5204 stories by Todd Shriber
Penn iGaming App Tagged with Patent Infringement Lawsuit
Regional casino operator and its digital unit were hit with suit. Single Action Bet Tech says gaming company infringed on two of its patents. Plaintiff provides tech that makes betting actions more efficient. Penn Entertainment’s (NASDAQ: PENN) Hollywood Casino mobile application is...
Prediction Markets Search for Growth Outside Sports Contracts
By some estimates, sports event contracts account for 75% to 80% of prediction market volume. Some say it’s higher than that. One research firm says that percentage could significantly decline over the long-term. Though they claim to not be in the business...
Coinbase Poised to Partner with Kalshi on Prediction Markets
Two companies already have a relationship. Coinbase expected to reveal prediction market plans next week. Partnership could be similar to Kalshi/Robinhood. When it launches it prediction markets platform, which could occur imminently, Coinbase Global (NASDAQ: COIN) appears likely to partner with Kalshi....
Coinbase Could Reveal Prediction Market Plans Next Week
Crypto brokerage giant has expressed interest in prediction markets, been tied to related speculation. Company could unveil plans next week. It’d add another crypto player to the prediction markets industry. Coinbase Global (NASDAQ: COIN), the largest cryptocurrency brokerage house, is a long-awaited...
Crypto.com, Kalshi Form Prediction Markets Coalition
The Coalition for Prediction Markets (CPM) seeks preservation of transparent, federally regulated prediction market operations. Other members are Coinbase, Robinhood, and Underdog. Crypto.com and Kalshi said Thursday that they've formed the Coalition for Prediction Markets (CPM), an organization aimed at fostering “safe,...
Winklevoss Twins’ Gemini Lands Prediction Markets Approval
Gemini Space Station, the brothers’ cryptocurrency exchange, wins prediction markets approval from CFTC Company’s event contracts push was revealed last month Approval brings another crypto-centric player to the fast-growing industry Gemini Space Station (NASDAQ: GEMI), the digital currency exchange controlled by Cameron...
Sports Betting Taxes Boons for State Coffers, Says Census Bureau
Sports betting tax revenue more than quadrupled since 2021 It’s approaching $1 billion on a national level In New York, taxes on sports betting account for nearly 1% of all taxes collected Online sports betting generates plenty of criticism, but it’s been...
Kalshi Cases Likely Heading to SCOTUS, the Question is When
Kalshi and other prediction markets are engaged in legal battles with multiple states Lawyer believes resolution via SCOTUS is the likely outcome It could be several years before the high court hears the case Kalshi, Robinhood Markets (NASDAQ: HOOD), and other participants...
Fox Not Looking to Get Into Sports Betting, Says CFO Tomsic
FOX Bet was shuttered in 2023 Media company has option to acquire 18.6% of FanDuel It also owns $900 million worth of Flutter Entertainment equity Fox Corporation (NASDAQ: FOX) is one of the biggest names in US sports broadcasting and streaming, but...
Bally’s to Sell Rhode Island Casino Property in Q1 After Landing $1.1B in Financing
Sale of Twin River Lincoln Casino real estate expected in Q1 after Bally’s lands new financing Private credit firms lending casino operator $1.1 billion Some of the proceeds could be used for New York casino project Earlier today, Bally’s announced it amended...
