TLDR Kalshi fined three political candidates for betting on their own elections, calling it a crackdown on political insider trading Virginia Senate candidate Mark Moran says he placed bets on himself on purpose because he “wanted to get caught” to expose prediction market issues Moran refused to settle and was hit with a $6,229 fine, a five-year ban, and disgorgement of profits Minnesota candidate Matt Klein bet on himself on Kalshi despite co-sponsoring legislation to ban election betting Kalshi published all three enforcement actions at once to show regulators it can police its own platform Kalshi, the prediction market platform,…
Author: Maisie Morrison
TLDR Governor Kathy Hochul signed Executive Order No. 60 banning New York state employees from profiting on prediction markets using insider information Violations can result in dismissal, sanctions, or referral to law enforcement The order targets platforms where users bet on political, military, and social events Reports have linked over $1 billion in suspicious trades to government actions and military strikes New York has also sued Coinbase and Gemini this week for alleged illegal online gambling New York Governor Kathy Hochul has signed an executive order that bars state employees from using insider information to make money on prediction markets.…
TLDR New York and Illinois governors signed executive orders banning state employees from using non-public information to trade on prediction markets California had already expanded ethics rules in late March to cover prediction market trading by government workers Tennessee is moving to make prediction market participation a felony, while Kentucky banned state-licensed gaming operators from the sector Multiple federal bills have been introduced targeting insider trading on prediction markets, including the PREDICT Act and STOP Corrupt Bets Act The CFTC faces growing pressure from Congress over its handling of geopolitical event contracts and possible insider trading The governors of New…
TLDR PENN Entertainment posted Q1 2026 revenue of $1.779 billion, beating the $1.745 billion consensus forecast, with adjusted EPS of $0.11 versus the $0.06 expected. The interactive segment generated $358.3 million in revenue, powered by roughly 15% year-over-year iCasino growth and record results in March. PENN is preparing to launch theScore Bet in Alberta, Canada, when the province opens its regulated online gambling market on July 13, 2026. The company’s Hollywood Casino Joliet in Illinois hit record slot and table volumes in Q1 after opening in August 2025. PENN has reduced net debt to $2.2 billion and holds total liquidity…
TLDR FDJ United will keep its Unibet brand in the UK despite a 24.1% drop in Kindred UK gross gaming revenue in Q1 UK remote gaming duty nearly doubled from 21% to 40% of GGR in April, adding further financial pressure Total group GGR rose 1% to €2.175 billion, but online betting and gaming revenue fell 8% New gaming chief Pascal Chaffard says departments were too siloed and plans to fix collaboration issues FDJ expects the UK turnaround to take “some quarters” rather than years FDJ United has confirmed it will not pull its Unibet brand from the United Kingdom,…
TLDR New Zealand’s Online Casino Gambling Bill passed its third and final reading in parliament this week and now heads to Royal Assent, expected in May Up to 15 online casino operator licences will be issued through a competitive process, with applications opening in July and closing 1 December 2026 Licensed operators will face strict rules including penalties of up to NZ$5 million for serious breaches The law applies to offshore operators too — those who don’t apply for a licence by the deadline must stop serving New Zealand customers A portion of gross gaming revenue may fund local sports…
TLDR Short sellers Muddy Waters and Callisto Research released reports alleging Sportradar earns up to 40% of its revenue from unlicensed gambling operators. Muddy Waters claimed Sportradar offered to connect undercover investigators with the Yabo Group, a Chinese operator allegedly linked to human trafficking. Callisto said over a third of Sportradar’s operator clients are unlicensed or operating in jurisdictions where gambling is illegal. Sportradar’s stock dropped roughly 22.6% on Wednesday, closing at $13.04 after opening at $16.70. Sportradar denied the claims, calling the reports a “fundamental misunderstanding” of its business and accusing the authors of seeking to profit from stock…
TLDR Australia’s ACMA published research showing gambling operators are rapidly adopting AI across marketing, odds-setting, fraud detection and player safety Sportsbet’s AI chatbot now handles over one-third of customer enquiries with 94% accuracy Betfair Australia reported a 22% improvement in odds accuracy thanks to AI tools The regulator warned commercial priorities may favour boosting engagement over minimising gambling harm AI chatbots like ChatGPT and Grok have been found directing users to unlicensed offshore gambling sites The Australian Communications and Media Authority this week released research showing gambling operators across the country are rapidly integrating artificial intelligence into their businesses. The…
TLDR Oklahoma lawmakers introduced an amended sports betting bill (HB 1047) with tribal backing ahead of an expected Senate vote this week The bill allows tribes to offer retail and mobile sports betting and partner with commercial operators like FanDuel or DraftKings The state would receive an 8% fee on adjusted sports betting revenue, with funds going to education, workforce programs, and problem gambling services A supermajority of tribes in the Oklahoma Indian Gaming Association, public universities, and the Oklahoma City Thunder support the bill Governor Kevin Stitt remains a hurdle, insisting on a free-market model rather than a tribal-controlled…
TLDR BetHog closed a $10 million Series A round co-led by Will Ventures and RockawayX, bringing total funding to $16 million. The company launched Sentient Studios, a B2B platform that lets casino operators deploy AI-powered live dealers. CEO Nigel Eccles said BetHog’s AI dealer is 10 times more popular than traditional live dealers in early testing. The platform runs on a revenue-share model with no setup fees or minimum commitments for operators. BetHog plans to expand its AI dealers into baccarat and roulette later this year after launching its first AI blackjack dealer “Sunny” in October 2025. BetHog, the crypto-native…