The Weekender: Tax Rates, Prediction Markets, and iCasino's Struggles
This Week on STTP: States tweak sports betting taxes, Kalshi faces criticism, online casino legislation falters, and Congress's new interest in gambling.
The Bulletin Board
ABOVE the FOLD: The week’s top stories from Straight to the Point.
HOUSEKEEPING: Podcasts, featured articles, and more from yours truly.
NEWSLETTER ROUNDUP: The best of the best from industry newsletters.
Above the Fold: The Week’s Top Stories on STTP
[MONDAY]: States are choosing to tweak sports betting tax rates to balance budgets, while rejecting the legalization of online casinos.
[TUESDAY]: Kalshi's entry into sports markets has drawn criticism, but it's hoping its newly announced integrity and responsible gambling tools will quell concerns.
[WEDNESDAY]: Unlike sports betting, online casinos have run into a mountain of opposition due to cultural, economic, and legal challenges, plus a lack of unified support.
[THURSDAY]: Gambling industry beware: Federal intervention is gaining traction. From CFTC rulings and bills like the SAFE Bet and PROTECT Act looming, the landscape is shifting.
Housekeeping
[FRIDAY FEATURE]: The CFTC's upcoming roundtable on prediction markets will tackle the contentious sports contracts debate, with experts weighing legal, regulatory, and industry impacts.
Risky Business
All eyes are on the Commodity Futures Trading Commission (CFTC) as it prepares to issue a monumental decision on what prediction markets can and can’t offer. We’ve heard from Kalshi and other stakeholders, as well as plenty of organizations and industry experts on both sides (there are currently
[PODCAST]: Author Jonathan Cohen discusses the downsides of the PASPA as lawmakers and the public grapple with a booming sports betting industry.
Episode 46: The Pros and Cons of Legal Sports Betting with Jonathan Cohen
“The thesis of the book is that sports betting should be legal, but it was rolled out in a way that was heedless of... some of these negative externalities… it could have been safer. It still could be safer, whether through government regulation or self-regulation by the industry itself.”
More from Me
The latest installment of the Ruddock Report, my monthly look at the legislative landscape in the US, is out over at Casino Reports.
I provided some analysis for a Mass Live article on Massachusetts Secretary of State Bill Galvin launching an investigation into sports prediction markets.
I was also asked to provide some color on a restrictive MA sports betting bill for Mike Mutnansky’s terrific gambling newsletter (Mut churns out a lot of horse racing content, too), MutStack.
This Week in Gambling Newsletters
Why hire Steve Ruddock? Over the years, Steve has advised startups, national gambling companies, government agencies, and investment banks on a wide variety of topics.
Whether you’re looking for market research, want to raise your brand awareness, or are trying to develop responsible gaming strategies, Steve can help with honest, balanced, no-nonsense analysis of the situation.
Steve’s unique experience and insights are often the missing piece to the puzzle.
Reach out for more information: Straight to the Point Consulting.
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