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A new industry roundup says New York sportsbooks won $214 million in July, while federal regulators issued fresh warnings and proposals that could shape the prediction market space.
A source report is framed around a leadership vacancy at the federal body overseeing tribal gambling, but the available fact set primarily documents heavy opening-day demand at the Iowa Tribe of Oklahoma’s new Harrah’s-branded casino.
The CFTC has warned supervised prediction markets that event contract prices must be presented clearly and not in ways that resemble gambling odds.
Billy Walters used a Las Vegas conference appearance to argue prediction markets would have dramatically expanded his edge, as DraftKings separately said most activity in sportsbook states appears to come from professional bettors and institutional traders.
A federal judge rejected Kalshi’s bid to block Utah from enforcing its anti-gambling laws, marking another state-level setback for prediction markets as the company prepares an appeal.
DraftKings says its Predictions product is scaling faster than expected, and the company specifically pointed to strong new customer growth in California and Texas during its latest earnings call.
