Author: Maisie Morrison

TLDR New York City Council has opened an investigation into four prediction market platforms over advertising practices. Council Speaker Julie Menin sent letters to Polymarket, Kalshi, Coinbase and Gemini Titan on August 11. The letters raise concerns that companies may have targeted young adults and possibly minors with misleading ads. Companies have 14 days to respond to more than 60 questions about users, revenue and marketing. The probe comes as New York’s Attorney General separately sues Kalshi over alleged illegal gambling operations. The New York City Council has started looking into how four prediction market platforms advertise to residents. The…

TLDR Lazio and Polymarket ended their 19 million euro sponsorship deal by mutual agreement Italian regulators classified Polymarket as a betting platform and blocked access to the site Polymarket will still pay Lazio the full amount owed for the 2026/2027 season Both sides say they could form a new partnership if Italian rules change in the future Polymarket has faced bans or restrictions in Hungary, Romania, Spain, Ireland, and other countries Lazio has ended its sponsorship deal with Polymarket. The Italian football club confirmed the split on August 12, 2026. The deal was worth 19 million euros. It was signed…

TLDR Lawmakers sent a joint letter to MLB, the players union, and FanDuel demanding changes to VIP betting promotions. The letter followed a scandal involving a Cameo video from Bryce Harper that FanDuel gave to a bettor who lost more than $1.5 million. Harper says he did not know how FanDuel planned to use the video and would not have made it otherwise. Senator Richard Blumenthal and Representatives Paul Tonko and Valerie Foushee are leading the push for reform. MLB, the union, and FanDuel have until August 24 to respond to formal questions about their marketing rules. Lawmakers in Washington…

TLDR Brazil has blocked more than 60,000 illegal betting websites since automated enforcement began in October Illegal betting still makes up 38% to 41% of Brazil’s betting market, down from an earlier estimate The government is working with the financial system to freeze funds tied to illegal operators Brazil’s Federal Court of Accounts called for joint action between the Ministry of Finance, Central Bank, and other agencies Licensed operators must follow rules like biometric checks, traceable payments, and age limits Brazil’s Ministry of Finance says it will keep targeting illegal betting operators. The goal is to strengthen the country’s regulated…

TLDR PAGCOR’s minimum guaranteed fee rule took effect on July 1, 2026, after two delays. Operators offering electronic casino games must pay a minimum of PHP9 million monthly once revenue hits PHP30 million. Operators without electronic casino games pay a PHP3 million minimum once revenue reaches PHP15 million. Fees rise again on January 1, 2027, to PHP10.5 million and PHP4 million. The number of accredited gaming system administrators has dropped to 60 as of July 30. The Philippine Amusement and Gaming Corp, known as PAGCOR, has confirmed its new minimum fee rule for online gaming system administrators started on July…

TLDR Paradise Co’s net income fell 24.4% year on year in the second quarter of 2026. The company still posted higher sales, up 11.8% compared with the same period last year. First half casino sales reached KRW477.62 billion, a 5.1% increase from last year. Hana Securities warned a proposed new casino tax cap could cut annual profit by 9%. The proposed regulation change has not been adopted and remains under discussion. Paradise Co, a South Korean casino operator, reported lower profit for the second quarter of 2026. The company’s net income fell despite higher sales during the period. Net income…

TLDR Konami Gaming Inc has achieved ISO 27001 certification for its information security management system. The certification covers the Synkros casino management system and the Konami Online Interactive iGaming platform. Schellman & Co LLC, a US-based certification body accredited by ANAB and UKAS, carried out the audit. The certification is valid for three years, with annual surveillance reviews starting in 2027. Multiple internal teams took part, including IT, security, marketing, and technical compliance staff. Konami Gaming Inc has received ISO 27001 certification for its information security management system. The certification applies to two of the company’s core products. Those products…

TLDR Gambling and prediction market companies have donated more than $12 million to Florida political campaigns ahead of the 2026 election. The Seminole Tribe gave about $9 million, including $4 million to governor candidate Byron Donalds. FanDuel, DraftKings, Caesars, PrizePicks and Underdog donated despite being shut out of Florida’s regulated sports betting market. Prediction market companies Kalshi and Robinhood gave hundreds of thousands of dollars, mostly to Donalds. Susquehanna co-founder Jeff Yass gave $11 million combined to Donalds and a political committee supporting him. Gambling and gaming companies have given more than $12 million to Florida political campaigns ahead of…

TLDR Brazilian families lost an estimated R$62.5 billion (over $12 billion) to sports betting in 2025. Betting companies received roughly R$350.97 billion through Pix, Brazil’s instant payment system, during the year. The government’s official revenue figure of R$36.9 billion is far below the Comsefaz estimate, pointing to a large unregulated market. A ban on Bolsa Família welfare recipients betting, introduced in October 2025, was followed by slower growth in betting transactions. A separate study suggests illegal betting could make up 41% to 51% of Brazil’s total betting market. Brazilian households lost close to R$62.5 billion to sports betting platforms in…

TLDR A Connecticut federal judge denied Kalshi’s request to block state gambling law enforcement. The court ruled Kalshi’s sports event contracts do not qualify as swaps under federal commodities law. The judge rejected Kalshi’s claim that federal law preempts Connecticut’s gambling rules. Coinbase’s request for a similar injunction was denied in a related case the same day. Sports contracts made up between 80% and 90% of Kalshi’s total revenue. A federal judge in Connecticut has ruled against Kalshi in its fight over state gambling laws. U.S. District Judge Vernon D. Oliver said the company is unlikely to win its case…