What the “No Sure Bets” Hearing Actually Means”
The Appeals Court Ruling That Could Send Sports Betting to the Supreme Court
Eight years ago, PASPA fell and 39 states built a $13-plus billion legal sports betting industry from the rubble. Now a federal appeals court ruling — and a circuit split that appears to be forming in real time — could bypass that entire structure, not through new legislation but through a 1974 commodities law thatContinue reading “The Appeals Court Ruling That Could Send Sports Betting to the Supreme Court”
Follow the Money: How the Betting Industry Built a Bankruptcy Machine
The sports betting industry is making billions while Americans drown in debt, and nobody’s pretending otherwise anymore. The New York Federal Reserve dropped a study in April 2026 showing that states with legal online betting saw a 10% spike in bankruptcy filings. Meanwhile, Bank of America is drooling over a $1.1 trillion market. The mathContinue reading “Follow the Money: How the Betting Industry Built a Bankruptcy Machine”
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