New York officials have filed a major lawsuit against QCX LLC, the operator of Polymarket US, accusing the company of running an illegal gambling business. The legal action, brought jointly by New York Governor Kathy Hochul and Attorney General Letitia James, claims that Polymarket has been operating an unlicensed sports betting and event prediction service across the state since launching its domestic platform in December 2025. Following an extensive investigation, the Office of the Attorney General determined that the event contracts offered by Polymarket meet the legal definition of gambling under state law because the wagering outcomes depend on chance…

The Circa Survivor pro football contest experienced a massive wave of eliminations during the opening week of the season. A total of 25,017 entries registered for the Las Vegas based event hosted by Circa Sports, creating a prize pool of $25,017,000. However, early upsets proved fatal for thousands of contestants, knocking out 32.2% of the initial field in just a few days. The biggest factor in the high casualty rate was a shocking upset involving Los Angeles and Arizona. Los Angeles entered the matchup tied as an 8.5 point favorite, leading 7,585 participants to select them. That single game accounted…

BetMGM football betting features have officially expanded for the 2026-27 season, bringing a suite of new options, updated promotions, and enhanced sportsbook functionality to users across eligible markets. The operator has expanded its Cash Out capabilities, giving bettors increased flexibility to settle eligible wagers before a sporting event finishes. Alongside this change, the platform introduced Odds Flash, a feature designed to deliver premium spread pricing across college and professional games while providing real-time odds notifications. Another notable addition for the upcoming calendar is BetDefense, an initiative that offers first-quarter injury protection on eligible professional player prop bets. Under this policy,…

Prediction market platform Kalshi has threatened legal action against Netflix following the release of a trailer for an upcoming documentary covering the financial prediction industry. Attorneys representing the prediction markets company sent a formal cease and desist letter to the streaming service demanding the immediate removal of the promotional video for Instadocs: The Prediction Market Games alongside a public retraction. The legal dispute centers on a specific scene in the documentary trailer filmed during a watch party in Las Vegas, Nevada. In the clip, an attendee displays a mobile screen showing a $5,000 wager placed on Spain to win the…

A call for a prediction markets crackdown has intensified as sports leagues, casino operators, and lawmakers push back against federal regulatory proposals. The NFL and the Casino Association of New Jersey submitted comments urging the U.S. Commodity Futures Trading Commission to block financial platforms from offering sports event contracts. Traditional gaming companies argue that federally regulated derivatives platforms such as Kalshi and Polymarket bypass state gambling laws, threatening established state and tribal regulatory authority across the country. The American Gaming Association estimates that state governments have lost more than $1 billion in tax revenues due to the expansion of federally…

Concerns over prediction markets are mounting among gaming associations and tribal leaders who are calling on federal lawmakers to impose strict regulations. The American Gaming Association and the Inter-Tribal Council of the Five Civilized Tribes have urged Congress and the Commodity Futures Trading Commission to curb platforms that offer sports betting contracts nationwide. Industry leaders argue these platforms operate outside established state and tribal legal frameworks, threatening tribal sovereignty and draining state tax revenues across the country. Testifying before a Senate Agriculture subcommittee, Christopher Cylke of the American Gaming Association stated that platforms such as Kalshi and Polymarket use federal…

The landscape of World Cup betting shifted dramatically during the 2026 tournament as prediction markets captured 27% of all legal sports gambling volume in the United States. Driven by platforms such as Kalshi and Polymarket, event-based trading exchanges saw unprecedented growth, challenging traditional sportsbooks that previously dominated the sector. According to figures from H2 Gambling Capital, prediction markets expanded their share of soccer gambling activity from roughly 9% at the start of the year to 27% of total volume by the conclusion of the final match between Spain and Argentina. The overall rise in World Cup betting was anchored by…

A potential Las Vegas NBA expansion franchise remains highly anticipated, but the league held no vote during its latest meetings. Speaking to reporters after the meetings in July 2026, NBA Commissioner Adam Silver expressed strong optimism about bringing a team to Southern Nevada. Although no official ballot was cast this week, Silver highlighted the league’s deep relationship with the city. This connection is underscored by the high-profile Las Vegas NBA Summer League, which has been hosted in the market since 2004. Silver noted that intense interest from potential ownership groups is encouraging, and he expects a clear resolution by the…