FanDuel and DraftKings are making a major shift in strategy: they are stepping away from Nevada’s regulated sportsbook market in order to focus on prediction markets under federal oversight. The Nevada Gaming Control Board has confirmed that FanDuel surrendered its gaming licenses, and DraftKings withdrew its pending sportsbook applications. The core of the conflict lies in “sports event contracts,” or prediction-market products. Nevada regulators regard these as incompatible with the state’s traditional gaming model, while FanDuel and DraftKings argue that these contracts should fall under the jurisdiction of the Commodity Futures Trading Commission instead of state gaming boards. FanDuel is…

The partnership between Penn Entertainment and ESPN Bet will end nearly eight years ahead of schedule, marking a major shift in the U.S. sports betting landscape. Originally launched in late 2023 as a 10-year, $1.5 billion agreement, ESPN Bet was intended to combine ESPN’s massive sports media reach with Penn’s gaming expertise. The collaboration struggled to meet expectations, capturing only around three percent of the national betting market, far below its initial targets. Penn announced that the partnership will conclude on December 1, 2025. The decision was described as mutual and amicable. Following the split, Penn will rebrand its sportsbook…

In a move that underscores the growing integration of sports betting and mainstream media, DraftKings has struck a multi-year advertising agreement with NBCUniversal. The deal gives the gambling operator exclusive integration and sponsorship rights across NBCUniversal’s sports media assets. Under the agreement, DraftKings will be visible on linear, digital, and streaming platforms tied to marquee events and leagues, including NFL, NBA, PGA TOUR, Ryder Cup, WNBA, NCAA football and basketball, and the 2026 FIFA Men’s World Cup as carried on Telemundo. The partnership also grants DraftKings exclusive sponsorship access to categories such as online sports betting, daily fantasy sports, online…

DraftKings is no longer accepting credit card deposits on its sportsbook and online casino platforms across the United States. The new policy went into effect August 25. The company announced that customers will instead need to fund their accounts using alternatives such as debit cards, bank transfers, wire transfers, or digital payment options including PayPal, Venmo, and Apple Pay, where available. Any credit cards previously stored in user accounts will automatically be disabled. According to DraftKings, the move is designed to improve the customer experience and eliminate issues tied to credit card use, such as cash advance fees and high…

It was 2017 when DraftKings & FanDuel attempted to merge into one, big, happy family. However, it did not take long for that move to be called off, as the Federal Trade Commission (along with a couple of attorneys general) said they would sue to block any merger. The combined companies would have controlled 90%  of the market for daily fantasy sports, which authorities say would have violated antitrust law. Now, two U.S. senators have called for the FTC and the Justice Department to take another look, and to open an  investigation into DraftKings & FanDuel over a similar accusation….

Ten years ago, sports leagues hated gambling. Five years ago, leagues embraced gambling Now, DraftKings and FanDuel are being sued by one of the leagues players union. Strange days indeed, as John Lennon once wrote. So what’s the issue? As is the case so many times it all boils down to money. Not so peculiar, mama. Major League Baseball’s players union filed a lawsuit in federal and state courts, accusing both DraftKings and FanDuel of using images of nearly all active MLB players on their websites and mobile apps without obtaining permission. The players are seeking both compensatory and punitive…