Percentage of US online sports bettors who reported chasing losses on a betting app:
2024: 53%
2025: 52%
2026: 60%
2027: TBD
Source: Siena Research Institute from a 3,000+ person online panel. Margin of error +/- 1.9%.
Earlier today, Flutter’s stock fell to under $79, an intraday level not seen in the firm's historical share price data since the March 2020 COVID crash and when sports were mostly gone.
@yannitesh22 “Defendant A claimed that he was mentally groggy at the time because he played games without sleeping for three days and two nights at the casino, but the court found this claim difficult to readily accept, citing factors such as the VIP lounge closing every day at 6 a.m.”
Every time New York State sues a prediction market (today, Polymarket), the AG exaggerates how effective the state's policies are at protecting users of licensed house-banked betting apps from harm. Seems like you can sue a PM without hyping existing sports betting laws so much.
The IGC unanimously denied the NCAA's request for a full college player prop ban in the state. While commissioners took the issue seriously, they see it as more of a legislative than regulatory issue. So, pregame college player props live in Indiana (for now).
My kind of gambling harms studies are ones saying we already have plenty of studies, & we don't need more right now to do something effective and meaningful.
Source: 'Regulatory Whack-a-mole: A Rapid Scoping Review of Gambling Marketing Restrictions and their (in)Effectiveness'
The last time Americans rioted over prices appears to be over 100 yr ago. Would Americans ever riot over the higher & higher costs of being a sports fan? (Which includes betting as a kind of new fan tax). Probably no. But Americans will riot if their team wins a big game/title.
NEW: Notable director resignation from the National Council on Problem Gambling. Doesn't mention the $2 million KALSHI deal, but the departure follows a handful of high-profile exits from the NCPG related to Kalshi (see thread below).
NEW: The Evergreen Council on Problem Gambling in Washington State today became the 4th known organization/agency to leave the National Council on Problem Gambling over its controversial $2 million Kalshi deal announced in May.
The others are the Michigan Gaming Control Board, Ohio Casino Control Commission, and the Nevada Council on Problem Gambling. Meanwhile, the Massachusetts Gaming Commission said this month that it will consider not renewing its NCPG membership.
The NCPG has disputed the reasons behind the Nevada group's departure, saying they weren't Kalshi-related.
NEW: Utah Senator John Curtis breaks ranks with Republicans to demand that Senate Judiciary Committee subpoena Donald Trump Jr. over his business dealings, including advisory ties to prediction market platforms reliant on favorable federal regulatory decisions by CFTC.
Mike Piazza hits a two-run homer in the bottom of the eighth inning during the first professional sporting event held in New York City after 9/11, at Shea Stadium.
The New York Mets defeat the Atlanta Braves 3-2.