Minnesota lawmakers from both parties are moving ahead with a bill that would outlaw most forms of betting on prediction markets, adding steep criminal penalties for companies and individuals tied to the fast-growing space.

Originally filed on March 17, Senate Bill 4511 targets platforms where people stake money on future outcomes. Sen. John Marty, DFL-Roseville, is leading the push, and the proposal has already cleared its first committee stop this month with more hearings on the way.

The bill describes a “prediction market” as “a system that allows consumers to place a wager on the future outcome of a specified event that is not determined or affected by the performance of the parties to the contract.”

The list spans sports and esports contests, elections, court rulings, and weather, along with major public developments such as “war, state or national emergencies, natural or human-made disasters, mass shootings, acts of terrorism, or public health crises.”

Sen. Marty framed the bill as a clarification of existing law, writing on Bluesky: “Prediction markets are used for illegal gambling in MN. I’m pleased my legislation, SF 4511, to clarify that this is illegal, passed the Senate Judiciary Comm. with strong bipartisan support last week!”

What the Minnesota prediction market bill would do

The proposal would make it a felony to operate or support a prediction market in Minnesota. Anyone who “create[s] a prediction market” or “operate[s], manage[s], or make[s] available a platform or system that allows consumers to make wagers” could face criminal charges.

The measure also reaches into nearly every layer of the industry, banning activities like setting odds, handling funds, listing events, supplying settlement data, or promoting these platforms through advertising.

At the same time, lawmakers preserve existing carveouts. The bill reiterates that certain activities “are not bets,” including the state lottery, licensed charitable gambling, pari-mutuel horse racing wagers, and some informal social betting.

Regulators would also gain stronger enforcement tools. The state’s director of alcohol and gambling enforcement could issue cease-and-desist orders against suspected violations. If recipients ignore those orders or continue processing payments tied to banned activity, they could face felony charges.

The North Star State’s effort comes as other states and federal regulators grapple with similar questions. Tennessee lawmakers recently advanced a bill targeting manipulation in prediction markets with felony penalties, while Kentucky is weighing gambling changes that include rules affecting sports-related prediction platforms and raising the betting age to 21.

At the federal level, legal fights involving the Commodity Futures Trading Commission could eventually reach the Supreme Court.

The Minnesota bill, backed by four Democrats and one Republican, would take effect Aug. 1, 2026, if approved, applying to offenses committed on or after that date.

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Tennessee lawmakers are pushing ahead with legislation that would make it a felony to try to sway the outcome of events tied to prediction market conduct when money is on the line.

The state Senate signed off on Senate Bill 1992 on Thursday (April 9), backing the proposal 28-1 after first adopting an amendment earlier in the day. The measure mirrors House Bill 2079 and now moves forward as part of a wider effort to regulate emerging online trading platforms built around future events.

The bill creates a new criminal charge aimed at people who attempt to influence outcomes while financially invested in them through prediction market contracts.

New criminal offense targets prediction market conduct in Tennessee

Under the proposal, someone would break the law if they take steps to affect the result of an event while they, or someone working with them, holds a position in a related prediction market. The key issue is financial benefit, whether direct or indirect.

The bill states that a person violates the law by taking such action “while the person or another is a party to a contract with a prediction-market by which the person will benefit, directly or indirectly, from the occurrence of the outcome.”

If convicted, the offense would be treated as a Class E felony in Tennessee.

Lawmakers also lay out a general definition of prediction markets, describing them as “a platform on which individuals trade contracts based on the outcome of unknown future events.” This leaves the law open to covering everything from political outcomes to sports and other speculative markets.

The push comes as the Volunteer State is already locked in legal disputes with several prediction market operators. The state previously issued cease-and-desist letters to companies including Kalshi, Polymarket, and Crypto.com, arguing their offerings violated state law.

It has faced resistance in court. A federal judge recently blocked Tennessee from enforcing restrictions against Kalshi’s sports-related contracts, and the company also secured a temporary restraining order against the state’s actions. The rulings have added uncertainty around how far Tennessee can go in policing these platforms.

Even so, the new legislation takes a different angle by focusing on individual behavior rather than platform legality. By placing the offense within Title 39, which covers property-related crimes, lawmakers are framing manipulation tied to financial gain as a form of economic wrongdoing.

If it ultimately becomes law, the measure would take effect July 1, 2026.

Featured image: Kenneth C. Zirkel via WikiCommons / CC BY-SA 4.0

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Wisconsin Gov. Tony Evers has signed a new law that could reshape how sports betting works across the state, especially for tribal nations looking to expand into mobile wagering.

The measure, Assembly Bill 601, became law on Thursday (April 9) and sets up a framework that allows bets placed on phones anywhere in Wisconsin to be treated as legal, as long as those wagers are routed through servers located on tribal land. The activity must still operate under existing tribal-state gaming compacts, which have governed casino gaming for decades.

Evers framed the change as a potential economic boost for tribes that have not yet been able to fully participate in mobile betting. “This bill means a broader collection of Tribal Nations in Wisconsin could reap the benefits of increased gaming revenues,” Evers wrote. He added that mobile sports wagering presents “an opportunity to help level the playing field to ensure every Tribal Nation in Wisconsin can benefit from the increased revenues.”

The legislation builds on earlier efforts in the state Assembly to expand tribal access to mobile betting, where lawmakers advanced proposals aimed at modernizing Wisconsin’s approach to online wagering while keeping control tied to tribal sovereignty.

Evers shares concerns about equity and implementation of tribal mobile betting bill in Wisconsin

Even as he approved the bill, Evers made clear he is watching closely how it unfolds. He warned that simply legalizing broader access is not enough if the structure ends up favoring a handful of tribes over others.

“This legislation is the beginning of a conversation, not the end of one. The real work begins today,” he wrote. “What I will not accept is a plan that fractures this opportunity into unequal pieces, allowing some Tribes to reap great benefits while leaving only crumbs for others.”

State officials and tribal leaders have been discussing how a statewide mobile system might work in practice. Some proposals include shared platforms that would allow multiple tribes to participate more evenly, rather than competing individually in a fragmented market.

“A joint venture—with each Tribe contributing, and each Tribe benefiting in equal shares—is gaining traction in these discussions, and I strongly support pursuing this or a similar model,” Evers wrote.

The governor also pointed to wider social impacts tied to gaming revenue. He said additional funds could help support mental health services and strengthen efforts to address the opioid crisis, issues that many tribal communities continue to face.

At the same time, he stated that financial gains should not overshadow core values. “It is further my expectation that we look beyond mere dollar signs and economics and insist these decisions also be guided by respect, humility, compassion, and solidarity,” he said.

The debate over online sports betting regulation in Wisconsin is still evolving, with questions remaining about oversight, revenue sharing, and long-term market structure.

Evers added a reminder of what’s at stake. “I am signing Act 24 7 because my obligation as governor is always to respect the sovereignty of Tribal Nations in Wisconsin,” he wrote. He added a final warning: “Wisconsin cannot afford to continue to leave any Tribal Nation behind.”

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“It’s not a slam dunk at all.” 

A blunt assessment from former Commodity Futures Trading Commission Special Counsel Peter Sanchez Guarda cuts through the noise around an intensifying legal fight that could redraw the line between finance and gambling in the United States.

Guarda, who now runs Peter Sanchez Guarda Consulting and Turnkey Family Office, points to a moment of real uncertainty as federal agencies take the unusual step of suing several states, including Arizona, Connecticut, and Illinois.

He describes an environment shaped by a business-friendly federal posture toward emerging financial models. “The current administration has signaled that it is very pro-business and wants to make it as easy as possible for these new fintech business models such as prediction markets and crypto to operate,” Guarda said. He also noted the unusual makeup of the regulator itself. “The CFTC has only one person on the five-member commission now, so it’s easier for him to enact his agenda if there is no chance of being outvoted.”

Federal regulators CFTC and DOJ supports prediction markets in fight against states

The lawsuits come after states escalated enforcement against platforms like Kalshi, issuing cease-and-desist orders and, in Arizona, pursuing criminal charges tied to sports-event contracts. There appears to be a fundamental disagreement as states argue these products amount to illegal gambling, while federal regulators insist they are legitimate derivatives governed under federal law, and therefore beyond the reach of state gaming regimes.

Rather than leaving companies to fight those battles alone, the federal government has stepped in directly. “In the past when the CFTC has asserted its jurisdiction in squabbles with other regulators like the Securities and Exchange Commission, it has not done so directly,” Guarda said. “This strategy of suing directly is unprecedented.”

The shift is thought to be tactical. “By suing directly the CFTC has moved the battleground from state court to federal court,” he explained, adding that it could strengthen the position of prediction market operators facing criminal exposure. They may argue “that they thought that they were operating legally because they went through the process to obtain a license and were relying on the opinion of the CFTC.”

Courts divided as legal questions deepen

A federal judge recently allowed Arizona’s case against Kalshi to proceed, denying a preliminary injunction and drawing attention to the fact that courts are not uniformly siding with the industry. Across the country, more than a dozen similar disputes are unfolding, with different jurisdictions reaching different conclusions, raising the prospect of a fractured legal landscape.

The question is whether federal law overrides state gambling regimes, but even here, the legal footing is shaky. “It’s not a slam dunk at all,” Guarda said. The Commodity Exchange Act (CEA) gives the CFTC “exclusive jurisdiction” over certain products, but only if they qualify as commodities—a point that remains contested.

“Even from the beginning, there has been disagreement by CFTC commissioners… regarding whether event contracts are commodities,” he noted. That uncertainty raises broader questions about the limits of federal oversight. “If anything… could be traded on CFTC exchanges with exclusive jurisdiction, then could you argue that you can buy or sell real estate, oil paintings, used cars?” he said. “If those aren’t allowed because they aren’t a commodity, then sports betting isn’t either if the courts determine they are not commodities.”

CFTC prediction markets lawsuits shows path toward the Supreme Court

The litigation strategy itself appears designed to force a decisive ruling. “The industry is eager to set up a Supreme Court showdown,” Guarda said, pointing to cases being spread across multiple jurisdictions to increase the odds of conflicting appellate decisions, which are often a trigger for review by the Supreme Court of the United States.

There is also a geographical logic to the cases. “It looks like they were carefully chosen,” he said, stating how Arizona, Connecticut, and Illinois map onto influential federal circuits tied to major financial centres, while also offering procedural advantages for getting cases heard.

The push comes as the CFTC itself faces scrutiny. Lawmakers have questioned staffing cuts at the agency, particularly in Chicago, even as it takes on a growing number of complex cases. At the same time, recent agency guidance appears to show a more pragmatic, permissive approach to sports prediction markets, as Guarda states, suggesting regulators are increasingly focused on shaping, rather than shutting down, the sector.

Even if the Supreme Court of the United States ultimately intervenes, the outcome may be narrower than expected. “If it’s a win for the prediction markets it’s unlikely to preempt state gambling regulations,” he said. Instead, any ruling would likely be “narrowly framed for ‘event contracts’ on CFTC regulated exchanges.”

For now, regulators, states, and industry players remain locked in a high-stakes fight over who controls the future of prediction markets and how far financial markets can stretch into the territory of betting. As Guarda put it: “Perhaps a team making it to the playoffs would be an allowable wager because it could affect hotel occupancy rates… But maybe betting on who makes the first scoring shot in a basketball game would not, because there is no business risk that would be hedged.”

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Two western Pennsylvania amusement businesses have admitted to felony corrupt organizations charges in a case involving hundreds of illegal video gambling machines, Attorney General Dave Sunday announced.

Buffalo Skills Games, Inc. and J.J. Amusement, Inc. will shut down as part of the plea deal and give up $5 million in assets. Investigators also pulled nearly 400 illegal machines from more than 60 sites spread across multiple counties, the attorney general’s office said. The devices were found in everyday locations like bars, gas stations and convenience stores throughout Allegheny, Beaver, Butler, Cambria, Crawford, Indiana, Somerset, Venango, Erie, Washington, Armstrong and Westmoreland counties.

”This resolution secures a multimillion-dollar forfeiture for the Commonwealth, while assuring the companies will cease to exist,” Sunday said. “I commend our partners at the Pennsylvania State Police for helping disband a large-scale operation that involved slot machines essentially dressed up as skill games.”

Authorities first outlined the case publicly in May 2025, when they revealed the seizure of more than 400 machines and filed felony charges against the two companies. Prosecutors said at the time that both businesses were owned and run by John F. Conley, who has prior federal convictions tied to illegal gambling.

Background to the Pennsylvania illegal amusement firm operation

The connection to Conley allegedly traces back decades. In a 1996 decision, the U.S. Court of Appeals for the Third Circuit described him as the driving force behind what it called the largest video poker gambling operation in the Pittsburgh region. At its peak, the court said, the business stretched across hundreds of locations and relied on thousands of machines, bringing in millions of dollars.

Court records outlined how the operation worked. Machines equipped for gambling were placed in bars and similar establishments, with profits split between the business and location owners. Employees handled everything from recruiting sites to maintaining the machines and collecting cash.

Between 1985 and 1990, more than $10 million flowed into bank accounts tied to Conley or his workers, according to the ruling. The court estimated that roughly 93% to 94% of that money came directly from video poker gambling activity.

The opinion also detailed how Conley continued operating even after a 1988 conviction in Allegheny County for violating state gambling laws. As pressure from law enforcement mounted, the business structure shifted. Ownership of machines was moved into newly created companies, and nominal owners were installed while control remained centralized.

Sunday said the current case centers on illegal chance-based machines rather than legal skill games.

“Illegal gambling operations are not victimless crimes,” Sunday added. “They can fuel criminal enterprises, exploit individuals addicted to gambling, and rip off consumers with games that are not regulated, provide little or no chance of winning, and do not comply with gambling self-exclusion lists intended to protect those struggling with addiction.”

The attorney general’s Gaming Enforcement Section handled the prosecution.

Featured image: Pennsylvania Attorney General

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Canada’s top court is stepping into a case that could reshape how online gambling works across the country, with provinces, regulators and global operators all lining up to weigh in. New filings and the court’s own docket show Loto-Québec is now formally part of the appeal, joining other provincial lottery bodies pushing back against Ontario’s plan to open its system beyond national borders.

The case surrounds the proposed model that would let people in Ontario play and place bets with users outside Canada. Filed under Supreme Court docket number 42141, Ontario asked the courts in 2024 to rule on whether its idea would be legal before fully rolling it out.

This makes this a constitutional reference, where judges are asked to assess a hypothetical framework rather than rule on past conduct. As one submission puts it, the reference “necessarily posed a hypothetical question… and the hypothetical facts must be accepted” .

Who is fighting in Ontario gambling case and why it matters

What started as a legal question from Ontario has quickly turned into a national battle. Provincial lottery corporations from across the country are now opposing Ontario’s position, including the Atlantic Lottery Corporation, the British Columbia Lottery Corporation, Manitoba Liquor and Lotteries Corporation and Loto-Québec, all listed as active appellants in the Supreme Court case.

Ontario’s side is led by its attorney general, backed by a mix of industry and Indigenous interveners. The Canadian Gaming Association, Flutter Entertainment plc and NSUS Group Inc. and NSUS Limited are all participating, along with the Mohawk Council of Kahnawà:ke. Alberta’s attorney general is also seeking to intervene, with that request still pending before the court.

The court is being asked whether Ontario can allow its residents to take part in online games and betting pools that include players outside Canada, while still complying with the Criminal Code.

In 2025, a majority of the Ontario Court of Appeal ruled that the model would be lawful, finding that the province could still meet its obligations under federal law even if players abroad were involved. The Supreme Court will now take the final word.

How Ontario’s proposed model would work

Ontario’s plan is built around the idea that bigger player pools make online gambling more viable. In games like poker, where players compete against each other, having more participants means more tables, larger prize pools and more consistent activity.

Court filings state that by connecting with international players, Ontario would expand what the industry calls “liquidity,” increasing both participation and available betting funds. According to submissions, that could “generate greater interest in the games offered in Ontario’s regulated market, and increase revenue for the province.”

Under the proposed system, Ontario would still control what happens inside its borders. The province would set the rules, enforce standards and oversee operators serving Ontario players. Participants outside Canada would join through platforms regulated in their own jurisdictions.

Supporters say that setup keeps the system legally grounded in Ontario. In their view, the province remains the “operating mind” of gaming activity within its territory, even if it connects to other systems abroad. Rather than one global gambling network, they describe a structure where separate systems interact but remain locally governed.

If Ontario is only running its own portion of the system, supporters argue, it could still “conduct and manage” gaming within the province as required under federal law.

Opponents see it very differently

Provincial lottery corporations pushing back against Ontario say the proposal crosses a clear legal line. Their argument leans on how Canadian gambling law is structured as most forms of organized betting are illegal unless they fall within specific exemptions granted to provinces.

As one submission puts it, such activity is “presumptively unlawful unless a specific statutory exemption applies,” and those exemptions, they argue, are tied to geography. In their reading, once betting involves players outside Canada, it moves beyond what provinces are allowed to regulate.

They also point to the history of Canadian gambling law. Parliament has long treated foreign lotteries with caution, partly because of the difficulty of controlling operators beyond national borders. Court materials highlight concerns that there may be “no way of controlling the operation of a foreign lottery” or enforcing its conditions.

From that perspective, Ontario’s proposal risks weakening safeguards built into the Criminal Code. Opponents argue that even if the province maintains control over its own system, linking it to international platforms creates practical and legal complications that the law was designed to avoid.

There are also disagreements about how the system would function in practice. While Ontario’s model assumes players in other Canadian provinces would be excluded, critics question how that would be enforced. Supporters counter that tools like geolocation and contractual agreements already allow operators to restrict access by location and could be extended to this model.

Ontario cross border gambling ruling that could reshape the market

Beyond the legal arguments, the case reflects a larger tension between traditional regulation and digital markets that don’t stop at borders. Online gambling has expanded exponentially in recent years, and provinces are trying to balance control, revenue and competition with offshore platforms.

For Ontario, larger player pools could make its regulated market more attractive and potentially increase returns from an industry that already generates significant public revenue. For other provinces, the concern is that opening the door to international participation could disrupt existing systems and shift how gambling is delivered across Canada. At issue is whether laws built around physical boundaries can stretch to cover systems where participation is inherently cross-border.

Featured image: D. Gordon E. Robertson via WikiCommons / CC BY-SA 3.0

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A federal judge is letting Arizona press ahead with its gambling case against a federally regulated prediction market, rejecting an urgent bid from Kalshi to halt enforcement while the broader legal fight plays out.

In an order dated Wednesday (April 8), U.S. District Judge Michael T. Liburdi pointed to the tension between fast-moving tech and slower-moving regulation, writing that “technology often sprints faster than the law can keep pace.” He denied Kalshi’s requests for both a preliminary injunction and a temporary restraining order, clearing the way for state authorities to continue their case.

Kalshi’s trading platform allows users to buy and sell contracts tied to real-world outcomes such as elections and sports results. The company operates under federal oversight as a designated contract market with the Commodity Futures Trading Commission.

State regulators in Arizona began scrutinizing the company last year, which led to a cease-and-desist letter “requir[ing] that Kalshi cease gambling operations in Arizona.” Officials argue the contracts function as illegal wagers under state law, and prosecutors have since filed criminal charges.

Kalshi, however, has taken its fight to federal court, arguing that the Commodity Exchange Act gives the CFTC “exclusive jurisdiction” over its products. From the company’s perspective, that federal authority overrides any attempt by states to treat its markets as gambling. It asked the court to step in and stop Arizona from enforcing its laws during the case.

Why the judge refused to intervene in the Arizona case against Kalshi

Judge Liburdi focused on the Anti-Injunction Act, as federal courts are generally barred from interfering with ongoing state criminal proceedings, a restriction the order describes as “an absolute prohibition” unless narrow exceptions apply.

Kalshi tried to get around this by framing its request as targeting state officials rather than the state court itself. The judge dismissed that approach, writing the law “cannot be evaded” by aiming an injunction at prosecutors instead of the court process.

He also said none of the recognized exceptions fit here. Deciding whether federal law clearly overrides state regulation would require a deeper ruling on the merits, which the court has not yet made. He noted, too, that the federal government, despite backing related litigation over prediction markets, has not sought the same immediate relief in this case.

The decision leaves Arizona’s criminal case intact, with proceedings already underway in state court and an arraignment scheduled for April 13.

Beyond Arizona, the clash reflects a growing national fight over prediction markets. Kalshi has scored some support in other courts and drawn backing from federal agencies, while states and tribal groups continue to argue these products resemble unlicensed gambling. There are also lawsuits involving the CFTC and Department of Justice.

As the judge put it, the issue is whether the Commodity Exchange Act “protects modern prediction markets or if they are unlawful under Arizona’s gambling laws.” That answer will come later. 

Featured image: Kalshi / Canva

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Missouri’s largest supplier of electronic gambling machines is shutting down operations across the state, a move officials say marks a turning point in a widening crackdown on illegal gaming.

Attorney General Catherine Hanaway said in a press release that Torch Electronics will stop running its machines beginning Friday, April 10, 2026, following coordination with federal prosecutors. State officials have long pointed to the company as the biggest distributor of unlawful gambling devices in Missouri.

The shutdown follows a joint investigation involving both U.S. Attorney’s Offices in Missouri and the attorney general’s office, indicating a coordinated push to rein in machines that have spread through gas stations, convenience stores, and other retail spots.

“I am pleased to announce Torch Electronics has suspended all operations involving illegal gambling devices, effective this Friday, as a result of a coordinated investigation by my office and the U.S. Attorneys,” Hanaway said. “Torch’s agreement to proactively halt these operations signals clearly that there has never been a gray market.”

According to the state, Torch has already alerted businesses using its machines and told them to power down by the same deadline. Those terminals, often resembling slot machines, have operated for years in a legal gray area that officials now say never truly existed.

Ongoing investigation and enforcement efforts against Torch Electronics in Missouri

State and federal authorities are treating the shutdown as a major step, but not the end of the road. Hanaway said investigators are continuing to examine other companies, store owners, and operators tied to similar devices.

“While this is a tremendous step forward for Missouri, our office will continue to investigate and seek enforcement action against other operators, manufacturers, and retail stores facilitating this illegal activity,” she said.

The crackdown builds on several recent developments. A federal judge has already ruled that certain gas station slot-style machines violate Missouri law, undercutting arguments that the devices fall outside gambling regulations. At the same time, prosecutors have filed charges against individual stores accused of hosting illegal machines.

Officials say Missouri law clearly bans unregulated gambling devices, and enforcement efforts are now catching up after years of inconsistent oversight. In February, the U.S. District Court for the Eastern District of Missouri found that the devices violate Missouri’s gambling statutes. The machines have drawn complaints from regulators and the licensed casino industry, which argues they siphon revenue while avoiding taxes and rules.

Hanaway framed the effort as a coordinated response across local, state, and federal agencies aimed at dismantling an entrenched network of unlawful gaming.

For now, Torch Electronics’ exit is expected to remove a large share of these machines from circulation almost overnight. Still, authorities say additional legal action and regulatory steps are likely.

Featured image: Office of the Missouri Attorney General / Canva

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Maine has taken a step against online sweepstakes-style gaming, approving a new law that critics say could limit options for players without tackling illegal gambling.

Gov. Janet Mills signed LD 2007 this week after it cleared the state legislature, putting Maine among the most aggressive states moving against sweepstakes-based casino platforms. The law targets sites that use promotional sweepstakes systems to offer casino-style games, a model that has expanded quickly as a workaround to traditional online gambling rules.

Soon after the signing, the Social Gaming Leadership Alliance criticized the decision and warned about its broader effects on players.

“We are disappointed that Maine LD 2007 will become law. Unfortunately, this bill will do nothing to generate revenue for the state nor protect Mainers from exploitative illegal online gambling,” said Sean Ostrow, managing director of the group, in a release provided to ReadWrite.

“Instead, LD 2007 will ban free and low-cost social games that have been operating responsibly for over a decade, leaving the thousands of Maine adults who enjoy them without a safe, trusted outlet for this mainstream entertainment,” he said, adding, “Even as many other states are looking to regulate and tax this growth industry, Maine’s gaming policy continues to pick winners and losers while stifling innovation.”

Lawmakers who backed the bill framed it as a necessary fix to what they see as a loophole. Sweepstakes casinos often let users play for free or buy virtual currency, sometimes redeemable for prizes, blurring the line between gaming and gambling.

Supporters argued that these platforms operate in a gray area and avoid the stricter rules imposed on licensed gambling operators.

Why lawmakers say the Maine sweepstakes model needed to be closed

State officials pointed to concerns about oversight and consumer safety as a driving force behind the legislation. They argued that some platforms may lack meaningful protections, including age verification, responsible gaming tools, and financial transparency.

Reporting around the bill also pointed out that violations could carry penalties, reinforcing the state’s intent to deter operators from continuing under the sweepstakes model. Lawmakers said the goal was clearer enforcement of existing gambling standards.

The move comes as states across the country struggle to define how online gaming should be handled. While some states are exploring regulation and taxation frameworks, others are choosing to shut down newer formats altogether.

Maine officials concluded that the sweepstakes model sits outside established gaming systems, raising ongoing questions about fairness and regulatory consistency.

Industry groups, however, argue that eliminating these platforms could backfire. They say players may drift toward offshore or unregulated sites that offer fewer protections, rather than safer, established alternatives.

The law is set to take effect later this year, and it could trigger legal challenges or further debate as companies respond.

Featured image: Gov. Janet Mills via X / Canva

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Australia is moving to tighten its grip on gambling ads, but the plan is already dividing opinion. The Albanese government is presenting the changes as “strong action” to curb harm, while critics argue the policy has been watered down and delayed to the point where its impact may be limited.

Set to take effect on January 1, 2027, the reforms aim to cut back the sheer volume of betting promotions across television, radio, online platforms and live sport. They also bring in new rules targeting illegal operators and evolving betting products that have slipped through older regulatory frameworks.

Prime Minister Anthony Albanese said the government was “taking decisive action to tackle the community and public health concerns associated with gambling,” adding that the intent was to ensure “Australian children don’t see betting ads everywhere they look” while still allowing adults to gamble legally. Communications Minister Anika Wells said the changes are designed to “break the connection between wagering and sport” and “minimise children’s exposure to wagering advertising.”

Why Australia says gambling ads reform is necessary

Officials are leaning heavily on evidence that gambling harm is widespread and costly. The Office of Impact analysis frames the issue as a “significant public health concern,” pointing to more than $32 billion in annual losses across Australia, but it argues that the figures only tell part of the story.

The same assessment links gambling to a range of social and personal harms, including mental health challenges, family strain and wider community impacts. When the effects are included, the estimated cost of wagering harm alone rises to $26.8 billion each year.

Advertising is treated as a central driver. According to the report, “wagering advertising is a key influence in initiating wagering” and contributes to the “normalisation of gambling,” particularly among young people and those already vulnerable. Evidence cited in the analysis suggests exposure to ads can encourage people to bet more often, try new products and make impulsive decisions. It also finds that children can recall betting brands and language in detail.

Existing rules are described as lagging behind how people actually consume media. The analysis states they “have not kept pace with community expectations,” pointing out that children still encounter gambling ads during family viewing hours. Earlier restrictions created shifts rather than reductions, with fewer ads during live sport but more appearing later in the evening, including after the 8:30pm watershed.

What the new restrictions will and will not do

The updated framework focuses on limiting exposure rather than eliminating it. Ads will be banned during live sports broadcasts, and television will be restricted to three gambling ads per hour between 6am and 8:30pm. Radio advertising will face limits during school commute periods.

Digital platforms are being pulled further into the regulatory net. They will be required to introduce age verification systems and give users the ability to opt out of gambling advertising. The rules also extend into sport itself, removing betting promotions from stadiums and player uniforms.

Endorsements are another target. High-profile figures, including Shaquille O’Neal, Mark Wahlberg and influencer group The Inspired Unemployed, will no longer be allowed to promote wagering services. Promotions built around odds and inducements are also being restricted.

Despite the measures, a full advertising ban was ruled out. The government’s own analysis acknowledges that such a move would deliver “a higher net benefit,” but concludes it would place “a significant financial burden on industry” and disrupt sectors like media and sport. Instead, the plan is framed as a “comprehensive package of reforms” aimed at achieving “a meaningful reduction in the volume of wagering advertising.”

The expected impact reflects that compromise. Wagering activity is projected to fall by about 0.8%, a modest shift that has been criticized. Even so, the reforms are estimated to produce a net benefit of $107.1 million annually through reduced harm.

The analysis also urges caution when interpreting those projections. It states that “it is not possible to draw causal conclusions” between reduced advertising and lower gambling spending. It adds there is “no available evidence to reliably estimate a time frame to see a noticeable change in attitudes,” particularly among younger people.

There is also concern that any early reductions in advertising could prove temporary. The report points out that companies have already scaled back promotions ahead of regulation but warns there are “concerns that this reduction in wagering advertising could be reversed” once the new rules are fully in place.

Criticism grows over gambling ad reforms delays and scaled back ambition

Outside government, the response has been far less measured. Advocacy groups and some observers say the policy reflects delay, compromise and a retreat from earlier expectations of a stronger crackdown, including a full ban.

The Alliance for Gambling Reform has been one of the most vocal critics, particularly on the question of online advertising controls. Tim Costello said that “not a single parent in this country would opt in to their kids seeing gambling ads,” arguing that “the onus should be squarely on the gambling companies and the platforms.”

Concerns also extend to how much advertising will remain visible. Costello said the proposed live sport ban “does nothing to break the nexus between gambling and sport” because ads can still run before and after games. He described the framework as “a piece-meal approach [that] fails our children,” and called for a full ban in line with earlier parliamentary recommendations.

Some of the criticism has focused on timing and political decision-making. Coverage of the policy rollout has pointed to delays and a perceived shift away from tougher options that had been under consideration. This has fueled claims the government has tried to balance competing pressures rather than pursue the strongest possible harm reduction strategy.

The pressures are reflected in the government’s own analysis. The report stresses the need to “minimise the saturation and targeting of wagering advertising,” particularly for children and young people, while acknowledging that existing systems have struggled to keep pace with streaming and online platforms.

Economic considerations also shape the policy. Advertising revenue from gambling supports broadcasters, news production and sporting organizations. The analysis warns reforms must not “jeopardise the continued provision of public interest journalism and grassroots sports,” despite previous condemnation over several government officials allegedly scoring tickets to sports events.

On the other hand, the government describes its approach as balancing “community protection,” “commercial viability,” and “consumer freedom.”

The Office of Impact Analysis has given the proposal an “Adequate” rating, while noting it “would have benefitted from further analysis of the likely impacts” and a more detailed evaluation plan. The assessment allows the reforms to proceed, but it also draws attention to the uncertainty surrounding their effectiveness.

With the start date still some distance away, the government appears to have chosen incremental change over a sweeping ban for now.

Featured image: Canva

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Michigan officials are widening their fight against illegal online gambling, taking action against 45 offshore sites accused of targeting players in the state without approval.

The Michigan Gaming Control Board said Tuesday (April 7) that it issued cease-and-desist orders to the operators after a months-long investigation. Regulators found the sites were offering casino-style games or sports betting to Michigan users despite lacking the required state licenses.

This is thought to be one of the agency’s most expansive enforcement efforts so far. It also builds on a series of recent crackdowns, including earlier actions against twelve offshore operators and another case involving eight unlicensed online casinos.

“The scope of this action sends a clear message: Michigan will not tolerate illegal operators targeting our residents or undermining the lawful businesses that have invested in complying with state law,” said MGCB Executive Director Henry Williams. 

“Our investigators work with unwavering focus to identify, document, and act against every unlicensed site that puts Michigan players at risk. This is an ongoing effort, and we will continue to take action against illegal gambling operators.”

Among the companies flagged in the latest sweep are well-known offshore brands such as BetOnline.ag, SportsBetting.ag, and Americas Card Room, along with a range of casino sites operating under different domain names. State officials say each of them accepted wagers or provided gambling services without authorization.

Why Michigan regulators say the illegal offshore sites are dangerous

According to the press release, state regulators argue these offshore platforms leave users exposed because they operate outside Michigan’s legal system. Unlike licensed operators, they are not required to follow consumer protection rules or submit to oversight.

Officials warn that players may run into rigged or unfair games, delayed or denied payouts, or improper handling of personal and financial information. When disputes happen, users often have no reliable way to resolve them.

Licensed gambling companies in Michigan must clear background checks, undergo technical testing, and meet responsible gaming standards. Regulators also keep ongoing watch over their operations.

The board says the offshore operators violated multiple state laws, including the Lawful Internet Gaming Act and the Lawful Sports Betting Act. Both require any platform offering online gambling to Michigan residents to secure a state license.

If the companies ignore the cease-and-desist orders, they could face stronger penalties. The agency says it coordinates with law enforcement and may pursue civil or criminal cases when needed. Over the past year, Michigan regulators have steadily targeted offshore sites.

Officials are also urging residents to double-check whether a platform is licensed before depositing money. They say tips from the public have been key in identifying illegal operators and encourage anyone who spots suspicious activity to report it.

The agency added that support remains available for people dealing with gambling problems, including access to a 24-hour helpline and other state and national resources.

Featured image: Michigan Gaming Control Board

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Fox Corporation is teaming up with Kalshi to weave prediction market data into its news programming.

The partnership will bring Kalshi’s real-time forecasts into several Fox News Media outlets, including Fox News Channel, Fox Business Network, Fox Weather, and the streaming service Fox One. The company shared the details in an announcement released Tuesday (April 7).

The move seems to reflect a wider change taking hold across the media industry, where probability-based data is starting to sit alongside traditional reporting and analysis.

Under the agreement, Fox will use Kalshi’s data to shape coverage of politics, the economy, and cultural developments. The forecasts come from trading activity on Kalshi’s platform, where users buy and sell contracts tied to real-world outcomes. Prices on those contracts are widely interpreted as the market’s collective sense of probability.

Bringing Kalshi data into Fox coverage

Kalshi positions its approach as a way to harness the “wisdom of the crowds,” giving probability estimates that can complement polling and expert commentary. The company has already gained traction in several newsrooms as a nonpartisan signal of how events might unfold, despite controversy.

“Prediction markets have quickly become an essential data point and a compelling new experience across our live content portfolio,” said Paul Cheesbrough, CEO, Tubi Media Group.

“By integrating Kalshi’s real-time data into our fast-growing streaming platform FOX One and across FOX News Media’s leading networks, we’re giving audiences both deeper insights and a more engaging way to follow the stories that matter most.”

Fox says viewers will start seeing this data across both its broadcast and digital products, potentially reaching a massive audience. The company reports that Fox News Media alone connects with nearly 200 million people each month.

Kalshi, based in New York, is a federally-regulated prediction market. Users trade contracts priced between zero and one dollar, with those values reflecting perceived likelihoods of future events.

The platform has already partnered with other major outlets, including CNN and CNBC, as media companies experiment with market-based forecasting tools. At the same time, a U.S. congressman recently raised concerns in a public letter about the implications of integrating prediction markets into news coverage, particularly around ethics and potential influence.

Supporters argue these markets can aggregate scattered information more efficiently than polls or pundits, since participants have financial incentives tied to being correct. Critics, however, question whether that same incentive structure could introduce new risks.

Featured image: Fox / Kalshi via press release

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PrizePicks has locked in a multi-year agreement with the NBA, giving the Atlanta-based company official designation as a Daily Fantasy Sports Partner and essentially widening how it can use league branding.

The deal, revealed Tuesday (April 7), clears the way for PrizePicks to incorporate NBA intellectual property into both its paid daily fantasy contests and its free-to-play games. This stretches across its app, website, and other approved digital platforms, where the company plans to roll out new fan-focused features and content tied to the league.

As part of the agreement, PrizePicks can also tap into NBA League, team, and event marks for approved campaigns. This includes joint promotional efforts and visibility across NBA media and digital channels, giving the company a larger stage to reach basketball fans.

Through a separate agreement, the National Basketball Players Association will allow PrizePicks to feature the likeness of multiple NBA players in its marketing and content.

How the NBA PrizePicks partnership extends the company’s reach

PrizePicks is positioning the NBA deal as a natural extension of its long-standing connection to basketball, which it says has always been central to its platform.

“This partnership with the NBA marks an important milestone for PrizePicks as we continue to grow alongside one of the most iconic leagues in sports,” said Mike Ybarra, CEO at PrizePicks. “Basketball has always been at the heart of our brand, and this collaboration reflects our deep roots in the game.

“Our focus has always been on delivering fun and responsible experiences, and working with the NBA allows us to bring that commitment to fans through innovative integrations that enhance how they engage with the game.”

The NBA, for its part, pointed to PrizePicks’ rapid rise in the fantasy space as a key reason for teaming up.

“PrizePicks has established itself as a leader in daily fantasy sports through innovation and a strong focus on the fan,” said Eric Rimsky, Head of Domestic Fantasy, NBA. “We’re excited to collaborate with PrizePicks to enhance the NBA fan experience by combining the league’s unmatched moments with PrizePicks’ interactive innovation, creating new and engaging ways for fans to connect with the game.”

Apart from the move, the company recently secured a fantasy sports operating license in New York, opening access to one of the largest regulated markets in the United States. It has also been building out its product ecosystem, including the launch of “The Feed,” a social-style feature designed to blend content, stats, and gameplay into a single in-app experience.

Beyond sports, PrizePicks has experimented with new formats through a collaboration with prediction market platform Polymarket.

The company said KLUTCH Sports Group helped broker the NBA agreement. At the same time, PrizePicks is continuing to stress compliance, stating that it earned iCAP accreditation from the National Council on Problem Gambling in 2025, which it says makes it the only fantasy operator with that certification.

Featured image: PrizePicks / NBA via press release

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A fresh federal lawsuit is putting a spotlight on how control of sports data can shape competition in the booming US betting industry.

Altenar Technologies Limited has filed suit in New Jersey against Sportradar Group AG and Sportradar AG, arguing the company used its grip on official league data to keep competitors out. The complaint, which has been reviewed by ReadWrite, brings up the issue of access to real-time “official league data,” described as “the essential input for businesses like Altenar that sell turnkey sports betting technology platforms.”

Altenar says it has relied on Sportradar for years in overseas markets, paying more than $6 million annually for data feeds. But when the company tried to enter the US after nationwide legalization in 2018, it says that access was cut off.

The company claims Sportradar had previously indicated US rights would be available under a separate deal. Instead, the lawsuit alleges Sportradar “reneged on its promise to supply Altenar with official data for use in connection with betting in the United States.”

However, a Sportradar spokesperson told ReadWrite: “While we prefer not to comment on pending litigation, we strongly disagree with the claims made by Altenar, which we believe are without merit and contain numerous inaccuracies.

“Sportradar will address these through the legal process. We encourage stakeholders to rely on our public disclosures and SEC filings for a complete and accurate view of our business.”

Altenar claims Sportradar used data control to limit competition

The complaint argues that without official data, it’s nearly impossible to compete. It states that “sportsbooks must offer ‘in-play’ betting to remain competitive,” and that they can only do so by using official league data.

Altenar says the lack of access has stalled its US expansion despite nearly $2 million in investment and outreach to dozens of potential partners. According to the filing, several operators declined to move forward without integrated official data feeds.

The lawsuit also points to Sportradar’s exclusive agreements with leagues like the NBA, MLB, and NHL. Altenar claims these “exclusive multi-year arrangements” give Sportradar outsized control over a critical part of the betting ecosystem.

Complicating matters, Sportradar has moved into the same market as its customers. Its ORAKO platform, launched in 2022, is described in the complaint as “an all-in-one sportsbook solution for betting operators” that would “alleviate [sportsbooks’] need to invest in additional technology and innovation.”

Altenar argues that this creates a conflict, allowing Sportradar to favor its own platform while restricting rivals.

A separate lawsuit involving Panda Interactive has also expanded antitrust claims against Sportradar and Genius Sports, similarly accusing the companies of leveraging exclusive data deals to limit competition in betting and streaming markets.

Despite this, Sportradar’s business continues to grow. The company recently reported record revenue for the fourth quarter of 2025.

Altenar’s complaint goes beyond the United States, alleging that new terms for its international data agreements would force it into operating at a loss. The company says it faces a choice between unprofitable contracts or losing access altogether.

The lawsuit seeks damages and a court order requiring fair access to data. Altenar warns that without changes, “this lack of competition can only result in decreased customer choice, increased prices, and decreased innovation.”

UPDATED: Comment from Sportradar added on April 9, 2026.

Featured image: Sportradar / Altenar Technologies

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“It’s an interesting time in federalism.”

When Professor Steven Light said that in a recent ReadWrite interview, it landed with weight. He was sitting next to fellow Professor Kathryn Rand, his longtime collaborator on tribal gaming law and co-author of Indian Gaming Law and Policy, and the two were talking through a change that feels both sudden and far-reaching. Prediction markets, once a niche corner of finance, are now pushing into space long defined by tribal and state gaming systems.

The platforms allow users to trade contracts on the outcome of real-world events, from sports games to elections, in ways that can closely resemble traditional betting. However, they are forcing new questions about sovereignty, regulation, and who really controls the rules.

This tension was hard to miss at last week’s Indian Gaming Association Tradeshow and Convention. Tribal leaders, regulators, and industry voices gathered as legal disputes continue to intensify and uncertainty grow. 

“Today, our Board took decisive action to protect what generations before us fought to build,” IGA Chairman David Z. Bean said at the conference. “These so-called prediction markets are an attempt to bypass tribal authority and recast gambling as a financial product. We will not allow that. We will stand united to defend tribal sovereignty and the integrity of Indian gaming.”

The expansion of federally regulated event-based trading platforms has become one of the most urgent issues in Indian Country. Prediction markets have been seen to bypass the very frameworks tribes have spent decades building and defending, including IGRA compacts and recent enforcement wins against sweepstakes-style operators.

Prediction markets present a growing challenge to established Indian tribal gaming frameworks

For Rand, who is a visiting professor at Boyd Law, the concern is immediate. “I think that it’s fair to say that prediction markets are a threat to tribal gaming,” she said. This ties directly back to the Indian Gaming Regulatory Act, the 1988 law that shaped modern tribal gaming. IGRA depends on a shared system where states and tribes negotiate compacts that govern operations and revenue.

In this case, prediction markets may be stepping outside that system altogether.

“If we accept that prediction markets are effectively gaming,” Rand explained, “then they operate in a way to remove that governmental authority from both states and tribes.” In practical terms, federally regulated platforms, primarily overseen by the Commodity Futures Trading Commission (CFTC), could offer products that look and feel like sports betting without following the same rules or contributing to the same revenue structures.

From the CFTC’s perspective, prediction markets fall under existing derivatives law, offering a regulated alternative to offshore betting and potentially improving market efficiency by aggregating information about future events. It may help explain why federal authorities have been more willing to assert jurisdiction, even as states and tribes push back.

And we’ve seen this playing out in recent days, having reported that the CFTC and the Department of Justice are taking legal action against states such as Arizona, Illinois, and Connecticut over attempts to limit prediction markets. This indicates a more aggressive federal stance in an area traditionally controlled at the state and tribal level.

Light sees this as a potential crack in what he and Rand have long called the “casino compromise,” the balance IGRA created among tribal sovereignty, state oversight, and commercial interests. “That balance has largely held over the last several decades,” he said. “We don’t want to be apocalyptic about it, but it is true that they are a current and imminent and real threat that tribes see to that balance.”

The stakes extend well beyond legal theory. Tribal gaming remains the main economic engine for many tribal governments, supporting essential services like healthcare, housing, education, and public safety. As Rand put it, “most tribes have gaming as their primary economic driver and job creation in a relatively constrained economy.”

Economic impact and rising federal pressure

The financial importance of that system is clear in places like Arizona. Tribal casinos there contributed $33.4 million to the state’s Benefits Fund in just the third quarter of fiscal year 2026, which is an 8.3% increase from the previous year. These funds flow into education, emergency services, wildlife conservation, tourism, and programs addressing problem gambling.

Since 2004, total contributions from tribal gaming in Arizona have reached about $2.5 billion, showcasing a long-standing partnership between tribes and the state.

In this context, the timing of federal action stands out. Just days after Arizona reported its latest contribution figures, it became a target in a federal legal challenge tied to prediction markets. For many tribal stakeholders, the overlap reinforces a growing concern that a stable, heavily regulated system is now being challenged by a newer market operating under a different set of rules.

“The vast majority of tribes won’t be able to simply pivot to another equally effective route of economic development,” Rand warned. If prediction markets draw users away without sharing in revenue obligations, the long-term consequences could be significant.

The ongoing discussion centers on whether prediction markets count as gambling.

“Public policy to some extent drives how we define what is gambling,” said Rand. If these platforms fall outside that definition, they could avoid safeguards designed to ensure fairness, prevent underage participation, and limit problem gambling.

From a user’s perspective, though, the difference is not always obvious. Contracts tied to sports, elections, or entertainment outcomes often behave in ways that are “very similar, if not identical, to sports betting,” Rand noted.

Light takes that idea further, pointing to how quickly the scope is expanding. “What this is doing is opening up a new space,” he said, where people can wager on everything from awards shows to political events—areas historically kept outside regulated gaming.

Prediction market regulation struggles to keep pace with ongoing change

This is not the first disruption tribal gaming has faced. In recent years, tribes have successfully pushed back against sweepstakes-style operators that tried to exploit gray areas, which often relied on alliances between tribes, states, and commercial operators, with a shared focus on consumer protection.

Rand believes a similar approach could emerge again. “This is an opportunity for states and tribes… to find common ground,” she said, especially around fairness and consumer safety.

But prediction markets are a tougher challenge because they come with federal backing, at least in part, complicating enforcement and raises deeper jurisdictional questions.

“It’s incredibly difficult to legislate ahead of technology,” Light said, comparing the moment to earlier debates over online poker and digital gaming. Innovation has always moved faster than regulation, but the current pace feels different.

“The suddenness with which prediction markets have come on in the last year or so,” Light noted, along with strong adoption among younger users, has created a situation where regulators are struggling to catch up.

For tribes already working through the shift to mobile wagering and iGaming, that creates another layer of uncertainty. “Prediction markets arguably are pulling the rug out from under that process,” Rand said. Years of negotiation and investment tied to mobile betting frameworks could be undermined by a parallel system that operates outside those agreements.

The dispute is now unfolding on several fronts. Tribal organizations have filed amicus briefs against platforms like Kalshi. Lawmakers are introducing bipartisan bills to clarify regulatory authority. Members of Congress are also questioning whether current offerings align with federal law, even as enforcement remains uneven.

For Light, the issue reaches beyond gaming into the wider balance of power in the U.S. system. “This aligns with… an assertion of federal power,” he said, describing recent actions as “new ground” in how authority is divided among federal, state, and tribal governments.

Rand shares that concern and questions the policy rationale behind the federal approach. “There doesn’t seem to be a clear public policy supporting the federal position on this,” she said, especially when compared with the established goals behind tribal and state gaming systems.

Those goals—economic development, consumer protection, and sovereignty—remain central. Tribal gaming has long been a foundation for self-determination and governance.

“If we have a threat to that source of revenue, that’s significant,” Rand said. The implications go beyond dollars to control itself. If prediction markets can operate outside tribal jurisdiction, it raises broader questions about what comes next.

“That also suggests that there could be other activities… that tribes simply would not have control over,” she added.

Looking ahead, both Rand and Light expect the conflict to intensify. Legal battles are likely to continue, and the issue could ultimately reach the Supreme Court as competing interpretations of federal authority collide.

For now, prediction markets are growing quickly, federal agencies are asserting their role, and tribes are weighing how best to respond.

Light’s opening comment captures the moment. What’s happening appears to be a turning point that could redefine how tribal sovereignty operates in a digital economy where even the definition of gaming is in flux.

And as both scholars make clear, the stakes are real. They touch on economic stability, legal authority, and the future of self-determination for tribal nations.

Featured images: via LinkedIn

The post Experts say prediction markets challenge tribal sovereignty in post-IGA 2026 showdown appeared first on ReadWrite.

Polymarket is getting ready to rebuild the core of its exchange, a shift the team says will be the most significant change in the platform’s history. The upgrade will roll out over the next few weeks and quietly replace the machinery underneath the app without altering how it looks to users.

Compare it to swapping out a car engine while keeping the same exterior. On the surface, the experience should feel familiar, but underneath, nearly everything is being reworked.

“Our Biggest Change to Date: CTF + CLOB v2,” the developers wrote in a public update, outlining what they called an upgrade of “the entire Polymarket exchange stack.”

The new system, known as CTF + CLOB v2, introduces fresh contracts, a redesigned order book, and a different collateral structure. During the transition, trading will briefly pause while systems are migrated over a two- to three-week window.

Polymarket overhaul includes trading exchange upgrade aimed at speed and flexibility

CTF Exchange V2 replaces the current exchange contract with a more streamlined version. The redesign is said to focus on making order handling cleaner and faster, with changes that simplify how trades are structured and executed.

It “optimizes and simplifies the Order struct,” while also improving how orders are matched. The update adds support for “1271 signatures” and introduces “builder codes for onchain order attribution.” It also includes “optimized fee collection and distribution.”

The changes are thought to be relevant for developers running automated strategies or building tools on top of Polymarket. The expectation is that bots and integrations will run more smoothly, with fewer inefficiencies in how trades are processed.

Part of the transition is a new collateral token called Polymarket USD, which replaces USDC.e. The team says the token is “backed 1:1 by USDC,” keeping its value stable while allowing tighter integration with the new system.

“For most users, this transition is seamless. The frontend handles wrapping automatically with a one-time approval prompt,” the developers said.

More advanced traders will need to take action themselves. “Power users and API-only traders will need to wrap their USDC or USDC.e into Polymarket USD via the Collateral Onramp contract’s wrap() function.”

The updated system also includes a new version of the platform’s CLOB-Client SDK. “Your client queries a version endpoint and refreshes on migration day,” the team noted. “TypeScript, Python, and Go clients will be ready and documentation shared before release day.”

Developers will need to update their tools to stay compatible. “If you’re running a bot or integration, you’ll need to update your SDK and re-sign orders with the new struct.”

All existing order books will be wiped as part of the shift. “During the upgrade, all existing order books will be cleared. There will be a short maintenance window,” the developers said.

The overhaul arrives during a busy and sometimes turbulent stretch for Polymarket. The platform recently pulled a high-profile betting market tied to Artemis after facing backlash. At the same time, it has been expanding, including the acquisition of Dome.

Featured image: Polymarket via X

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Four federally recognized tribes in Maine are stepping directly into a federal lawsuit over the state’s new online gambling law, moving to defend a system that gives them exclusive access to the casino market.

In a filing dated April 1, 2026, the Houlton Band of Maliseet Indians, Mi’kmaq Nation, Passamaquoddy Tribe, and Penobscot Nation, together known as the Wabanaki Nations, asked the U.S. District Court for the District of Maine to let them join the case as defendants. In the motion, the tribes say they “move to intervene in this case as party defendants” under federal procedural rules.

Their request adds a new layer to an already closely watched legal fight that began earlier this year when Oxford Casino Hotel, its parent BB Development, LLC, and Churchill Downs Incorporated sued to block the law.

Maine tribes move to defend casino law tied to economic self-determination

The measure took effect on January 11, 2026, after Governor Janet Mills allowed it to become law without her signature. The legislation opens the door to iGaming in Maine but limits licenses to the four federally recognized Wabanaki Nations. Under the statute, “[t]o be eligible to receive an Internet gaming license, an applicant must be a federally recognized Indian nation, tribe or band in this State.”

The tribes argue the lawsuit threatens a key source of future revenue and self-governance. Their filing says the case “concerns a constitutional attack on a Maine statute that establishes regulatory parameters pursuant to which the four Wabanaki Nations may seek to obtain licenses to offer internet gambling.”

They describe themselves as the “direct and intended beneficiaries” of the law and say the outcome will directly affect their ability to fund essential services. According to the motion, revenue from online gaming would support “core governmental functions and services for Wabanaki citizens and families, such as housing, education, public safety, and healthcare.”

The filing also frames the law as part of a push for sovereignty, saying it advances “their sovereignty and self-determination through economic development.” If the statute is struck down, the tribes warn it would “foreclose the generation of tribal revenues needed to support core tribal governmental services.”

They further argue the state “does not share the Nations’ unique sovereign and economic interests” in the outcome.

The original lawsuit from casino operators claims the law creates an unconstitutional monopoly and violates equal protection by excluding non-tribal businesses. The companies say they would enter the online market if allowed and warn the system could divert customers from existing casinos, cutting revenue and jobs.

Supporters of the law, including tribal leaders and allies, have pointed to earlier proposals and policy efforts aimed at giving the Wabanaki Nations a stronger economic footing in Maine, especially in industries like mobile gaming where they have historically been excluded.

The tribes noted they coordinated their filing with the existing parties. According to the motion, “Defendant Champion (the ‘State’) takes no position on this motion,” while the plaintiffs do not oppose the intervention under agreed conditions. 

If the court approves the request, the tribes will formally join the case as defendants.

Featured image: Wabanaki Alliance logo

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A federal appeals court has handed Kalshi an early but meaningful win in its fight with New Jersey regulators, and a fresh filing in a separate Arizona case is now adding momentum to the company’s broader legal strategy.

In a decision issued Monday (April 6), the U.S. Court of Appeals for the Third Circuit said Kalshi is likely to succeed in arguing that federal law overrides state gambling restrictions against New Jersey. This keeps a lower court injunction in place, blocking New Jersey from enforcing its laws against the company as the case continues.

Kalshi CEO Tarek Mansour quickly welcomed the outcome, writing, “The Third Circuit ruled in Kalshi’s favor.” He added, “People use prediction markets because they’re more fair, transparent, and reward being right.”

Kalshi’s event contracts allow users to trade on the outcomes of real-world events, including sports. However, New Jersey regulators have argued those contracts function as illegal sports betting and previously issued cease-and-desist orders targeting Kalshi and partners such as Robinhood.

Federal appeals court decision likely preempts New Jersey state gambling rules against Kalshi

The appeals court, at least for now, rejected that argument. Judges said Kalshi showed a “reasonable chance of success” in claiming that the Commodity Exchange Act preempts state law in this area.

As the court explained, “The contract’s value is determined by market forces… based on perceptions about the event’s likelihood.” Its market-based structure, the panel said, places the contracts within the scope of federally regulated derivatives.

The court added that “Kalshi’s sports-related event contracts are swaps traded on a CFTC-licensed DCM, so the CFTC has exclusive jurisdiction.” 

Because of that, the panel said New Jersey’s attempt to apply its gambling laws would interfere with federal authority and “would create an obstacle to executing the Act.”

This echoes concerns raised during earlier hearings, where Third Circuit judges signaled skepticism about whether state gambling frameworks should apply to federally approved financial instruments.

At the same time, pressure from states is intensifying. Ohio also moved to block Kalshi’s offerings following similar action in Nevada, pointing to a growing push among regulators to limit sports-related prediction markets.

Arizona filing adds new dimension to legal fight

A newly filed notice in a separate Arizona case shows how Kalshi is using the Third Circuit’s ruling to reinforce its position nationwide.

In that filing, the company told a federal court that the appeals decision is the first at that level to directly address whether the Commodity Exchange Act preempts state gambling laws in this context.  It also flagged an upcoming Ninth Circuit hearing scheduled for April 16 that will consider similar legal questions.

Kalshi argued that the Third Circuit’s reasoning should carry weight elsewhere, particularly its conclusion that both “field and conflict preemption” apply when states try to regulate swaps traded on federally licensed exchanges. 

The filing also states how the court defined the contracts themselves. According to the decision, “Kalshi’s sports-event contracts fit comfortably” within the legal definition of swaps because sports outcomes can have “financial, economic, or commercial consequence” for stakeholders like sponsors and advertisers. 

Beyond the legal classification, the Third Circuit found Kalshi would face irreparable harm without an injunction, citing threats of civil and criminal penalties along with reputational and economic damage. Judges also said the public interest favors enforcing federal law in this area.

Mansour cast the ruling in broader terms, writing, “Free markets work. We should keep them that way.” He added, “This is a big win for the industry and millions of users.”

Not everyone on the panel agreed. A dissenting judge argued the contracts closely resemble traditional sports betting and should remain under state oversight.

For now, though, Kalshi can continue operating while the legal fight unfolds across multiple jurisdictions.

Featured image: Canva / Kalshi

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Gibraltar has taken a notable step toward reshaping its digital economy, issuing its first-ever license to a prediction markets operator amid pressure on its core online gambling sector.

Authorities approved the license for Predict Street Ltd on March 26, formally adding the company to the territory’s register of betting intermediaries. The move was announced in parliament by Justice, Trade and Industry Minister Nigel Feetham, who framed it as part of a broader strategy to modernize Gibraltar’s regulatory framework and reduce reliance on traditional gaming revenues.

While Gibraltar is in the process of overhauling its gambling laws, officials processed the application under existing legislation. A more comprehensive reform bill, designed to strengthen oversight and bring the jurisdiction in line with evolving global standards, has yet to come into force.

Fast-tracked approval draws attention

The pace of the approval caught lawmakers’ attention, with Feetham highlighting what he described as an unusually quick regulatory turnaround.

We expect this to be a substantial area of growth for Gibraltar,” he said during the parliamentary session, calling the approval a case of “record timing” for a license of this kind.

The speed signals a sense of urgency within government. Gibraltar is moving aggressively to position itself at the forefront of emerging digital sectors, particularly as uncertainty clouds its traditional revenue streams.

Mounting pressure on a gambling-dependent economy

For years, Gibraltar has leaned heavily on online gambling, which accounts for roughly one-third of government revenue and supports a significant share of local employment.

But that model is facing strain. Rising gambling duties in the United Kingdom, a key market for Gibraltar-based operators, have driven up costs and squeezed margins. The changes have forced companies to reassess their operations and raised broader concerns about the territory’s long-term economic stability.

In response, policymakers have begun actively seeking new growth areas. Feetham has taken a more visible, hands-on role in promoting Gibraltar as a competitive regulatory hub, particularly for emerging technologies.

“We are working relentlessly to protect Gibraltar’s economic interests,” he said in a separate statement, underscoring the government’s proactive stance.

A strategic push into prediction markets

Prediction markets allow users to trade on the outcomes of real-world events, blurring the line between financial instruments and traditional betting products. That hybrid nature has made them difficult to classify, leaving regulators worldwide divided. By licensing Predict Street, Gibraltar is positioning itself among the first European jurisdictions to formally embrace the sector.

Elsewhere, the approach has been far more cautious. Regulators in countries such as Germany, France, and the Netherlands have restricted or blocked prediction market platforms, reflecting ongoing uncertainty about how to regulate them.

Global regulatory tensions intensify

The debate over prediction markets is also heating up globally.

In the United States, the Commodity Futures Trading Commission has recently sued three states (Arizona, Connecticut, and Illinois), marking a new chapter in the ongoing debate over prediction markets and who should regulate them.

At the same time, some states are exploring clearer regulatory frameworks. Iowa, for example, has advanced legislation aimed at defining and potentially permitting certain types of prediction market activity. Meanwhile, tribal gaming groups have voiced concerns about federal encroachment into areas traditionally governed by state and tribal authorities.

Predict Street eyes a global opportunity

Predict Street operates as a crypto-based platform backed by Abu Dhabi blockchain firm ADI Chain. The company is targeting a public launch on April 9 and has already begun onboarding early users.

It is also leaning heavily into sports marketing, branding itself as the “Official Prediction Market Partner” of the FIFA World Cup 2026 in an effort to capture global attention ahead of the tournament.

Still, significant hurdles remain. Access to major markets such as the UK could prove challenging if regulators ultimately classify prediction markets as gambling products, subjecting them to stricter rules and higher compliance costs.

A calculated risk for a changing industry

For Gibraltar, the decision to license Predict Street reflects a calculated bet on the future of digital finance and gaming.

The move underscores a broader shift. Rather than waiting for global regulatory consensus, the territory is choosing to act early and shape its own position in a fast-evolving market. Whether that strategy pays off will depend largely on how other regulators respond and whether prediction markets can secure a stable footing within the global regulatory landscape.

Featured image: Berthold Werner, CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons

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Bexar County deputies say they’ve dismantled what they believe was an illegal gambling operation on San Antonio’s North Side, arresting three people and detaining eight others during a coordinated raid.

The operation took place on Tuesday at a location in the 400 block of West Hildebrand Avenue. According to the sheriff’s office, investigators had been watching the site for some time before obtaining a warrant and moving in.

Dozens of machines seized during raid

When deputies entered the building, they say they found a substantial gambling setup, seizing about 50 machines.

That volume matters. In past cases, law enforcement has used the number of devices to distinguish between small, informal operations and larger-scale illegal game rooms that may generate significant revenue.

Officials described the machines as the type commonly seen in so-called “eight-liner” operations, which have long existed in a legal gray area in Texas but are often ruled illegal when they function as games of chance rather than skill.

Authorities have not yet said whether cash was seized or how much money the operation may have generated.

Three arrested, facing multiple charges

Three people were arrested at the scene:

• Alissa Nadyne Arenas, 23
• Kambry Renee Ybarra, 27
• Anthony Vera

Investigators say they now face multiple charges, including:

• Gambling promotion
• Possession of gambling devices or equipment
• Engaging in organized crime

The organized crime charge indicates that authorities believe the case reflects a coordinated effort rather than an isolated activity.

In addition to the arrests, eight other individuals were detained at the scene. However, they were not taken into custody. Instead, deputies issued citations before releasing them.

Organized crime unit led the investigation

The case was led by the sheriff’s office Organized Crime Division, working alongside the Street Crimes Unit. Together, they executed the search warrant and secured evidence from the scene.

Officials have not yet said how long the operation had been running or whether any cash was recovered.

Part of a broader nationwide crackdown

The San Antonio raid reflects a broader enforcement trend. Illegal game rooms have drawn increased attention in recent years, particularly in Texas, where local jurisdictions have taken different approaches to regulation and enforcement.

• In North Carolina’s Johnston County, a recent raid uncovered gambling machines along with drugs and large amounts of cash.
• In Florida, Sarasota authorities arrested two people connected to another illegal gambling operation.

These cases are often cited by law enforcement as examples of how unregulated gambling operations can intersect with money laundering, drug activity, or organized crime.

Lawmakers push for stronger enforcement tools

At the same time, some states are looking to strengthen enforcement through legislation.

In Louisiana, for example, a proposed bill would expand racketeering laws, potentially giving prosecutors broader authority to pursue organized gambling cases and seize assets tied to them.

While Texas already has laws addressing gambling and organized crime, enforcement often depends on local priorities and available resources.

Investigation still ongoing

Officials say the investigation in San Antonio is still active, leaving open the possibility of additional arrests or charges.

Cases like this can take months to fully develop, especially if investigators pursue financial records or connections to other operations.

For now, the three people arrested face the most serious allegations, while those cited may deal with lesser consequences. Meanwhile, law enforcement agencies in the region continue to target suspected illegal game rooms as part of an ongoing effort to curb underground gambling activity.

Featured image: Bermix Studio/Unsplash

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