ReadWrite

Federal regulators have taken Arizona, Illinois, and Connecticut to court, opening a new front in the fight over so-called event contracts and who gets to regulate them. The Commodity Futures Trading Commission, joined by the United States, filed lawsuits in federal district courts seeking to stop those states from enforcing laws that would block these products. Federal officials argue event contracts fall under their authority when they trade on registered exchanges. State regulators see som

The Esports Integrity Commission (ESIC) has handed down a four-year ban to Counter-Strike player Dmytro “Nifee” Tediashvili after concluding he took part in match manipulation and betting-related misconduct, according to a newly released sanction decision. Investigators with ESIC determined that Tediashvili violated its integrity rules by engaging in conduct that compromised fair competition. The decision was based on influencing match outcomes and placing bets tied to those same contests, ac

FanDuel has been cleared by the Michigan Gaming Control Board to connect its online poker platform with players in other states, opening a new chapter for the state’s regulated market. Once implemented, the change will allow Michigan users on FanDuel to compete directly with players across state lines for the first time on the platform. The regulator confirmed the decision Wednesday (April 1) after completing a review of FanDuel’s systems and controls. Officials examined technical standards s

The Iowa Senate has signed off on a bill that would bring new rules and taxes to a fast-expanding corner of finance often called prediction markets. Lawmakers approved Senate File 2470 on Tuesday (March 31), making it the first time a state legislative chamber has moved to formally regulate this type of trading. The proposal lays out a structure for companies offering what it calls event-driven contracts. These are financial products that pay out based on whether a specific future event happe

Kentucky lawmakers are moving forward with a wide-ranging gaming bill that would reshape how betting works across the state, from fantasy sports to emerging prediction markets. The proposal bundles multiple changes into one framework while giving regulators broader authority to oversee the industry. House Bill 904 cleared the House in March and is now under review in the Senate. If it passes, the Kentucky Horse Racing and Gaming Corporation would take on expanded control over several forms of

Two major names in online sports betting are now facing twin federal lawsuits filed on the same day, as a smaller tech firm accuses them of using its patented systems without authorization. Interactive Games LLC brought separate cases against FanDuel and Betfair in New Jersey and DraftKings in Massachusetts. In both filings, the company claims the operators are relying on mobile wagering technology that traces back to patents it now controls. The lawsuits state that Interactive Games’ pred

Authorities in Sarasota County say they’ve dismantled an illegal gambling setup and taken two people into custody after spending months building the case. Investigators focused on a business operating as Spin 24/7 along South Beneva Road. Deputies arrested Mohamed Belyaqout, 52, at the storefront on March 26. The next day, they tracked down a second suspect, Mabielka C. Cumbrera, 45, and arrested her at a Sarasota residence. SCSO in cooperation with the Florida Gaming Control Commission (

Tennessee lawmakers are taking another step toward tightening rules on online gambling, advancing legislation that targets sweepstakes-style casino platforms officials say are misleading residents. House Bill 1885, introduced by Rep. Scott Cepicky, moved forward Tuesday (March 31) after clearing a House panel with a recommendation for passage. The proposal now heads to the House Finance, Ways, and Means Committee, where lawmakers will weigh its financial impact before deciding whether to move

A legal fight over online prediction markets is picking up steam, as companies tied to Polymarket push a federal appeals court against Nevada to step in and block a lower court’s decision. In a new filing with the US Court of Appeals for the Ninth Circuit, the companies, which include Blockratize Inc., QCX LLC, and Adventure One QSS Inc, argue the case belongs in federal court and are now seeking an emergency stay while their appeal moves forward. argue they’re likely to win on appeal and sho

Tribal leaders from around the country came together this week as the Indian Gaming Association’s Board of Directors met at the Hard Rock Hotel San Diego alongside its annual tradeshow, tackling financial business before turning to a fast-growing fight over sports prediction markets. The board approved a formal resolution pushing back on efforts by the Commodity Futures Trading Commission to oversee so-called event contracts, including sports betting. Tribal leaders argue those products funct

Ohio is digging in against Kalshi, claiming that it wants to keep offering sports-related contracts, telling a federal appeals court the business is essentially dodging state gambling rules and shouldn’t keep operating while its appeal plays out. In a new filing with the Sixth Circuit, state officials say the prediction market company is unlikely to win and hasn’t cleared the high legal threshold needed to justify an injunction during the appeal process. Our team is grateful for your kind

Kalshi is asking a federal judge in Arizona to step in and halt state enforcement actions targeting its event-based trading platform. The move ramps up a growing legal fight over whether Kalshi’s contracts should be treated as legitimate financial products or illegal sports betting. The company’s request is based on a preliminary injunction that would block Arizona officials from continuing what Kalshi describes as a criminal case tied to its platform. In a reply brief filed Tuesday (March 31

Minutes before Donald Trump posted a market-moving message on Iran, trading volumes in S&P 500 futures and oil markets suddenly surged. The spike was sharp, concentrated, and unusually well-timed. To outside observers, it raised an obvious question. Was this some kind of fluke, sharp analysis, or something closer to inside information? Just minutes before Trump's announcement of talks with Iran, massive trades hit the market.In one move, $1.5 billion in S&P 500 futures were p

The killing of a well-known poker player in Westfield is putting new focus on the financial relationships that can grow around the game, and how they can turn dangerous. Ronald Dewayne Brown Jr., an Indianapolis resident now charged with murder, was arrested March 27 in connection with the shooting. Prosecutors filed the charge in Hamilton County on Monday (March 30), and court records seen by ReadWrite show he is being held without bond while awaiting trial. Suspect arrested for murder o

Louisiana lawmakers are pressing ahead with legislation that would expand the state’s racketeering laws to cover a range of gambling-related crimes. House Bill 53 cleared the House on Monday (March 30), and quickly moved to the Senate for further consideration. Rep. Bryan Fontenot, who sponsored the measure, saw it pass with strong support. Lawmakers backed the bill by wide margins, with vote counts of 87-11 and 86-11, while several members did not vote. The Senate has already given the propo

The Mohegan Tribal Gaming Authority says it has reached an agreement to sell the Connecticut Sun to the Tilman J. Fertitta family, a move that would relocate the WNBA franchise to Houston starting in 2027 if league officials sign off. The announcement came Monday (March 30) from Uncasville, Connecticut, bringing an end to Mohegan’s 23-year run as owner. The team will spend one final season at Mohegan Sun Arena before the planned move. Company officials said the decision followed a broad revie

New York Gov. Kathy Hochul is planning to roll out a comprehensive plan to tighten oversight of online gambling, with a sharp focus on keeping young people off betting platforms and curbing industry practices that can fuel addiction. The proposals, released Monday (March 30) alongside draft rules from the state Gaming Commission, expand on priorities outlined in Hochul’s 2026 State of the State agenda. Regulators have opened the measures for public comment, describing them as an effort to sto

A new nationwide survey suggests most Americans don’t see sports prediction markets as investing tools, but rather as another form of gambling, with growing concern about how these platforms operate and who might be at risk. The poll, commissioned by Gambling Is Not Investing and carried out by Morning Consult, gathered responses from 15,029 adults across the United States between March 17 and March 22, 2026. It paints a detailed picture of how people understand prediction markets and what ki

A federal judge in Washington DC has decided to temporarily stop a lawsuit filed by three California tribes over a controversial casino proposal tied to the Koi Nation of Northern California. The pause, ordered March 27 by US District Judge Carl J. Nichols, puts the case on hold while similar legal fights play out in another court. The tribes behind the lawsuit are described as three “Southern Pomo Indian tribes with strong historical connections to Sonoma County, California.” They challenged

Regulators in Pennsylvania have signed off on a settlement with BetMGM after uncovering a series of fraud-related failures tied to how the company verified its customers. The agreement, approved March 25, comes with financial penalties and the removal of credit cards from the BetMGM platform starting March 31. The decision follows a detailed review of multiple cases where fraudulent users were able to open accounts, move money, and withdraw funds using stolen or fabricated identities. State o