Polymarket banner outside the New York Stock Exchange on Oct. 7th, 2025. Kevin Stankiewicz | CNBC Prediction markets are booming, with monthly trading in the billions and a recent estimate from a consulting firm saying that the relatively new phenomenon could grow to $1 trillion by the end of the decade. That’s a lot of…
Sports merchandiser Fanatics announced Wednesday it’s launching Fanatics Markets, its own prediction market, in 24 states this week, including California, Texas, Florida and Washington. The platform will allow people to trade on events in sports, finance and culture, according to Fanatics, and will launch in segments across the country over the next several days. The…
FanDuel and DraftKings on Tuesday said they are quitting the American Gaming Association, the leading trade organization representing casinos, gaming manufacturers and sportsbooks. In separate announcements, the companies said they were abandoning their AGA memberships because the direction of online betting — increasingly tied to booming prediction markets — does not align with the trade…
Mark Cunningham | Getty Images Sport | Getty Images Two pitchers from the Cleveland Guardians were indicted by federal prosecutors on charges related to a sports betting and money laundering conspiracy on Sunday, the latest scandal tied to gambling across professional sports. According to the indictment, Guardians pitchers Emmanuel Clase and Luis Ortiz took bribes…
Portland Trail Blazers head coach Chauncey Billups and Terry Rozier #2 of the Miami Heat. Lachlan Cunningham | Getty Images The National Basketball Association told its 30 teams on Monday that it was instituting a broad review of betting-related issues to “protect the integrity of the NBA and our affiliated leagues” in the wake of…
Rozier, a 10-year NBA veteran, reportedly had been eyed for months over suspicious sports betting activity related to his play. The U.S. Attorney’s Office in Brooklyn, New York, and FBI Director Kash Patel are scheduled to hold a press conference on the cases on Thursday morning. Billups was named NBA Finals Most Valuable Player in…
The Kalshi logo arranged on a laptop in New York, US, on Monday, Feb. 10, 2025. Gabby Jones | Bloomberg | Getty Images Close to half of Kalshi’s user base experienced glitches and delays on Saturday during college football games, a major source of trades, as some said they were temporarily unable to process orders….
DeMar DeRozan #10 of the Sacramento Kings is defended by Jose Alvarado #15 of the New Orleans Pelicans during the second half of a game at the Smoothie King Center on February 12, 2025 in New Orleans, Louisiana. Derick E. Hingle | Getty Images Basketball fans watching on Prime Video this season will be able…
The college football season has kicked off, and the NFL’s regular season begins next week, which means sportsbooks are getting ready for the biggest opportunity of the year to sign up new customers and grow the wagering pot. Americans are expected to wager a record $30 billion this NFL season through legal gambling, an 8.5%…
Richard Kim, a former Goldman Sachs and JPMorgan Chase executive, was indicted on securities and wire fraud charges related to his alleged misappropriation of about $4 million in investor funds for his start-up online casino company, most of which he allegedly lost within a week through gambling on another site, prosecutors said Wednesday. Investors who…
