News

Robinhood says prediction markets helped drive record $1.31B quarter

Robinhood reported record second-quarter revenue of $1.31 billion, with event contracts generating $156 million and surpassing crypto transaction revenue for the period.

Study links legal online sports betting to lower household savings

Researchers analyzing more than 183,000 U.S. households found that legal online sports betting was associated with lower investment deposits and added financial strain for some frequent and lower-savings bettors.

California wildfire prediction markets draw scrutiny as lawmakers target disaster-related trades

Prediction markets tied to California wildfires are facing ethical and regulatory scrutiny, with critics warning they could create harmful incentives during real-world disasters.

FanDuel-CME prediction market partnership shows strain as sports contracts draw scrutiny

FanDuel and CME Group’s prediction market venture appears to be under pressure as CME publicly distances itself from sports event contracts while FanDuel expands into other venues.

CLARITY Act debate puts CFTC staffing and prediction market oversight in focus

Lawmakers and regulators are weighing whether the CFTC has the staff and authority to police fast-growing prediction markets, especially if the CLARITY Act expands the agency’s role in digital assets.

House passes bill to bar lawmakers from buying new stocks and prediction markets

The House has passed a bill that would bar lawmakers from buying new stocks and prediction markets, according to a CNBC report that offered limited detail on the measure’s scope and next steps.

HISA’s proposed 2027 budget would put California’s racing assessment at $5.44M

The Horseracing Integrity and Safety Authority has proposed a $72.7 million budget for 2027, including a $5.44 million gross assessment for California and track-level costs for Santa Anita and Del Mar.

Choctaw Launches Free-to-Play Sportsbook App as Oklahoma Sports Betting Stays Illegal

Choctaw Casinos & Resorts has rolled out Choctaw Sports, a nationwide free-to-play sportsbook app for adults 21 and older, while legal sports betting remains off the table in Oklahoma.

Evercore says TraXion pre-registration tops expectations ahead of prediction market beta

Evercore Holdings says its TraXion platform has reached a development milestone, with pre-registration running ahead of expectations as the company works toward an initial public beta.

Utah dispute puts prediction markets under fresh scrutiny as Kalshi challenges state law

Utah’s new stance on proposition bets has opened a state-versus-federal fight over prediction markets, with Kalshi suing to block enforcement and lawmakers pushing for tighter rules.