Business
Flutter & DraftKings hit multi-year lows as Kalshi eyes $40bn
Flutter & DraftKings shares have hit multi-year lows as Kalshi reportedly nears a $40bn fundraise.
Edition
InfoBets US
Betting news from the United States: the states, the regulators, the courts & the operators, every story with its sources.
Business
Kalshi valuation up 20x in a year to $40bn
Kalshi is in advanced talks to raise $1bn at a $40bn valuation, according to Reuters.
Regulation
Pennsylvania AG threatens seizure as skill-games deadline nears
Pennsylvania businesses must remove an estimated 70,000 skill games by 14 October or face police action.
Markets
Raven’s valuation jumps nearly 4x to $90m on new funding round
Raven, a liquidity provider for Kalshi & Polymarket, has raised funding at a $90m valuation backed by Coinbase Ventures & CMCC Global.
Scandal
Kalshi AI ad accused of cloning YouTuber, changing his race
YouTuber Elliot Choy says Kalshi's AI ad copied his video & turned him white.
Scandal
Dealer rigged dice calls to turn losing rolls into $132k wins
A Harrah's Cherokee Valley River dealer has agreed to plead guilty over a $132,000 craps cheating scheme run with a player.
Business
Comer widens prediction-market insider-trading probe to 5 firms
House committee chairman James Comer has widened his prediction market insider-trading probe to include Hyperliquid, Crypto.com & PredictIt operator Aristotle Exchange.
Business
Arkansas casino’s leadership shake-up lands Seneca exec top job
Saracen Casino Resort names Rod Centers CEO days after firing its GM & CMO over an alleged side business.
Markets
Bernstein: prediction markets hit $410bn in 2026, $10tn by 2035
Bernstein forecasts prediction market volume will grow to $10tn by 2035, with crypto gaining share.
Regulation
Florida AG demands Google, Meta, TikTok drop casino ads
Florida's attorney general has told five major platforms to stop running sweepstakes casino ads.
Courts
Ohio & Tennessee beat Kalshi as court backs state gambling laws
A federal appeals court ruled Kalshi's sports-event contracts are not swaps & states can enforce gambling laws against them.
Courts
Kalshi faces fresh Arizona challenge after losing Nevada ruling
Arizona's attorney general is asking the 9th Circuit to reopen her case against Kalshi after a similar Nevada ruling went against the platform.
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