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Coinbase Financial Markets Inc. has agreed to stop offering new sports-event contracts to Michigan customers and close remaining open positions by midnight Saturday under an agreement with state regulators, the Michigan Gaming Control Board said. The deal gives Coinbase a firm deadline to wind down the products in the state. In return, Michigan will hold off on enforcement action while Coinbase complies and related appeals continue. Coinbase logo – Photo: Coinbase, Inc What the agreement r

Rep. Don Davis, a North Carolina Democrat, introduced the No Betting on Your Own Race Act, a bill that would bar federal candidates and specified people and campaign bodies connected to them from trading contracts tied to their own elections. Violators would face a civil penalty of $10,000 or three times the net financial gain, whichever is greater, according to Quartz. The proposal would place a federal restriction on the people involved in the trading, rather than directly penalizing predictio

DraftKings and FanDuel each added $3.5 million to Nebraska’s online sports-betting campaign as prediction markets topped $9.4 billion in weekend volume ahead of the state’s November 3 vote. The contributions to Tax Relief Nebraska bring the sportsbooks’ latest fundraising push into focus as voters consider measures to authorize online wagering and establish its regulatory framework. The Nebraska online betting measures would allow up to 12 mobile sportsbooks to partner with the state’s six gamin

Maine’s online casino market is legal but not live, with the Maine Gambling Control Unit taking public comments on proposed rules through Oct. 30 as a federal lawsuit challenging tribal exclusivity remains unresolved. No launch date has been confirmed, leaving operators’ path into the market dependent on rulemaking and an ongoing court fight. Rules and lawsuit shape the rollout The Gambling Control Unit released its proposed online casino rulemaking notice on Sept. 30. It covers licensing, house

Bank of America upgraded DraftKings from Neutral to Buy, kept its $27 price target and estimated the company could collect about $400 million in prediction-market fees in 2027. The forecast gives investors a concrete measure of the potential contribution from a business DraftKings is expanding alongside its sportsbook. BofA also sees a separate $200 million to $400 million opportunity from market-making activities; it did not combine that estimate with the fee forecast. Different forecasts for 2

Pennsylvania lawmakers are considering House Bill 2801, a proposal that would prohibit sweepstakes casino-style platforms and create a state regulatory framework for skill-game machines if enacted as written. Deadspin reported that the measure combines the sweepstakes provision with rules for machines that have been at the center of a legal dispute. It remains a proposal, not a ban already in force: lawmakers can still debate and amend the bill. One bill, two gaming formats For sweepstakes casin

Florida Attorney General James Uthmeier is suing the operators behind Chumba Casino, Global Poker and Stake.us, alleging that their sweepstakes casino platforms violate state gambling law and seeking to shut them down. The cases put more than the operators’ access to Florida at stake: the state is also seeking civil penalties and recovery of Floridians’ losses. As South Florida Reporter describes it, the lawsuits mark a shift from a proposed statewide ban to litigation targeting two major compan

Nevada has opposed Kalshi’s request to delay proceedings on its rehearing petition in the Ninth Circuit while the CFTC develops proposed event-contract rules, keeping the state’s challenge to the platform’s operations before the court. The dispute is part of a broader fight over whether federal commodities law prevents Nevada from applying its gaming rules to Kalshi’s sports-event contracts. CDC Gaming reported that Nevada’s filing argues a coming revision to a CFTC rule would not change the leg

A Pennsylvania man who self-excluded from DraftKings and FanDuel after bankruptcy later found Kalshi through an Instagram ad and lost more than $25,000, NPR reported. Identified by his middle name, Thomas said he began betting on DraftKings and FanDuel during the pandemic, mostly on football and tennis parlays. Over several years, he accumulated about $75,000 in credit-card and personal-loan debt and lost more than $50,000 on online sportsbooks. Thomas filed for bankruptcy in late 2023, settled

Novig said trading volume rose nearly 94% and first-time depositors increased more than 218% across the 20 days before and after its Sept. 9 “Just Sports” campaign starring Sydney Sweeney, according to CNBC’s report of co-founder Jacob Fortinsky’s figures. The company launched as a federally regulated prediction-market platform on Aug. 4. The campaign’s timing also overlapped with the start of the NFL season, so the reported comparison does not establish that the advertisement alone drove the in

New York has moved to sue Polymarket as prediction markets offer sports contracts outside the state’s sportsbook tax framework, raising questions about a gambling-tax base worth more than $1 billion a year. The platforms argue that they operate as federally overseen derivatives exchanges, not under state gambling laws, a dispute that could shape where sports-related wagering is taxed. The conflict puts a large revenue stream in focus. New York’s legal and tax treatment of prediction-market contr

Pennsylvania Rep. Joe Webster is drafting legislation that would require licensed online gaming companies operating in the state to send users monthly activity statements. He is circulating a co-sponsorship memorandum, so the proposal remains at the drafting stage-not a filed bill or a new legal requirement for operators. The measure would give users a recurring notice showing how much they wagered, according to the memorandum described by CDC Gaming. The available account does not specify which

North Carolina recorded its 12th consecutive month with more than $500 million wagered on sports, extending a run that signals sustained market activity while counselors warn about gambling addiction. The milestone was reported by Spectrum Local News on Friday, October 2. The outlet’s report also examined concerns about the effects of betting, particularly on young adults, and whether the state’s support for people experiencing gambling problems is adequate. August handle reached $520.5 million

Cboe plans to launch KPI-based binary contracts for 23 U.S.-listed companies in October 2026, subject to regulatory approval, with Robinhood set to be the first retail broker to offer them. The planned products would let investors take positions on company-specific metrics and corporate events. Cboe says the contracts would be SEC-regulated securities traded on its registered U.S. securities exchange, with Robinhood handling retail distribution. The Cboe Volatility Index (VIX) displayed on a mob

DraftKings faces a proposed class action in federal court in Boston alleging it used artificial intelligence to identify customers likely to respond to gambling promotions, as Massachusetts regulators examine how sportsbooks use AI. The complaint, filed by West Virginia customer Daniel Vest, puts the company’s use of customer data and promotional targeting at the center of a consumer-protection dispute. The Massachusetts Gaming Commission has said it will look into AI use by DraftKings and other

Maine’s Gambling Control Unit is monitoring how sports-betting operators use artificial intelligence after New York Times reporting raised concerns about DraftKings’ alleged use of machine learning to target promotional offers. DraftKings is one of Maine’s two licensed mobile sportsbook operators, making the issue a local oversight question even though the state has no AI-specific gambling rules. The unit told WGME’s CBS13 I-Team that it is watching AI use both in Maine and nationally. What Main

New Jersey senators James Beach and Vincent Polistina are sponsoring a bill that would replace criminal penalties for underage gambling at licensed casinos and simulcasting facilities with civil fines of up to $2,000. Senate Bill 597 would change how the state handles violations, but not who is legally allowed to gamble: the minimum age would remain 21. The proposal would also expose casino licensees, employees and some adults to fines if they knowingly allow underage gambling. Fines would rise

New Hampshire’s Senate narrowly advanced SB 104 by a 13-11 vote, moving a proposal to legalize and regulate online casino games to the Senate Finance Committee. The bill is not law, and its close passage leaves its prospects uncertain. Action Network reported that the Senate vote took place on Monday, September 28. The next committee review will test whether the proposal can maintain enough support to proceed through the Legislature. The New Hampshire State House in Concord, NH. What SB 104 woul

The Supreme Court is weighing petitions involving prediction markets as the House Oversight Committee expands an insider-trading inquiry and the CFTC reportedly reviews promotional programs, putting operators under pressure from three separate federal fronts. The developments, reported by Gambling Insider on September 30, 2026, are unfolding alongside stronger opposition from casino, Tribal gaming and labor representatives. They are not one coordinated enforcement action: the court has not agree

Polymarket has named Goldman Sachs veteran Lisa Mantil head of institutional growth, putting Wall Street participation and liquidity at the center of its next phase of expansion. The appointment was announced on Tuesday, September 29, according to a MarketWatch report by Kelly Cloonan. Mantil will lead the company’s work with investment managers, trading firms, corporations and banks. Building for institutional participation Polymarket said Mantil will help develop the products, infrastructure a