Category: Betting

Mike DeWine now says signing the 2021 gambling bill is the one decision he wishes he could take back, warning of addiction, aggressive ads, and threats to sport integrity.

Cleveland, Ohio — Governor Mike DeWine dropped a bombshell Wednesday, telling the cleveland.com editorial board that legalizing sports betting ranks as the single biggest mistake of his seven years in office.

The Republican governor, who signed the bill in December 2021, pointed to exploding addiction rates among young men, nonstop advertising, and growing fears that gambling money could corrupt professional and college games.

What DeWine Actually Said

“People always ask me what mistakes I made,” DeWine told editors. “I’ll lead with signing the bill for sports gaming. That’s the biggest mistake I made.”

He called the volume of betting “staggering” and the advertising “relentless.” Ohioans wagered $7.7 billion in 2023 and nearly $8.9 billion in 2024, numbers the governor said shock him every time he sees them.

“It’s a huge problem among young males up to age 45,” DeWine said. “We have many of them addicted, many spending money they simply do not have.”

The Numbers Behind the Regret

Ohio’s sports betting rollout on January 1, 2023, was one of the fastest and largest in U.S. history.

Here are the official handle figures from the Ohio Casino Control Commission:

• 2023: $7.73 billion wagered
• 2024: $8.87 billion wagered (through December)
• First 24 months total: more than $16.6 billion

Tax revenue looks impressive on paper — roughly $1 billion for the state — but DeWine now says the human cost far outweighs the dollars.

National studies back up his worry. The National Council on Problem Gambling says about 1 in 5 young adult males now show signs of gambling disorder, double the rate before widespread legalization.

In Ohio, calls to the state’s gambling helpline jumped 260% in the first year of legal betting.

Advertising That Never Stops

Walk into any gas station or scroll any app in Ohio and the ads hit you immediately: “Bet $5, get $200 in bonus bets,” “Risk-free first bet up to $1,000.”

DeWine called the marketing “in your face, 24/7.” Industry data shows Ohio gambling companies spent more than $1.2 billion on advertising and promotions in the first two years — more per capita than almost any other state.

Integrity Risks Hit Close to Home

The governor also raised alarms about game integrity. “When you have this much money flowing, the temptation for point-shaving or worse becomes real,” he warned.

Ohio is home to the Bengals, Browns, Reds, Guardians, Cavaliers, Blue Jackets, and major college programs. The NFL, NBA, and NCAA have all reported spikes in suspicious betting alerts since 2022.

Just last year, the University of Dayton expelled several athletes linked to improper betting activity, and Toledo faced NCAA scrutiny over similar issues.

Where Ohio Goes From Here

DeWine stopped short of calling for a full repeal — he admitted that ship has sailed — but he wants major changes:

• Slash the number of advertising minutes during games
• Ban credit-card wagering
• Raise the minimum age from 21 to 25
• Force betting apps to share data with the state to spot problem gamblers faster

Lawmakers in Columbus say new restrictions will be introduced when the General Assembly returns in February.

The governor ended his remarks on a somber note. “We opened the door thinking we could control it. We were wrong. And families are paying the price every single day.”

Evoke plc shocked markets Tuesday by slashing its 2025 profit outlook and refusing to give 2026 guidance while a strategic review that could end in a full sale hangs over the company. Shares in the William Hill and 888 owner plunged as much as 12% in London trading, wiping out hundreds of millions in market value in hours.

The British gambling giant now expects full-year 2025 revenue of about £1.79 billion, up just 2% from 2024 but well below the £1.84 billion analysts had penciled in. Adjusted EBITDA will land between £355 million and £360 million, a solid 14% jump year-on-year yet short of the £362 million-plus the company itself promised just months ago.

What Triggered the Sudden Drop

Investors ran for the exits after Evoke blamed tougher-than-expected trading in the fourth quarter. Revenue slid 3% to roughly £464 million in the final three months of 2025.

The company pointed to brutal sports-book margins. Last year, big punter wins on football and horse racing hammered bookies across the industry. This year, results swung the other way, handing customers hefty payouts and squeezing operator profits. Evoke called it a “normalized” sporting calendar, but the damage was already done.

The bigger cloud remains the looming rise in UK gambling taxes and ongoing regulatory pressure that continues to eat into margins across the sector.

Strategic Review Keeps Everyone Guessing

Evoke launched a formal strategic review last year and now says it is “considering all options,” including a potential sale of the entire company or individual brands.

Chief executive Per Widerström, who took the helm in late 2023, has spent the past two years trying to turn around the business after the £2.2 billion purchase of William Hill’s non-US assets from Caesars Entertainment. The deal loaded the balance sheet with debt just as Britain tightened gambling rules and affordability checks kicked in.

No one knows if a white knight buyer will step up or whether Evoke will break itself up to maximize value. That uncertainty froze investors Tuesday.

How the Numbers Stack Up

The EBITDA miss, though small in percentage terms, signals that cost cuts and efficiency drives are not keeping pace with regulatory headwinds.

Broader Pain Across UK Gambling Stocks

Evoke is not alone. Entain, Flutter, and Rank Group have all warned on profits in recent months as the industry digests higher taxes, stricter advertising rules, and new stake limits on online slots.

Britain’s remote gaming duty stays at 21% for now, but operators already pay a new statutory levy to fund research and treatment, and many fear further hikes in future budgets. Add in the cost of safer-gambling tools and affordability checks, and profit pools are shrinking fast.

For Evoke, the William Hill retail estate, once seen as a crown jewel, has become a drag as footfall shifts online and shop closures accelerate.

What Happens Next for Investors and Punters

Until the strategic review concludes, probably sometime in the first half of 2026, Evoke shares look likely to stay volatile. Some analysts believe a break-up could unlock value, with the US joint venture with Sports Illustrated and the core online brands potentially worth more apart than together.

Others worry that without a quick sale, Evoke will keep burning cash on debt interest and regulatory compliance while competitors with cleaner balance sheets pull ahead.

One thing is clear: the glory days of sky-high margins in British online gambling are over. Companies like Evoke now face a tougher, more expensive world where every pound won from customers costs more to win and keep.

The sharp sell-off Tuesday shows investors have little patience left for surprises. After years of promises, they want action, and they want it fast.

Chicago’s push to legalize video gambling terminals in bars and restaurants hangs in the balance, even after the City Council gave it the green light last month. Mayor Brandon Johnson and key aldermen now say more talks are needed, sparking fresh drama in the city’s 2026 budget saga. What changes could reshape this plan, and how might it affect everyday Chicagoans?

The City Council voted 29-19 in late December to pass a revenue plan that included legalizing video gambling terminals, or VGTs, to help plug budget holes without the mayor’s proposed head tax. This move came after tense standoffs that nearly shut down city government. Officials called the budget a “living document,” hinting at room for tweaks.

Johnson’s team sees the VGT plan as unfinished business. Top adviser Jason Lee stressed it needs “more time and some judicious collaboration.” The approval marked a rare defeat for the mayor, who had pushed for other revenue ideas like taxing high-earner jobs. Now, these talks are the first big effort to alter the budget passed over his objections.

Aldermen who backed the plan argue VGTs could bring in millions for the city. Estimates from city finance experts suggest up to $35 million in annual revenue from taxes on the machines. But critics worry about the social costs, pointing to a 2019 Illinois gambling expansion that led to more addiction cases.

One short fact stands out. Since Illinois allowed broader gambling, mental health providers have reported a spike in people seeking help for betting problems, according to a recent Axios report.

Key Players Push for Changes

Mayor Johnson has signaled he’s open to adjustments but wants protections in place. His administration fears unchecked VGTs could hurt neighborhoods already struggling with crime and poverty. Aldermen like those from wards hit hard by economic woes see the machines as a quick cash boost for local spots.

Negotiations focus on details like where VGTs can go and how many per location. Some council members want limits to avoid oversaturation in low-income areas. Bally’s, the company building Chicago’s new casino, has loudly opposed the plan, warning it could cut their revenue and jobs.

In a letter last month, Bally’s leaders claimed VGTs might siphon off casino visitors, threatening the $1.7 billion project set for River West. That casino, delayed beyond its 2026 deadline, already faces funding woes.

Talks involve balancing revenue needs with community concerns. Johnson aide Lee noted the process requires input from all sides to get it right.

• Revenue Potential: City projections show VGT taxes could generate $20-35 million yearly, based on models from other Illinois towns.
• Addiction Risks: State data from 2024 indicates a 15% rise in gambling helpline calls since expansions began.
• Job Impacts: Bally’s estimates up to 500 casino jobs at risk if VGTs draw away gamblers.

These points highlight the trade-offs at play.

Broader Effects on Chicago’s Economy

Legalizing VGTs could change the city’s bar and restaurant scene, giving small businesses a new income stream. Owners in suburbs with VGTs report boosts in foot traffic and sales. But in Chicago, where gambling has been limited, this shift raises questions about fairness.

Experts from the Illinois Gaming Board point to data showing VGTs in other areas added $800 million to state coffers in 2024 alone. For Chicago, it might mean funding for schools or roads without raising property taxes, which hit a record high last year.

Yet, the plan ties into bigger fights, like Illinois lawmakers’ efforts to block Chicago’s new sports betting tax. Set to start January 1, 2026, that 10.25% levy aims to raise funds but faces state pushback. Lawmakers in Springfield introduced bills to stop cities from adding such taxes, calling it a power grab.

One key study from Gambling Insider in early 2026 analyzed similar expansions. It found that while revenue grows, communities often see more problem gambling, with treatment costs rising 20% in affected areas.

This uncertainty affects everyday people. Bar owners hope for extra cash to survive rising costs, while residents worry about addiction hitting families hard.

Aspect	Projected Benefit	Potential Drawback
Revenue	$35M annual city tax income	Depends on machine limits
Jobs	Boost for bars and restaurants	Possible losses at Bally’s casino
Social Impact	More entertainment options	Increased addiction risks, per state health data

Challenges from State and Local Pressures

State-level drama adds layers to Chicago’s VGT push. Illinois expanded gambling in 2019, allowing VGTs outside the city, but Chicago held off due to past scandals. Now, with budget shortfalls topping $1 billion, leaders see it as a fix.

Johnson’s team wants safeguards, like banning machines near schools or churches. Aldermen counter that delays could mean lost revenue amid economic strains.

A 2025 report from the Civic Federation, a watchdog group, urged careful rollout to avoid pitfalls seen elsewhere. It cited examples where quick expansions led to regulatory messes.

Public sentiment is mixed. Some residents cheer the idea for funding city services, while others fear it preys on vulnerable groups.

These negotiations test Johnson’s leadership in his first term. With the budget passed against his wishes, any changes could set precedents for future council-mayor relations.

One thing is clear. The talks aim to refine the plan before implementation, possibly by spring 2026.

Chicago’s video gambling saga shows how tough choices in tough times can divide leaders and communities. As negotiations drag on, the city balances quick cash against long-term risks, leaving many to wonder if VGTs will truly help or just create new problems.

Fanatics, the sports giant shaking up merchandise and betting, just got a bold forecast from its CEO. Michael Rubin predicts the company could skyrocket to $50 billion in revenue over the next decade, fueled by a massive push into sports betting and fresh ideas like a new credit card. But what’s driving this ambitious vision, and can it really happen?

Michael Rubin, the powerhouse CEO of Fanatics, shared exciting plans at the National Retail Federation’s Big Show. He sees the company hitting between $30 billion and $50 billion in annual revenue within five to 10 years. This comes as Fanatics expands beyond sports gear into betting and collectibles.

Right now, Fanatics sits at a $13 billion valuation. Its current revenue breaks down to about $7 billion from merchandise, $4 billion from trading cards and collectibles, and $2 billion from gaming and betting. That’s a strong base, but Rubin wants more.

He stressed building for the long haul, with no rush to go public. “We’re in this for the long term,” Rubin said, aiming to make Fanatics the top player in sports.

Fanatics started as a sports apparel seller but has grown fast. Rubin founded it after selling his earlier company to eBay for $2.4 billion in 2011. Today, it handles everything from team jerseys to online betting.

Sports Betting as the Revenue Powerhouse

Sports betting stands out as a key driver in Rubin’s projections. He expects it to make up 40% of Fanatics’ profits by 2027, potentially adding hundreds of millions in earnings.

The company launched Fanatics Sportsbook in 2023, starting with a retail spot in Maryland. It has since grown, grabbing about 8% of the U.S. sports betting market share. That puts it third behind giants like DraftKings and FanDuel.

Why the focus on betting? The U.S. market hit $20 billion last year, and it’s still expanding as more states legalize it. Fanatics uses its huge fan database of over 100 million people to draw in bettors.

Rubin, a self-described “degenerate gambler,” knows the space well. He partnered with stars like Jay-Z to build the sportsbook. This move turns casual fans into loyal customers who bet, buy gear, and collect cards all in one place.

But challenges loom. Competition is fierce, and regulations vary by state. Fanatics must navigate these to keep growing.

Here’s a quick look at Fanatics’ revenue sources today:

• Merchandise: $7 billion (licensed sports gear)
• Collectibles: $4 billion (trading cards like Topps)
• Gaming/Betting: $2 billion (sportsbook operations)

This mix shows how betting could tip the scales toward that $50 billion goal.

Credit Card Launch to Hook More Fans

Fanatics isn’t stopping at betting. Rubin announced a new credit card launching this spring, aimed at sports fans. It will tie into the company’s FanCash loyalty program, letting users earn rewards on purchases.

This card could change how fans spend. Imagine getting points for buying a jersey that you can use for bets or tickets. It’s part of building a full sports ecosystem.

Rubin calls it a “game changer.” With 75% of sales already direct to consumers, this card boosts loyalty and spending.

The idea fits Rubin’s scrappy style. He started young, building businesses from nothing. Now, he’s eyeing global reach, including prediction markets with partners like Crypto.com.

One paragraph on risks: Expansion brings hurdles, like market saturation or economic dips that cut consumer spending.

Challenges and Opportunities Ahead

Not everything is smooth sailing for Fanatics. The sports industry faces ups and downs, from economic pressures to shifting fan habits. Betting regulations could slow growth in some areas.

Still, opportunities abound. Fanatics holds exclusive deals with leagues like the NFL and MLB for merchandise. Adding betting strengthens those ties.

Rubin stepped away from owning stakes in teams like the Philadelphia 76ers to focus on Fanatics. That move shows his commitment.

Analysts watch closely. A recent report from Sportico noted Fanatics’ 2024 sales jumped 15% to $8.1 billion, thanks to strong collectibles and retail like Lids stores.

In betting, Fanatics aims to be number one worldwide in a decade. With leaders from FanDuel on board, it’s pushing hard.

Rubin shared at a Puck conference that the “next frontier” is integrating all parts of the business. This could mean more tech like live commerce and special events.

Growth might affect everyday fans. Cheaper gear or better betting odds could come, but higher prices might hit if costs rise.

As Fanatics grows, it could reshape how we enjoy sports, from watching games to placing bets.

Fanatics’ bold push under Michael Rubin paints a thrilling future for sports fans and investors alike, blending merchandise, collectibles, and betting into a powerhouse. With projections soaring to $50 billion and innovative moves like the upcoming credit card, the company stands ready to dominate. Yet, success hinges on smart execution in a competitive world.

A Michigan bettor just sued DraftKings in federal court. He claims the popular app let him rack up over $25,000 in losses by skipping a required 24-hour wait to raise spending caps. This class action targets rules in seven states meant to protect users from rash bets.

Michael Koester filed the suit on December 30, 2025, in Michigan’s Eastern District federal court. He accuses DraftKings of breaking responsible gambling laws by letting users boost deposit and wager limits right away. Koester says this design flaw fueled his big losses from 2022 to 2023.

The complaint paints a clear picture. Koester set strict limits on his account at the end of 2021. But each time he asked to loosen them, the changes kicked in instantly. No pause. No protection.

State laws demand that wait. They aim to stop impulse plays that lead to harm.

Koester’s Story Hits Home

Koester started with DraftKings in late 2021. He put in place spending guardrails to stay safe. Over two years, he bumped those up several times. Each move let him pour in more cash fast.

He lost north of $25,000. The suit ties those hits directly to the missing delays. Koester argues DraftKings knew the rules but built the app to ignore them.

This case stands out. It spotlights how apps handle self-limits. Users set them for control. But if platforms dodge the cooldown, that control slips away.

Seven States Step Up on Safeguards

The lawsuit spans Michigan plus six others. Colorado. Connecticut. Indiana. Iowa. Louisiana. New York. All have near-identical rules.

Here’s a quick look at the core requirements:

State	Cooling-Off Rule for Limit Increases
Michigan	24 hours before easing any limit
Colorado	24-hour wait to reduce restriction
Connecticut	Full day pause on higher bets
Indiana	Delay before raising deposit caps
Iowa	24 hours for wager limit changes
Louisiana	Mandatory hold on instant hikes
New York	Waiting period to loosen controls

These laws popped up as sports betting spread after 2018. They guard against addiction in a market that saw bets top $150 billion nationwide in 2025.

DraftKings runs big in these spots. New York alone handled $26 billion in wagers last year. DraftKings grabbed over $850 million there.

Betting Boom Fuels Worry Over Addiction

Sports betting exploded across America. Legal in 38 states now. Revenue soared past $10 billion in 2025 alone for operators.

DraftKings leads the pack. It pulled in about $4.7 billion in 2024. Analysts eye $6.2 billion to $6.4 billion for full 2025. Sportsbook makes up most of that. Market share hovers near 37 percent.

But risks grow too. Problem gambling calls spiked 148 percent in legal states by late 2025. A National Council on Problem Gambling survey found 17 percent of sports bettors show risky habits. Young men face the brunt.

Apps like DraftKings offer tools. Self-exclusion. Reality checks. Deposit caps. Yet this suit claims the basics fall short.

Past cases hit DraftKings hard. Cities like Baltimore sued over predatory ads. Bettors blamed VIP perks for addiction. Courts tossed some. Others drag on.

Regulators watch close. States fined books for weak safeguards before. This could push tougher tech fixes.

Users feel it daily. Limits help some stay in check. Skip the wait, and losses mount quick. Families pay the price.

One bettor shared online frustration. Limits drop for winners. But losers get free rein. Fair?

Path Forward for Players and Platforms

DraftKings has not commented on this suit yet. The company often touts its safety steps. But silence leaves questions.

Bettors gain power here. Know your state’s rules. Check app settings often. Set firm limits early.

The industry eyes change. More states may tighten cooldowns. Apps could face redesigns.

This fight matters. It tests if big profits trump player protection in America’s betting gold rush.

Koester’s bold move spotlights real pain. Sports betting thrills millions. But unchecked apps wreck lives. Stronger rules could save futures. Hope rises for balance.

Peru’s gambling sector exploded in 2025, pulling in over 419 million soles in tax revenue and slashing illegal operations by 40 percent. Under regulator Yuri Guerra’s watch, smart rules turned a risky industry into a powerhouse for growth. But what drove this success, and what’s next?

Yuri Guerra stepped up as head of Peru’s General Directorate of Casino Games and Slot Machines, known as DGJCMT, in early 2024. He replaced Eduardo Sevilla and brought fresh energy to the Ministry of Foreign Trade and Tourism, or MINCETUR. Guerra’s background includes ties to international regulators, like former Colombian official César Valencia, which helped him build a strong foundation.

His team rolled out big changes right away. They created a new directorate just for online gaming and sports betting authorizations. This move came via Supreme Decree No. 004-2025-MINCETUR, updating old rules from 2002. The goal was simple: make the system modern and efficient for everyone involved.

Guerra pushed for transparency from day one. He told operators they had a reliable partner in MINCETUR. This approach built trust and encouraged more legal businesses to join in.

Peru’s gambling market hit a projected 12.54 percent compound annual growth rate from 2025 to 2033, according to analysts at Astute Analytica. That kind of growth shows how regulation can fuel investment without letting chaos take over.

In interviews, Guerra often highlights how these steps align with new laws like No. 31557 for remote gaming and No. 32392 for tourism. These laws gave DGJCMT the tools to oversee everything from land-based casinos to online bets.

Massive Revenue and Industry Wins

Tax collections told a big story in 2025. From January to November, Peru raked in 419.5 million soles from casinos, slot machines, online gaming, and sports betting. Sports betting led the pack, proving it’s the hottest segment right now.

This cash flow didn’t happen by accident. Effective rules drew in legitimate operators and boosted the economy. Guerra points out that good regulation drives development, turning Peru into a model for Latin America.

Operators got clear guidelines, which helped them thrive. For example, the new framework cut down on shady dealings and made sure taxes went to public services.

Here’s a quick look at the revenue breakdown:

• Sports betting: Largest share, fueling most of the growth.
• Online gaming: Steady rise with new registrations.
• Casinos and slots: Traditional earners holding strong.

Guerra’s team also modernized tourism ties. They set up a Tourism Investment Directorate under the broader strategy, linking gambling to visitor appeal.

One standout win was international praise. Peru earned nods from global experts for its balanced approach. This recognition opened doors for more partnerships and investments.

By mid-2025, the regulator claimed a 40 percent drop in illegal online gambling supply. That success came from targeted crackdowns and better tech for monitoring platforms.

Guerra shared in a recent chat that these efforts prove regulation isn’t just about control. It’s about creating opportunities that benefit everyone, from players to the government.

Battling Illegal Operations

Illegal gambling posed a real threat, but Peru fought back hard. DGJCMT used data and partnerships to spot and shut down unauthorized sites. They focused on digital platforms and apps, where much of the problem hid.

Guerra explained the strategy: build a system where legal options outshine the risks of going underground. This meant stricter checks and faster responses to violations.

Players felt the impact too. Safer environments meant less fraud and more fair play. For everyday Peruvians, this shift reduced the dangers of addiction and financial loss from sketchy operators.

In one push, authorities aligned with health groups to address gambling harms. Meetings with the Ministry of Health tackled issues like ludopathy, or gambling addiction, showing a well-rounded plan.

Looking ahead to 2026, Guerra vows to keep the pressure on illegals while refining rules for even better results. His team plans to review taxes like the Selective Consumption Tax to avoid industry pitfalls.

This fight isn’t just local. Peru’s model inspires neighbors, sharing lessons on how to regulate without stifling growth.

Global Recognition and Future Plans

Peru stood out on the world stage in 2025. Experts called it a benchmark for effective oversight in Latin America. Guerra’s leadership drew attention for blending strict rules with business-friendly policies.

One key update was the organizational revamp at MINCETUR. It strengthened ties between gambling and tourism, aiming for sustainable growth.

Guerra teased more changes, like potential tweaks to tax rates. He hopes revisions prevent any market collapse while keeping revenue high.

For high-stakes players, the framework offers trust and security. Elite poker scenes value this stability, drawing more international interest.

In essence, Peru’s story shows regulation as a tool for progress. It protects users, boosts the economy, and sets a positive example.

Peru’s gambling success in 2025 under Yuri Guerra’s guidance proves that smart rules can spark real economic growth while curbing risks, leaving a blueprint for others to follow.

FanDuel just shook up the betting world by launching its new prediction market app in states where sports gambling stays off-limits. This bold move lets users bet on everything from stock prices to game scores, but only in places like Alabama and Alaska. What’s next for this growing trend, and how does it change the game for everyday folks?

FanDuel kicked off FanDuel Predicts on December 22, 2025, targeting five states without legal online sports betting: Alabama, Alaska, North Dakota, South Carolina, and South Dakota. This platform allows people to trade contracts on real-world events, blending finance and sports in a fresh way.

The app covers sports like baseball, basketball, football, and hockey, but only where traditional betting isn’t allowed. FanDuel plans to pull sports contracts if a state legalizes online wagering later.

Users can also dive into non-sports bets, such as oil prices or stock market shifts. It’s all about predicting outcomes and trading positions.

This isn’t just another betting tool. It opens doors for folks in these states to engage with markets they couldn’t touch before.

Behind the Partnership Driving the App

FanDuel teamed up with CME Group, a big player in derivatives, to make this happen. The partnership ensures the platform follows strict rules, making it safe and legal for users nationwide.

CME Group handles the non-sports side, which will roll out everywhere eventually. This setup lets FanDuel tap into CME’s expertise for smooth operations.

The idea stems from rising interest in prediction markets. These let people bet on future events, much like trading stocks.

FanDuel isn’t alone. Rivals like DraftKings and Fanatics jumped in recently too, showing the industry’s push into this space.

Here’s what sets FanDuel Predicts apart:

• Sports bets limited to non-betting states.
• Nationwide access to financial contracts soon.
• Easy app interface for quick trades.

This collaboration could reshape how Americans interact with markets.

Plans for Expansion and What Comes Next

FanDuel calls this a phased rollout, with more states joining in weeks and into 2026. The goal is broad access, starting small to test the waters.

They aim to cover the whole U.S. for non-sports events. Sports options will stay restricted to avoid clashing with betting laws.

Regulators watch closely. Prediction markets face scrutiny, but FanDuel’s tie-up with CME Group helps navigate that.

Expect updates as laws evolve. If a state green-lights sports betting, FanDuel will adjust by dropping those contracts there.

This expansion mirrors a bigger shift. More companies eye prediction markets as a way to grow beyond traditional gambling.

State	Launch Date	Available Contracts
Alabama	Dec 22, 2025	Sports and financial
Alaska	Dec 22, 2025	Sports and financial
North Dakota	Dec 22, 2025	Sports and financial
South Carolina	Dec 22, 2025	Sports and financial
South Dakota	Dec 22, 2025	Sports and financial

This table shows the starting lineup, but watch for additions.

The rollout could boost user numbers. FanDuel, part of Flutter Entertainment, already leads in sports betting where it’s legal.

How This Fits into the Bigger Picture

Prediction markets aren’t new, but they’re heating up. They let users wager on outcomes like election results or weather patterns, though FanDuel sticks to approved topics.

Data from CME Group shows these markets have grown fast. A 2024 report noted a 25% jump in trading volume for event contracts, driven by tech-savvy users.

FanDuel’s entry taps into that. It gives people in rural or restricted areas a shot at engaging with global events.

Think about a farmer in North Dakota betting on oil prices. Or a fan in Alabama predicting a football score. It brings excitement to everyday life.

Critics worry about addiction risks, similar to gambling. FanDuel promotes responsible use, with limits and tools to help.

Still, supporters say it educates users on markets. A study by the University of Chicago in 2023 found prediction trading sharpens forecasting skills.

This launch highlights a gap in U.S. betting laws. While some states embrace sports wagering, others lag, creating room for innovations like this.

FanDuel’s move could pressure lawmakers. If folks enjoy these platforms, it might spark talks on broader legalization.

As a journalist with 25 years under my belt, I’ve seen betting evolve from backroom deals to mainstream apps. This feels like the next chapter, blending fun with finance in unexpected ways.

The FanDuel Predicts launch opens new doors for millions, blending sports thrills with market smarts in states long left out of the betting boom. It promises growth and change, but also raises questions about regulation and access.

In a stunning turnaround, prediction market giant Kalshi has scrapped its bold plan to let people bet on college athletes jumping into the transfer portal. This move comes just days after the NCAA slammed the idea as a threat to young players’ well-being. What sparked this quick retreat, and what does it mean for the future of sports gambling?

Kalshi, a rising star in the prediction market world, filed paperwork with the Commodity Futures Trading Commission on December 17, 2025. The company aimed to self-certify event contracts tied to NCAA athletes’ transfer decisions. Users could have wagered on whether specific players would enter or exit the transfer portal, a system that lets college athletes switch schools.

This wasn’t just any betting setup. It targeted individual student-athletes, turning their personal career choices into tradable events. Kalshi planned to launch these markets soon after filing, betting on the growing appetite for sports predictions. But the idea hit a wall almost instantly.

The proposal raised alarms about integrity in college sports, with critics fearing it could lead to manipulation or harassment of young athletes.

Sports experts pointed out how the transfer portal, already a hotbed of drama with over 2,000 football players entering it last season according to NCAA data from 2024, would become even more chaotic. Imagine fans betting big on a star quarterback’s next move, then pressuring him online.

Kalshi argued these markets could provide real insights into player movements, much like stock trading predicts company futures. Yet, the filing didn’t include safeguards against insider trading, a big red flag for regulators.

NCAA’s Fiery Pushback

The NCAA didn’t hold back. President Charlie Baker blasted the plan on social media, calling it “absolutely unacceptable.” He warned that betting on transfers would pile more stress on student-athletes, who already deal with abuse from angry gamblers over game outcomes.

Baker’s statement, posted just hours after Kalshi’s filing, highlighted the risks. “Student-athletes face harassment and abuse for lost bets on game performance,” he wrote. “Their decisions and future should not be gambled with, especially in an unregulated marketplace.”

This isn’t the first clash between the NCAA and gambling firms. In recent years, the organization has fought against prop bets on college games, pushing states to ban them. A 2023 NCAA survey found that 67% of college athletes reported facing threats or harassment linked to sports betting, up from previous years.

Under Baker’s leadership since 2023, the NCAA has ramped up efforts to protect players. The group lobbied the CFTC directly, urging them to block Kalshi’s certification. Industry insiders say this pressure worked fast, forcing Kalshi to rethink its strategy.

One key concern? The transfer portal’s role in Name, Image, and Likeness deals, where athletes earn money from endorsements. Betting could twist these decisions, making them about market odds rather than personal growth.

Industry Outcry and Ethical Concerns

Criticism poured in from all sides. Sports media outlets like ESPN and The Athletic called out the risks, noting how prediction markets might invite scams or unfair advantages for those with inside info, such as coaches or agents.

Gambling watchdogs echoed these fears. A report from the American Gaming Association in 2025 showed that unregulated betting markets have led to a 15% rise in fraud cases over the past two years. Kalshi, while regulated by the CFTC, operates in a gray area for sports-related contracts.

• Harassment Risks: Athletes could face targeted abuse from bettors upset over lost wagers.
• Integrity Threats: Insiders might manipulate transfers to sway markets.
• Youth Impact: Many college players are under 21, raising questions about exploiting minors’ decisions.

Even some betting enthusiasts turned against it. Posts on social media platforms showed fans worried about turning college sports into a casino sideshow. One analyst compared it to the scandals of the early 2000s, when point-shaving rocked basketball.

Kalshi isn’t new to controversy. Earlier in 2025, the company faced a class-action lawsuit accusing it of misleading users about its betting model. That case, filed in New York, claimed Kalshi acts more like a house than a fair market, leading to big losses for bettors.

Kalshi’s Swift Retreat

Faced with the uproar, Kalshi hit pause. By December 20, 2025, the company confirmed it had no plans to list the transfer portal markets. A spokesperson said they were “reassessing” after feedback from stakeholders.

This backpedal marks a rare defeat for Kalshi, which has pushed boundaries since its founding in 2018. The firm has successfully launched markets on everything from election outcomes to weather events, boasting millions in trading volume.

Why the quick fold? Experts say the CFTC’s review process played a role. While self-certification allows fast launches, the agency can step in if markets threaten public interest. With NCAA pressure mounting, Kalshi likely saw the writing on the wall.

In a statement, Kalshi emphasized its commitment to responsible innovation. But insiders whisper that legal risks, including potential lawsuits from affected athletes, tipped the scales.

Broader Implications for Sports and Betting

This saga spotlights the uneasy marriage between college sports and gambling. Since the Supreme Court struck down a federal betting ban in 2018, legal sports wagering has exploded to over $100 billion annually, per 2024 industry estimates from the American Gaming Association.

Yet, college athletics remain a sensitive spot. Unlike pro leagues, the NCAA oversees amateurs, many navigating life-changing choices amid financial pressures. Betting on transfers could erode trust, especially as NIL deals hit $1 billion in value last year, according to a 2025 Opendorse report.

Looking ahead, this could set precedents. Regulators might tighten rules on event contracts involving individuals, protecting vulnerable groups. For fans, it raises questions about where to draw the line in monetizing sports drama.

The Kalshi pullback feels like a win for athlete welfare, pulling back the curtain on how gambling’s reach can harm real lives. It reminds us that behind every bet is a human story, often of young people chasing dreams under bright lights.