5590 stories by Todd Shriber
Study: Americans Traded Up to $34B on Banned Offshore Prediction Markets
The Coalition for Prediction Markets (CPM) estimates that U.S. residents have traded up to $34 billion on illegal, unregulated offshore platforms Group estimates that figure could quadruple by 2030 Polymarket accounts for the bulk of that volume The Coalition for Prediction Markets...
New Jersey to Scrutinize Fertitta’s $17.6 Billion Caesars Bid
New Jersey regulators have already pledged to review the proposed acquisition Other state regulators are likely to follow suit The combined company would control four Atlantic City casinos New Jersey regulators have pledged to examine Tilman Fertitta’s proposed $17.6 billion acquisition of...
CFTC Takes Aim at Event Contracts Linked to Terrorism, War
First proposed CFTC rule aimed specifically at prediction markets 45-day public comment period will follow publication of the proposal Trump has pledged to implement broader prediction-market regulations In its first proposed rule aimed specifically at the fast-growing prediction markets industry, the Commodity...
FanDuel Predicts Expands Event Contracts Through Crypto.com Deal
Through a partnership with Crypto.com, FanDuel Predicts is expanding its event contract offering Deal includes addition of entertainment and sports event contracts Partnership will run through Crypto.com’s OG Prediction Markets FanDuel Predicts, the prediction-market arm of online sportsbook operator FanDuel, is expanding...
Tax Policy Center: Prediction Markets Could Ding State Wagering Revenue
Prediction markets are pulling bettors away from traditional gaming, threatening state tax revenue Highly exposed sports-betting states face the sharpest potential budget deficits Lawmakers are already shifting policy, with state-level prediction market taxes gaining momentum As cash-strapped states search for new revenue,...
DraftKings Shares Surge as May Prediction Market Volume Jumps
DraftKings said its prediction market volume surged 24% month-over-month in May On an annualized basis, that’s a 34% increase Investors liked the news, sending the stock higher Shares of DraftKings (NASDAQ: DKNG) rallied on Tuesday (June 9) after the company announced that...
Report: Flutter’s FanDuel Lays Off ‘Several Hundred’ Employees
An internal company email explicitly confirms the staff reductions The headcount cuts arrive just a month after the departure of FanDuel CEO Amy Howe and are reportedly the third such cuts in less than a year Parent company Flutter’s shares have plunged...
Pansy Ho Sells $140M in MGM Shares, Liquidating Stake in U.S. Parent’s Casino Stock
Ho remains the chairperson and a core shareholder of Macau casino operator MGM China Holdings Ltd The $140 million sale concludes a multi-year wind-down of her personal position in the U.S. corporate parent The final share disposal occurred right as MGM Resorts...
EDGE Markets Secures $29.2M Series A to Launch Prediction Market Banking Rails
The New York-based alternative fintech firm secured a $29.2 million Series A funding round led by prominent venture firm CoinFund The capital will fund the rollout of real-time deposit and payment rails designed specifically for institutional market makers on CFTC-regulated prediction exchanges...
Rush Street Interactive Set to Join S&P SmallCap 600 Index
The gaming stock is joining the widely followed small-cap gauge The stock more than doubled over the past year It’s actually a mid-cap stock as its market value is $6.08 billion Shares of Rush Street Interactive (NYSE: RSI) rallied in after-hours trading...
