The Weekender: Legal Battles and Market Dynamics (Re)Shape Gambling
Lawsuits target sportsbooks, states, and lotteries. NJ poll shows public apathy to online gambling. The latest Kalshi news. Ontario leads regulated gambling.
The Bulletin Board
ABOVE the FOLD: The week’s top stories from Straight to the Point.
NEWSLETTER ROUNDUP: The best of the best from industry newsletters.
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Above the Fold: The Week’s Top Stories on STTP
[MONDAY]: A lawsuit bonanza: Kalshi vs. states, Baltimore vs. DraftKings/FanDuel, DC vs. PASPA, PA vs. DraftKings' promos, Florida compact dispute, and Lotto.com vs Texas Lottery.
[TUESDAY]: A New Jersey poll indicates the public isn't going to lose any sleep if online gambling operators face steeper financial burdens.
[WEDNESDAY]: Are prediction markets reliant on sports? That's a reasonable question, considering 75% of Kalshi's trading volume over the weekend occurred in its sports markets.
[THURSDAY]: Ontario is the top-performing regulated online gambling market in North America over the first three years, besting New Jersey, Michigan, and Pennsylvania.
[FRIDAY FEATURE]: Sporttrade’s CFTC petition highlights a broken regulatory system, where gaming licenses burden operators, acting as an albatross instead of an asset.
Short Term Gain; Long Term Pain
The big news of the week was Sporttrade’s decision (first reported by Sportico) to petition the Commodity Futures Trading Commission (CFTC) “with a letter asking permission to offer its product nationwide so it can avoid the ‘irreparable harm’ of a competitive disadvantage.”
[PODCAST]: In this episode of the Talking Shop podcast, I had the privilege of talking to Jeremy Kudon, partner at Orrick Public Policy Group and president of the Sports Betting Alliance — Jeremy doesn’t do many podcasts, so I was incredibly excited when he agreed, and the discussion doesn’t disappoint.
Episode 50: The Gambling Legislation Playbook with Jeremy Kudon
"I’m a big believer that the failures are what lead to the greatest successes… When you do hit five states in one year, everybody the next year all of a sudden has a little more pep in their step." ~ Jeremy Kudon
