5448 stories by Todd Shriber
5% Federal Sports Betting Tax Could Raise Nearly $100B, Says Policy Group
The federal tax on sports wagering is just 0.25% today If it was raised to 5%, it’d generate $97 billion in revenue over a decade At 5%, it’d be the fifth-largest federal excise tax Plenty of states aren’t shy about raising sports...
Kalshi Facing Temporary Nevada Ban Following Court Ruling
Nevada court issues 14-day temporary restraining order against Kalshi The order bars from Kalshi from offering entertainment, political and sports event contracts in the state It’s the first time a state has forced a prediction market to halt operations The First Judicial...
Regional Casino Consumers Proving Resilient as Gas Prices Surge, Says Analyst
Even consumers on the low end are showing strength Analyst likes Churchill Downs, Penn Entertainment The national average gas price is $3.91 per gallon, according to AAA The conflict in Iran sent the national average gas price to $3.91 a gallon today,...
BetMGM ‘Optionality’ Could Be Imminent for Entain, Says Analyst
Entain could be ready to make a decision on the fate of its 50% interest in BetMGM Jefferies analyst says BetMGM “standalone capability” could emerge as soon as Q2 That would provide Entain with flexibility The time for Entain Plc (OTC: GMVHY)...
Kalshi Raises $1 Billion, Sends Valuation Soaring to $22 Billion
Kalshi reportedly raised $1 billion That doubles the prediction market operator’s valuation to $22 billion That doubling occurred in less than four months Kalshi has reportedly procured $1 billion in fresh capital, sending its valuation soaring to $22 billion, or double what...
Kalshi Traders See 80% Chance Caesars Is Acquired This Year
Kalshi traders broadly expect Caesars will be taken over in 2026 The event contract is currently 80% in the “yes” camp, but that’s off the high of 91% Takeover chatter pertaining to the casino giant has been quiet this week Traders on...
Super Group Stock Has Potential Upside of Nearly 51%, Says Analyst
The once-hot stock has been in a funk this year Super Group could benefit from the World Cup Analyst says markets don’t fully comprehend the Africa opportunity set Super Group (NYSE: SGHC) stock has the makings of a rebound candidate with the...
61% of Americans Say Prediction Markets Are Gambling
That’s nearly 8x the amount that view event contracts as investing 41% use prediction markets to make money Young men are nearly twice as likely to participate in sports betting and prediction markets as the general public Prediction markets are attempting to...
Fitch Affirms MGM Credit Grade of BB-, Three Notches Into Junk Territory
The ratings agency continues to rate the casino giant non-investment grade Fitch applies a “stable” outlook to MGM rating Fitch says headwinds remain in Las Vegas MGM Resorts International’s (NYSE: MGM) credit rating was affirmed at BB- with a “stable” outlook today...
Kalshi Hit With Criminal Charges in Arizona, State Says Company Is Operating Illegal Betting
Kalshi sued Arizona last week, state fired back today In a 20-count criminal complaint, the state says Kalshi is operating an illegal wagering platform State also criticized Kalshi for offering election event contracts In a wide-ranging 20-count criminal complaint, the state of...
