DraftKings shares hit three-year low as sports betting sector sells off
DraftKings fell to a multi-year low amid an industrywide selloff, with analysts citing prediction market competition and a Brazil ban alongside a revenue miss.
RG.org · +14 outlets
MGM and Caesars will not pursue prediction markets, citing casino license risk
MGM Resorts and Caesars Entertainment said they have no plans to follow DraftKings and FanDuel into prediction markets, warning it could jeopardize their larger
Legalsportsreport · +10 outlets
Maine tribes warn prediction markets are eroding sports betting revenue
Maine tribal operators raised concerns that prediction market platforms are pulling revenue away from regulated tribal sports betting operations.
Bonus.com · +1 outlets
Tennessee wins court fight over sports betting on prediction markets
A Tennessee court ruling sided with the state in a dispute over whether sports event contracts on prediction markets fall under its sports betting framework.
News Channel 5 Nashville · +14 outlets
North Carolina sports betting handle tops $500M for 12th straight month
North Carolina recorded more than $500 million in monthly sports betting handle for the twelfth consecutive month.
Gambling News · +2 outlets
West Virginia lawmaker calls prediction markets 'moonshine' to betting's 'fine wine'
Del. Shawn Fluharty argued at the Global Gaming Expo that states, not federal regulators, should police prediction markets.
Legalsportsreport · +1 outlets
Illinois tops $1 billion in July wagers, boosted by World Cup
Illinois sports betting handle surpassed $1 billion in July, with World Cup matches helping lift wagering and revenue.
Casino.com · +10 outlets
Kalshi to end volume rewards program nearly a year early
Kalshi is winding down its Volume Incentive Program, which paid participants based on trading volume, per a self-certification filing with the CFTC.
Legalsportsreport · +14 outlets
Tax Law Center analysis questions whether prediction market event contracts are gambling
New analysis in Tax Notes examines whether sports event contracts on prediction markets should be treated as gambling for federal tax purposes.
The Tax Law Center · +14 outlets
Ohio iGaming bill sponsor eyes 2027 window for legalization
An Ohio lawmaker said online casino legalization is unlikely to advance this year but sees a 2027 opening under a new governor.
Sbcamericas
DraftKings stock drops 8% as prediction market fears overshadow NHL on Prime deal
DraftKings shares fell as investor concerns about prediction market competition outweighed news of an NHL streaming partnership.
TIKR.com · +2 outlets
DraftKings CEO Jason Robins defends company's responsible gaming record
Jason Robins pushed back on criticism of DraftKings' responsible gambling practices as the company faces regulatory and investor scrutiny.
The Sports Geek · +4 outlets
Alberta regulated iGaming market adds DraftKings, Betway and PowerPlay
Alberta's newly regulated online gaming market continues to expand, with DraftKings, Betway Canada and PowerPlay Sportsbook going live.
GamesHub · +7 outlets
Las Vegas man indicted over illegal sports betting site
Federal prosecutors indicted a Las Vegas man for operating an illegal sports betting website, an enforcement action in the offshore market.
Gambling.com · +14 outlets
FanDuel parent Flutter faces investor concerns over global regulatory headwinds
Investors are weighing regulatory pressure across Flutter's markets as the FanDuel parent navigates global headwinds.
Deadspin · +1 outlets
Citizens reiterates DraftKings rating on strong betting handle growth
Citizens maintained its rating on DraftKings, citing robust betting handle growth despite the stock's recent decline.
Investing.com · +2 outlets
BTIG maintains DraftKings rating but cuts price target to $25
BTIG kept its rating on DraftKings while lowering its price target to $25, reflecting pressure on the stock.
GuruFocus
DraftKings DKeX rollout seen as path to higher profit per customer
Analysts are watching whether DraftKings' DKeX exchange product can lift profit per customer into 2027.
Yahoo Finance · +1 outlets