Author: Maisie Morrison

TLDR Utah Attorney General Derek Brown sued Kalshi, its affiliates and two Susquehanna trading companies over alleged illegal betting. The state wants a court to make the companies return $30 million to $60 million in profits. Brown says Kalshi offered its services to more than 32,000 Utah users since 2024. Kalshi lost a federal preemption ruling in August and an appeal for an injunction in September. Kalshi says it is a federally regulated exchange and that no single state should have a veto over it. Utah Attorney General Derek Brown has filed a lawsuit against prediction market platform Kalshi. The…

TLDR A New York special master ordered KKR and Shamrock Capital to submit previously withheld communications for confidential review. The documents relate to FanDuel’s valuation before the sale, drag-along rights, and expected proceeds for the founders. FanDuel co-founder Nigel Eccles and more than 100 co-plaintiffs are suing the private equity firms over the 2018 sale. The order does not say the defendants broke their fiduciary duties under Scots law. Both sides must agree on a review timeline before the Dec. 18 discovery deadline. FanDuel co-founder Nigel Eccles and more than 100 co-plaintiffs won a small legal victory last week. A…

TLDR Buenos Aires Senator Federico Fagioli has introduced a bill, called the “Lula Law,” to ban most online gambling in the province. The bill was inspired by Brazil’s ban on fixed-odds betting, issued by President Luiz Inácio Lula da Silva on September 25. Only lotteries, quinielas and draws would remain legal online. Operators would have to refund all player balances, stop taking deposits and end all gambling ads. A rival bill from other lawmakers would tighten the rules on online gambling instead of banning it. A senator in Argentina’s Buenos Aires Province has introduced a bill that would ban most…

TLDR From January 1, 2027, gambling ads in Australia cannot feature celebrities, athletes or influencers. Licensed wagering operators will also be banned from making ad deals with these people. The rules cover TV, radio, news websites, social media and online games. New ACMA guidance explains who is covered, possible exceptions and how breaches may be assessed. The ACMA calls this “initial industry guidance” and may issue formal guidance later. The Australian Communications and Media Authority (ACMA) has released its first guidance on new rules that ban well-known people from gambling ads. The rules take effect on January 1, 2027. The…

TLDR US lawmakers are pressing FanDuel for details about its VIP program and personalized videos sent to customers. A bettor sued FanDuel after getting a video featuring Bryce Harper. He claims the company fueled betting losses of over $1.5 million. FanDuel launched a “Fast Facts” webpage covering spending data, account security, and harm detection systems. The company says the average sports bettor spends about $63 a month and the average same-game parlay stake is about $14. FanDuel reported blocking one million account creation attempts and running 58,000 manual responsible gambling reviews in the past year. FanDuel is defending how it…

TLDR Lula and Flávio Bolsonaro did not discuss Brazil’s online betting ban during their televised debate on October 18. Lula signed a measure on September 25 banning fixed-odds betting and online casinos, citing household debt. Flávio led the first round with 47% of the vote to Lula’s 45%. Hours before the debate, police sent a money laundering case involving Flávio and lawyer Willer Tomaz to the Supreme Federal Court. The runoff vote takes place on October 25. Brazil’s two presidential candidates did not discuss the country’s online betting ban during their televised debate on Sunday, October 18. Luiz Inácio Lula…

TLDR KB Securities expects Lotte Tour Development’s September quarter earnings to fall short of forecasts. Jeju Dream Tower’s club membership rose to 166,000 in the third quarter, up from 149,000 in the second quarter. Spending per visitor has not kept pace with rising attendance, which an analyst linked to policy changes in China. Average daily revenue per gaming table is about KRW13 million, compared with KRW20 million in Macau. September set a new visitor record, but casino revenue fell sharply because of lower hold. Lotte Tour Development is expected to report weaker than forecast earnings for the September 2026 quarter,…

TLDR Comoros says a gambling licensing network using Anjouan’s name is operating without authorization. Nearly 1,500 businesses on Anjouan’s public register hold the disputed licenses. The government is seeking British help and working with international police and financial intelligence agencies. Researchers found the 2005 gambling law cited by the licensing regime was unsigned and unstamped. A company linked to London’s Sorsky family saw its cash rise from £13,130 to £614,826 in 2025. The government of Comoros says an offshore gambling licensing network using the name of Anjouan, one of its islands, is operating without permission. It is asking the United…

TLDR South Korean police broke up an illegal online gambling network that allegedly took $17.2 billion in wagers across 188 casino websites. Former corporate software developers allegedly built a program that could create a working casino site in about 10 minutes. Police apprehended 77 people and detained 21 of them following an investigation that began in November 2025. Investigators traced 795 bank accounts and froze about $7.2 million in suspected criminal proceeds. Police are seeking Interpol red notices for 12 suspects believed to have fled overseas. South Korean police have broken up an illegal online gambling network that allegedly handled…

TLDR Ohio Governor Mike DeWine says the state will take legal action against prediction market operators that offer sports contracts. The Ohio Casino Control Commission has sent cease-and-desist notices to Kalshi, Polymarket and Robinhood. A federal court ruled that Kalshi must follow Ohio law, and the company is challenging the decision. Two state bills would ban election contracts and treat sports event contracts as taxable gambling. Gambling harm experts warn that prediction markets let 18-year-olds trade, while Ohio’s sports betting age is 21. Ohio is preparing to take further legal action against prediction market operators that offer contracts tied to…