New York Gov. Kathy Hochul has signed an executive order blocking state workers from using confidential government information to make money on prediction markets, calling the practice a threat to public trust.

The order was signed on Wednesday (April 22) in Albany and took effect immediately. It applies to covered state officers and employees. They are barred from using “any nonpublic information obtained in the course of their official duties” to seek gains or avoid losses through trades on prediction market platforms. They also cannot help other people profit by passing along inside information.

Violations can bring dismissal, other discipline, and possible referrals to law enforcement or ethics agencies.

“Getting rich by betting on inside information is corruption, plain and simple,” Hochul said in the state’s announcement. “Our actions will ensure that public servants work for the people they represent, not their own personal enrichment.”

Prediction markets let users buy and sell contracts based on whether future events happen. The governor’s office said those events can include “outcomes of military activity, election results, or the severity of natural disasters,” along with “obscure and manipulable events” such as “the attire of public officials at appearances” or “the volume of social media posts made by an individual.”

How the Hochul insider trading order reaches prediction markets

The executive order says ethics rules need to keep pace with newer trading platforms. It states that “the maintenance of public trust is founded on the principle that public servants are charged with using their positions to benefit the public good,” and that officials should not use access to government information “for personal financial gain.”

It also says the “recent proliferation of prediction markets” has raised the risk that people with privileged knowledge may try to profit by “trading on insider information.”

Each public authority in New York is directed to adopt matching policies for officers and employees who serve at the pleasure of the appointing authority. The order defines a prediction market as an exchange-traded platform or service not licensed or permitted by the New York State Gaming Commission, where participants trade contracts tied to future events including elections, sports, economic indicators, or the actions and speech of individuals.

The move lands as prediction markets face heavier scrutiny across the country. We previously reported the controversy around a Polymarket contract tied to Venezuelan leader Nicolás Maduro, where questions were raised about settlement decisions and whether insiders could benefit from opaque processes.

In a video statement posted on X, Hochul pointed to what she called “really suspicious bets with huge payoffs” including the Polymarket contract tied to Venezuelan leader Nicolás Maduro, markets on the timing and location of military actions in Iran, and even bets on the length of White House press briefings. She said insider trading in stocks has long been illegal, but argued similar conduct on prediction markets can happen with “zero consequences.”

She also drew a contrast with Washington, saying, “some in Washington think this is fair, but here in New York, we say no.”

The state has also been aggressive in policing other financial platforms. State regulators have pursued major crypto companies including Coinbase and Gemini in separate legal actions centered on compliance, disclosures, and consumer protections.

At the same time, state Sen. Joseph Addabbo Jr. has pushed legislation that would create a regulated path for prediction markets in New York, arguing oversight is better than leaving the activity offshore or unlicensed.

Hochul’s office said the order comes amid “increasing public scrutiny over the role of prediction markets and the need for further regulations of this emerging industry.” It also said New York is taking steps against platforms that engage in “unlicensed and unlawful gambling operations.”

Featured image: Marc A. Hermann / MTA / CC BY 2.0 / Canva

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Prediction-market exchange Kalshi has publicly identified three political candidates it says violated rules that bar traders from betting on contests they can influence. Their names appeared in formal enforcement notices after the company first announced the cases without identifying anyone.

Kalshi earlier published a company update titled “Enforcement update: Kalshi continues crackdown on political insider trading,” saying three investigations had been completed. The company wrote: “Today, we’re releasing notices related to three enforcement investigations.” It added that “All three cases concern political insider trading and were flagged because of our newly released safeguards to block political candidates from trading on their own elections.”

It described the punishments but did not name the people involved. Public disciplinary records linked to the update identified them as Matt Klein, Mark Moran, and Ezekiel Enriquez. 

Who are the alleged election candidates penalized by Kalshi?

Prediction markets appear to be pushing deeper into the worlds of politics and sport, raising urgent questions about whether they can truly guard against insider advantage. Critics warn that when candidates, campaign operatives, donors, or others with privileged access are allowed to trade on election-linked contracts, the integrity of those markets is immediately called into question.

Kalshi, for its part, says it is tightening the net. The company has stated stronger restrictions on politicians and athletes, increased automated surveillance, and improved reviews designed to identify conflicts before they can distort the market, following another two insider trading cases.

The company said the three matters showed how internal controls can identify improper activity. In its update, Kalshi said the cases demonstrated how “developing proactive engineering solutions can help identify illicit trading activity.”

Kalshi has also argued that prediction markets can function as information tools rather than gambling products. However, it depends heavily on confidence that insiders cannot profit from private knowledge or direct control over outcomes.

The three candidate cases

In the first matter, a settlement notice said Klein had “announced himself as a candidate for public office and was added as a market option for a contract on [election].” The notice continued: “As a candidate, Klein qualified as a direct decision maker for the contract and had direct influence on the outcome of the Underlying event.”

Kalshi said Klein then traded “in violation of Rule 5.17(z),” which prohibits users from trading on markets where they are a decision-maker or have influence over the outcome.

Under the settlement, Kalshi suspended Klein from direct or indirect access to the platform for five years and imposed a $539.85 financial penalty.

Klein is a Democratic Minnesota state senator and reported he admitted making a $50 wager. In a statement on X, Klein wrote: “In October 2025 I heard from friends that there was a prediction market site with wagers on my primary race. I had never wagered on a predictions market previously. I was curious about how it worked. I set up an account and bet $50 of my own funds that I would win the primary. 

!I was informed in March of 2026 that this was a violation of the platform rules. In compliance with their request, I paid a penalty and agreed to be suspended from the platform. That was the only wager I have ever made on a predictions market. This was a mistake, and I apologize.”

The second case involved Mark Moran. Kalshi alleged that “in November 2025, Moran was listed as a strike for the market ‘Who will run for public office this year?’” and that he “placed ten orders in this market on November 13 and 14, 2025.”

The notice said Moran later announced his candidacy for the Democratic primary for U.S. Senate in Virginia and was then added to another market, “Virginia Democratic Senate nominee?”

Kalshi further found that “on January 27, 2026, Moran placed two trades in this market and then promoted the market generally on social media.”

According to the company, Moran admitted the issue during a call. The notice states: “Moran acknowledged that these trades were improper and in violation of the Kalshi exchange rules.” It also said he later “repeatedly refused to resolve this matter via settlement and stopped responding to further correspondence.”

Kalshi imposed a five-year suspension and “a penalty of $6,229.30, plus disgorgement of any profits that resulted from the trading connected to this action.”

On X, Moran posted a video saying he intentionally placed a $100 wager to draw attention to the platform, and seemed to be less apologetic.

The third matter involved Ezekiel Enriquez. Kalshi said Enriquez “announced himself as a candidate for public office and was added as a market option for a contract on the Texas Republican primary election for Texas’s 21st Congressional District.”

The notice continued: “As a candidate, Enriquez qualified as a direct decision maker for the contract and had direct influence on the outcome of the Underlying event.”

Kalshi said the settlement established that Enriquez “purchased less than $100 worth of contracts related to his own candidacy, in violation of Rule 5.17(z).”

He received a five-year suspension and a $784.20 fine.

Increasing pressure on safeguards

All three actions cite the same rule. Kalshi Rule 5.17(z) states: “If a Trader is a decision maker, either directly or indirectly, or has any influence, directly or indirectly, no matter the scale and importance of the influence, on the outcome of the Underlying (event) of any Contract, that Trader is prohibited from attempting to enter into any trade, either directly or indirectly, on the market in such Contracts.”

Regulators and market skeptics have long questioned whether exchanges can detect conflicted traders quickly enough.

Featured image: Zeke4Texas on Instagram / Mark Moran via X / Dr. Matt Klein via X / Kalshi

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A federal appeals court has given the Comanche Nation a mixed but meaningful win in its fight over the Warm Springs Casino run by the Fort Sill Apache Tribe near Lawton, Oklahoma.

In a decision filed Tuesday (April 21), the U.S. Court of Appeals for the Tenth Circuit said part of the lawsuit can keep moving even after arguments that tribal sovereign immunity should block the case. Judges said the Comanche Nation may continue claims under the Indian Gaming Regulatory Act, known as IGRA, against Fort Sill Apache officials sued in their official roles.

The dispute began after Warm Springs Casino opened in 2022. According to the ruling, the Comanche Nation runs nearby gaming properties and claimed that “The resulting competition made the Nation’s casinos less profitable.”

The Nation asked the court to stop casino operations and award damages. The opinion says the Nation alleged the casino “was opened in violation of federal law.”

Writing for the three-judge panel, Circuit Judge Timothy Tymkovich said the court would “affirm in part and reverse in part.”

Why the Warm Springs Casino ruling supporting the Comanche Nation matters

The panel said “the Indian Gaming Regulatory Act (IGRA) abrogates the Tribe’s sovereign immunity defense, so the Nation can proceed with its official-capacity claims under IGRA.”

It keeps alive the central argument that Warm Springs Casino may be operating outside the Fort Sill Apache Tribe’s gaming compact with Oklahoma. The Comanche Nation contends the casino sits on land that does not qualify as Fort Sill Apache land under that compact.

Judges said the complaint alleges the Tsalote Allotment remains Kiowa land, not Fort Sill Apache land. At this stage, the court said it had to accept properly pleaded allegations as true.

The ruling also said the claim fits a federal provision allowing suits “initiated by a State or Indian tribe to enjoin a class III gaming activity located on Indian lands and conducted in violation of any Tribal-State compact.”

But the Comanche Nation did not win across the board. The judges rejected official-capacity racketeering claims under RICO that sought injunctions and declarations. The panel said the Ex Parte Young exception could not be used here because the complaint did not tie the named officials to ongoing casino operations.

As the panel put it, “Ex Parte Young does not help the Nation because its claims are not against officials charged with operating the casino.”

The court separately allowed individual-capacity RICO damages claims to continue, saying those claims target officials personally rather than the tribe itself. Because of that, judges wrote, “they cannot raise the Tribe’s sovereign immunity.”

The panel did not decide whether those officials might later assert qualified immunity.

The case now returns to the U.S. District Court for the Western District of Oklahoma. The decision lands amid wider tribal gaming battles, including a temporary casino deal involving Yocha Dehe, Vallejo, and Scotts Valley in California, and a paused northern California tribal casino lawsuit.

Featured image: Google Maps

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MGM Resorts International said Tuesday (April 21) it finished the sale of the operating business at MGM Northfield Park, wrapping up a $546 million all-cash transaction that hands control of the Ohio property to funds managed by Clairvest Group Inc.

The company announced the closing from Las Vegas and framed the move as another step in reshaping its holdings while unlocking money for other priorities. The sale had been expected and now formally removes the racino from MGM’s operating lineup.

Executives said the Northfield Park property had become a leading venue in its region and credited employees for sustaining performance in a competitive market.

“MGM Northfield Park is a market-leading property supported by a talented team that has consistently delivered outstanding guest experiences,” said Bill Hornbuckle, CEO & President, MGM Resorts International. 

“The property has a strong foundation, and we extend our best wishes to the team and new ownership for continued success in the next chapter of the property’s evolution.”

The transaction also changes MGM’s lease structure with VICI Properties Inc. MGM said its master lease, which previously included MGM Northfield Park, was amended at closing and will lower annual rent by $53 million.

After taxes and deal expenses, MGM expects to receive about $420 million in net cash proceeds. That gives the company additional flexibility as it weighs investments, debt management, and shareholder returns.

Chief Financial Officer Jonathan Halkyard said the sale showcases the strength of MGM’s operating assets while allowing the company to move on from a property it no longer views as core to long-term plans.

“The closing of this transaction underscores the value of MGM’s high-quality operations and provides an opportunity to divest a non-strategic regional asset at a significantly higher multiple than currently ascribed to our premium portfolio,” said Jonathan Halkyard, CFO, MGM Resorts International. “The proceeds will be deployed in line with our priorities of maintaining a strong balance sheet, selectively investing in growth opportunities, and returning capital to shareholders.”

MGM said Northfield Park produced roughly $142 million in adjusted EBITDAR for the year ended Dec. 31, 2025. The company noted that adjusted EBITDAR is a non-GAAP financial measure often used in gaming and hospitality to compare property-level performance.

Advisers on the sale included Jefferies LLC and SMBC Nikko Securities America, Inc. Legal counsel was provided by Weil, Gotshal & Manges LLP.

Northfield Park sale gives MGM more room for capital plans

The completed transaction adds liquidity while MGM continues to concentrate on larger resort destinations and digital gaming interests. The company has repeatedly said it wants to focus capital where returns can be strongest.

MGM Resorts operates casino and hotel properties across the United States and in international markets. It also holds online sports betting and iGaming interests through BetMGM and related brands, while pursuing a major integrated resort project in Japan as part of its Asia growth strategy.

Featured image: MGM Resorts via Facebook

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Resorts World New York City says it plans to open New York City’s first live table games casino on April 28, bringing blackjack, craps, baccarat and roulette to Queens in a major expansion beside Aqueduct Racetrack.

The start still depends on final testing by the New York Gaming Commission this week. If regulators sign off, the property says it will become the first place in the five boroughs to run live dealer table games.

A rebuilt third floor is set to debut with more than 240 tables and over 1,500 gaming positions spread across blackjack, craps, baccarat and roulette. Guests will also find more than 2,500 slot machines on opening day. The company says thousands of additional machines are expected later in 2026.

“New York City has never seen anything like what we’re planning for April 28. Once the Gaming Commission’s final testing is complete, live table games will be open and operating right here in Queens for the first time in the history of New York City. We are ready to welcome New Yorkers to this exciting new experience,” said Robert DeSalvio, President of Genting Americas East. 

“Resorts World now employees over 2,200 Team Members and have already doubled our workforce and expect thousands more Team Members as the integrated resort is developed over the next three years. This is a transformational moment for Resorts World New York City, and we cannot wait to share it with our fellow New Yorkers.”

Resorts World Queens casino hiring ramped up ahead of live tables opening

Ahead of the launch, Resorts World says it added 1,250 jobs, including 950 new table-game dealers. Most of those hires completed orientation during several sessions this week.

The company says its workforce now stands at about 2,200 people and could climb past 2,700 by summer as operations grow.

Executives also pointed out a local training pipeline. Resorts World says its Introduction to Gaming program began in 2022 and has trained more than 350 residents for gaming careers. It also says the Resorts World Dealer School has already trained and hired more than 400 local residents in Queens, with another 500 graduates expected by May.

A formal opening ceremony is scheduled for Tuesday, April 28, at 9:30 a.m. with plans calling for a ribbon-cutting and a ceremonial first roll of the dice.

The company says Genting Chairman KT Lim and NAS are expected to attend alongside elected officials, community leaders and other guests.

The property at 110-00 Rockaway Blvd. in Jamaica says it remains the city’s only casino-hotel and has generated nearly $5 billion for New York public education since 2011. It also includes the 400-room Hyatt Regency JFK Airport at Resorts World New York City, which opened in 2021.

The expansion arrives as New York moves toward awarding three downstate casino licenses. Resorts World has submitted a reported $5.5 billion proposal to redevelop the site into a larger integrated resort, and its community advisory committee recently advanced the bid to the next stage.

Featured: Whitmore Studios / Resorts World

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New York Attorney General Letitia James has opened what may become one of the biggest state fights yet over prediction markets, suing Coinbase and Gemini and accusing both companies of running illegal online gambling operations. The paired cases were filed in New York Supreme Court and ask judges for heavy financial penalties that could ripple across a fast-growing corner of crypto finance.

State lawyers say residents were allowed to stake money on sports, elections, and entertainment results without the gaming licenses New York requires for legal wagering. In the attorney general’s view, calling those products market contracts does not change what they are.

James said the companies cannot sidestep gambling law by changing labels, and that “New Yorkers deserve the protections that come with legal, regulated gaming.” Her office said it wants the court to force both firms to surrender profits, compensate consumers, and “pay fines equal to three times the profits the companies made through their illegal actions.”

The filings also ask for permanent court orders stopping the businesses from continuing in New York.

New York AG launches sweeping state investigation against Coinbase and Gemini

The complaints address how much direct testing state investigators say they carried out themselves. According to the filings, investigators placed about 22,000 bets on Coinbase and another 12,000 bets on Gemini over roughly two and a half months.

The complaints indicate investigators tracked how accounts were opened, how wagers were entered, what fees were charged, and how payouts moved back to users.

The timing matters because New York already runs one of the country’s most tightly controlled sports betting systems. Licensed mobile sportsbooks operate under strict rules, identity checks, and tax rates that have produced more than $1 billion a year for the state. Officials argue prediction markets cut around that structure while avoiding the same safeguards.

James has recently tied the spread of prediction markets to concerns often raised about sports betting expansion, especially risks for young men and vulnerable consumers. State Sen. Joseph Addabbo Jr., a key Albany voice on gaming issues, previously told ReadWrite that federally regulated event-contract platforms may be pushing into territory traditionally overseen by states.

The allegations against Gemini Titan and Coinbase

The Gemini complaint says Gemini Titan LLC rolled out Gemini Predictions in December 2025 and made the product available across the country, including New York. Prosecutors cite Gemini’s own statement that it was “now live across all 50 U.S. states.”

State lawyers say users could take positions on outcomes ranging from the Super Bowl to college basketball and reality television, including “Survivor Season 50.”

The petition argues Gemini “seeks to avoid the legal and financial consequences of New York’s close regulation of gambling by offering what is quintessentially wagering under the guise of offering ‘event contracts’ on a ‘prediction market.’” The state also claims the platform allowed users between ages 18 and 21 to participate, despite New York restricting sports wagering to those 21 and older.

The Coinbase case follows the same blueprint. Prosecutors say Coinbase entered the prediction market business in December 2025 and later said its products were “live in all 50 states.”

According to the complaint, users could wager on whether the New York Knicks would cover a point spread, who would win the Super Bowl, and college basketball games involving New York schools such as St. John’s.

The state also points to promotional marketing, including a “$1,000,000 Bitcoin prize pool” linked to correct Super Bowl picks.

Legal analyst Daniel Wallach said the lawsuits may mark the first time a U.S. law enforcement agency has accused a prediction market operator of violating the federal Wire Act through sports-event contracts offered across state lines.

The claim appears in both cases. New York argues the companies used interstate communications systems to transmit bets or information that helped wagers. The state included that federal angle because New York courts have previously said violations of federal law can qualify as illegality under Executive Law § 63(12), the statute James is using here.

Wallach noted that a 1999 New York decision, People v. World Interactive Gaming, recognized alleged Wire Act violations within that framework.

What the cases could change

Another eyebrow-raising feature of the Gemini matter is who is handling it. The lead attorneys named for the attorney general’s office are Brent Tomer and Alejandra de Urioste, both former trial lawyers at the Commodity Futures Trading Commission.

They previously helped lead the CFTC’s 2022 enforcement case against Gemini, which later ended in a $5 million settlement. After layoffs at the federal agency, they joined the New York attorney general’s office.

Their presence adds technical experience because the CFTC is the federal regulator most associated with derivatives markets and event contracts. This could matter if the defense argues these products belong under federal commodities law rather than state gambling law.

Wallach also said the Coinbase and Gemini filings may signal future pressure on Kalshi, the federally regulated exchange that has become central to the national fight over sports-event contracts.

He said New York may have held off because of pending litigation involving a request for a preliminary injunction. Once that issue is resolved, he said, pressure on Kalshi could rise, creating a domino effect.

Featured image: Gemini Titan / Coinbase / Pexels

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Kalshi went to federal court in Montana on Tuesday (April 21), asking a judge to stop state officials from using gambling laws against its federally regulated prediction market. The company says Montana is trying to shut down trading activity that falls under the sole authority of the U.S. Commodity Futures Trading Commission.

The filing seeks a preliminary injunction in the U.S. District Court for the District of Montana. On the same day, Kalshi also filed an unopposed request to pause case deadlines while both sides continue discussions. Defendants include Attorney General Austin Knudsen, the Montana Gambling Control Division, and other state officials.

Kalshi told the court state officials are “unconstitutionally threatening to prohibit trading on Kalshi’s federally designated contract market,” even though its contracts are “federally authorized” and Congress granted the CFTC “exclusive jurisdiction” over designated contract markets.

Kalshi runs a federally licensed exchange offering event contracts. The contracts let users trade on whether future events will happen, from economic data to elections and sports outcomes. The company argues those products are derivatives governed by federal commodities law, not sports wagers or gambling products controlled separately by each state.

According to the complaint, Montana regulators decided Kalshi’s offerings in the state “constitute illegal gambling” under Montana law and ordered the company to stop offering contracts to residents. The state warned that it “expect[ed]” Kalshi to “voluntarily comply” and that “[r]efusal to do so will result in legal action against Kalshi.”

Why Kalshi is asking for a preliminary injunction against Montana

Kalshi said Montana had previously agreed to a standstill in April 2025. Under that deal, the Gambling Control Division said it would “not initiate any civil or criminal enforcement against Kalshi during the pendency of” related Nevada litigation and would “defer any enforcement pending the outcome of the proceedings before Chief Judge Gordon in Nevada and any appeal to the Ninth Circuit.”

The company says those Nevada proceedings were still active when Montana sent a new cease-and-desist letter dated April 6, 2026. Kalshi says it received that letter on April 11, asked officials for clarification, but “received no response and filed the Complaint.”

In its latest brief, Kalshi argued Congress built a national framework for exchanges like its own, and letting states block trading one by one would break that system. The company cited legislative history saying that “different State laws would just lead to total chaos.”

The Montana case follows similar fights around the country. Kalshi has recently pointed to favorable rulings in New Jersey, Arizona, and Tennessee, where judges found the company was likely to succeed on arguments that federal commodities law preempts state gaming enforcement. It has also sued Iowa while challenging similar state actions elsewhere.

Kalshi says immediate relief is needed because Montana’s newest letter creates an “imminent threat” of enforcement. It asked the court to stop officials from enforcing Montana gambling statutes or “any other Montana law that attempts to regulate Kalshi’s exchange” while the lawsuit moves ahead.

Featured image: Kalshi / Canva

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Germany’s gambling regulator says it has intensified action against rapper Capital Bra after what it describes as repeated promotion of illegal online gambling across his social media accounts.

The Joint Gambling Authority of the Länder, or GGL, said on Monday (April 20) that an ongoing case centers on videos and livestreams in which the artist allegedly showed himself using unauthorized gambling services while encouraging followers to engage with them. The news comes after reports that he was rushed to the hospital the same day following an alleged drug overdose.

According to the authority, videos remained available on his channels after the streams ended, while banner advertising for related sites continued to appear. Regulators also allege he ran a comparison website that directed users toward illegal gambling providers.

German law bars advertising for illegal gambling under Section 5, paragraph 7 of the 2021 State Treaty on Gambling. The GGL says showing participation in unlawful gambling can itself function as marketing because it normalizes the activity and drives traffic.

How the illegal gambling crackdown grew against Capital Bra

The authority said it first opened proceedings in October 2025 over suspected illegal gambling advertising. It says a hearing notice received no response. A prohibition order followed, including the threat of a coercive fine, and regulators say that order also went unanswered.

The GGL then set a coercive penalty of 250,000 euros ($294,000). With assistance from West Hesse police, officials served the notice during one of the rapper’s club concerts in Wiesbaden last weekend.

“We are not deterred even by well-known names. Anyone who promotes illegal gambling must expect decisive regulatory action,” Ronald Benter, executive board member of the GGL, said in the statement.

The regulator says cases involving celebrities and influencers can be harder to enforce when individuals are difficult to contact or documents cannot be served easily. Even so, it says it will keep using available legal tools and police cooperation when needed.

Germany has recently warned consumers about newer forms of illegal social betting that can spread quickly online through community-style platforms and creator promotion. Officials say those offers may appear harmless or game-like while still exposing users to unlicensed gambling risks.

There has been increasing scrutiny of celebrity-linked gambling promotion internationally. Recent reporting has examined claims around high-profile streaming losses involving Drake and Stake, raising questions about whether sponsored personalities gamble with their own funds or promotional balances.

Elsewhere in Europe, regulators have also stepped up enforcement. Finnish authorities recently moved against two influencers over gambling marketing tied to possible fines of 30,000 euros, while the Dutch gambling authority took action involving influencer LeftLanePapi over illegal gambling promotion.

The GGL says its campaign is meant to protect consumers from sites outside state supervision. It warns those operators may lack player safeguards and can expose users to addiction, manipulated game presentations, and serious financial losses.

Featured image: Stefan Brending / CC-BY-SA-3.0 de

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A former finance manager for the Fresno Arts Council has pleaded guilty after federal prosecutors accused her of siphoning more than $1.8 million from the nonprofit, and spending part of the money to gamble at local casinos, pay for vacations, and cover other personal expenses.

Suliana Caldwell, 46, of Fresno, admitted one count of wire fraud in federal court, the U.S. Attorney’s Office for the Eastern District of California said. Prosecutors contend the losses mounted while she controlled key accounts and handled internal financial reporting.

According to court records, Caldwell worked as the council’s operations manager from 2021 until February 2026. The position gave her authority over bank accounts, payroll, grants, donations and other day-to-day finances.

She also assembled financial updates that were shared with the executive director, board members and local government officials.

Investigators say the theft started in 2022, when Caldwell began making “unauthorized transfers from the FAC’s bank accounts to her own personal PayPal and to her bank accounts.”

Prosecutors said the amounts grew sharply the following year after new public money reached the organization. The plea agreement says those transfers “increased significantly in 2023” after the council began receiving Measure P funds.

Measure P is a voter-approved Fresno tax measure that supports parks, trails, arts programming and other community projects. Federal prosecutors said the Fresno Arts Council received $9.4 million in August 2023, followed by another $5.7 million in October 2024.

How Fresno Arts Council manager hid money used for gambling and personal expenses

Federal prosecutors said Caldwell used a position of trust to keep the scheme from being detected. According to the plea agreement, she “altered and misreported the financial figures in the reports to make the reports appear as though no unauthorized transfers were occurring.”

They were then provided to council leaders and public officials as if they were accurate, prosecutors said.

The filing says that between June 2022 and February 2026, Caldwell took more than $1.8 million. It adds: “She then used the funds to gamble at local casinos, pay for vacations, and for other improper personal expenses.”

Investigators said Caldwell later met with the Fresno Police Department and the FBI on March 26, 2026. During that interview, authorities said, she confessed and described the organization’s financial procedures during her time there. Caldwell’s defense attorney, Kevin Rooney, told reporters outside the court: “Ms Caldwell had some emotional problems, alcohol problems, all of it spiralled into a gambling addiction.

“Ms Caldwell’s extremely distraught about what she’s done. It’s impacted her family; it’s impacted the Fresno Arts Council.”

When asked about the artists impacted by the theft, Rooney added, “I can’t speak exactly to what Ms. Caldwell would say. She’s very upset. It’s just unfortunate all around for the artists, for the community, for Ms Caldwell, for her family.”

The FBI and Fresno Police Department are investigating the case. Assistant U.S. Attorneys Cody S. Chapple and Joseph D. Barton are leading the prosecution.

Caldwell is scheduled to be sentenced before U.S. District Judge Jennifer L. Thurston on August 10, 2026.

She faces a maximum possible sentence of 20 years in prison and a $250,000 fine. Any final punishment will be set by the court after reviewing federal sentencing guidelines and the circumstances of the case.

Featured image: Suliana Caldwell via LinkedIn

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Fanatics Markets has introduced a new product called Combos, giving customers another way to trade sports outcomes as the basketball playoffs get underway.

The feature was rolled out Monday (April 20). It allows users to bundle multiple outcomes into one new contract inside Fanatics Markets. The selections can include player props, winners, spreads and totals. Customers can mix picks from different sports, different games, or keep everything inside a single matchup.

The launch adds to Fanatics’ push into prediction markets, an area the company entered in 2025 when it rolled out Fanatics Markets. Earlier reporting around the launch said Fanatics was moving into the space through a partnership with Crypto.com, in a bid to offer event-based trading tied to sports results.

How Fanatics Markets Combos works

Fanatics said customers can find eligible markets by looking for the combo icon, then building a custom contract from there. The company says Combos is currently available for professional basketball, baseball, hockey, soccer, football, boxing, MMA and tennis, with more sports expected later.

The company said it is launching the product “just in time for basketball’s postseason,” while making it usable across several major leagues at the same time.

Fanatics Markets is available on iOS and Android in 24 states and four U.S. territories. The company also says web access is offered in those same approved jurisdictions. Among the states specifically named were California, Texas and Florida.

The company says the platform runs on infrastructure provided by Crypto.com Derivatives North America, or CDNA, which Fanatics identified as a CFTC-registered exchange. Fanatics has argued that structure gives users a regulated venue to trade contracts tied to sports moments such as game winners, player milestones and championship outcomes.

The regulatory backdrop has drawn attention across the industry. Coverage this year also noted a Nevada court dispute involving Crypto.com, which may end up affecting the partnership.

Fanatics states it is also introducing consumer safeguards alongside the new product. According to the company, Fanatics Markets includes tools intended to help customers manage exposure and make informed decisions while trading.

This includes deposit limits, session limits, timeouts and self-exclusion options. The company says those settings are designed to support responsible use of the platform.

Featured image: Fanatics via Instagram

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A fight over prediction markets, federal authority, and Arizona gambling law is moving onto a slower track after all sides asked for more time, even as they continue arguing over what a temporary court order actually blocks.

In a joint status report filed Monday (April 20) in U.S. District Court in Arizona, the United States, the Commodity Futures Trading Commission, Kalshi, and Arizona officials said they had met under a prior court order and were updating the judge on scheduling.

Arizona asked to cancel the current May 6 hearing on the federal plaintiffs’ request for a preliminary injunction and reset it for June 3 or another date later in June. The state also said, “Defendants consent to extending the current Temporary Restraining Order through the hearing date and to such time as the Court decides the Motion for Preliminary Injunction.”

The temporary restraining order was issued earlier this month after a federal judge temporarily halted Arizona enforcement tied to the disputed contracts, preserving the status quo while the case moved forward.

The parties also noted that the Ninth Circuit Court of Appeals may soon rule in related consolidated appeals argued April 16. This involves similar clashes over event contracts and whether states can act against federally regulated markets.

Federal plaintiffs said they do not need another round of briefing. They told the court that “the best course of action would be to convert the TRO to a preliminary injunction and to stay the case pending a decision in the Ninth Circuit.” Kalshi said it agrees.

Arizona dispute over Kalshi scope remains amid delays

Arizona wants a fuller record before any injunction decision. State lawyers said the court would benefit from information “regarding standing and any financial, economic, commercial consequences associated with sports or election event contracts traded on designated contract markets.”

The state added that it expects witness testimony at the hearing and declarations with its opposition filing. Arizona also said supplemental briefing would help after the restraining order and recent appellate arguments. It plans to address “standing, merits (what instruments do or do not qualify as swaps, or as properly listed event contracts, and why), irreparable harm, and the balance of equities.”

Federal plaintiffs pushed back, saying the judge already has substantial briefing and heard argument on April 10. They said more briefing “would be duplicative, especially with the Ninth Circuit likely to issue a decision quickly.” Kalshi likewise said more briefing is unnecessary, though it wants to participate if future filings affect its interests.

The filing also touched on an intervention request from North American Derivatives Exchange, doing business as Crypto.com Derivatives North America. Arizona said it does not oppose intervention if the company joins the federal plaintiffs’ injunction request and avoids repetitive briefing. If approved, CDNA would be added as an intervenor-plaintiff, permitted to file its complaint in the consolidated action, and formally join the plaintiffs’ request for a preliminary injunction and temporary restraining order. Arizona said it does not oppose the move after receiving assurances that CDNA would avoid duplicative briefing.

Another major issue centers on the restraining order’s reach. Arizona said it reads the order as blocking new enforcement actions, but not investigations or subpoenas. Federal plaintiffs objected, arguing investigations burden federally regulated designated contract markets, unsettle traders, and interfere with the CFTC’s claimed exclusive oversight role. Kalshi said it agrees with that reading.

The Arizona case follows other recent rulings, including appellate decisions that favored Kalshi in disputes involving New Jersey and Arizona.

Featured image: Kalshi / Canva

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Evoke has confirmed it is talking with Bally’s Intralot S.A. about a possible takeover, ending days of market chatter around the debt-laden betting group that owns William Hill and 888.

The London-listed company said the early-stage approach values the business at 50 pence a share ($0.68). Investors have been watching for signs of corporate interest after a difficult stretch marked by tax pressure, store closures and questions over leverage.

In a stock exchange statement, Evoke said it “notes the recent media speculation and confirms that it is in discussions with Bally’s Intralot S.A. … regarding a possible offer for the entire issued and to be issued share capital of the Company at a price of 50 pence per share.” The company added that the proposal “is expected to comprise an all-share combination with a partial cash alternative.”

The board said there “can be no certainty that an offer will be made or as to the terms on which any offer might be made,” and said shareholders “are advised not to take any action in relation to the Proposal.” Evoke said its board is evaluating the approach with advisers Morgan Stanley and Rothschild & Co.

Under takeover rules, Bally’s Intralot has until 5 p.m. London time on May 18 to announce a firm offer or step away, unless Evoke agrees to an extension.

Pressure has been building for Evoke in recent months after UK Budget as Bally’s floats takeover

The bid interest arrives after months in which Evoke has openly reviewed its future. In December, the company launched a strategic review that said it would consider “a range of potential alternatives to maximise shareholder value,” including “a potential sale of the Group, or some of the Company’s assets and/or business units.”

It came after warnings that UK tax changes would squeeze earnings and make trading tougher across the regulated market.

In January, we reported Evoke posted its strongest quarter of the year, with fourth-quarter revenue of £464 million ($627 million), while chief executive Per Widerström criticized the UK Budget for dealing a “significant blow to both evoke and the wider regulated industry.”

In December Evoke had begun a formal review of its future direction as pressure mounted from tax increases and planned store cuts across the group.

Retail operations have already been shrinking. In October, we found that William Hill planned to close around one in ten of its UK betting shops during 2026.

The potential buyer itself has also been reshaped. Bally’s completed a $3 billion merger deal with Intralot in October, giving Bally’s a controlling position in the enlarged business and access to Intralot’s international lottery and digital technology assets.

The American corporation based in Rhode Island, entered Europe last year when it bought Aspers Casino in Newcastle. In the same year, hedge fund Standard General completed its $4.6 billion takeover of Bally’s Corporation. It appears to be increasing its digital footprint in the UK market.

For now, no firm offer has been agreed and talks remain conditional.

Featured image: Hermann Luyken via WikiCommons / CC0 1.0 / WythenshaweMike via WikiCommons / CC BY 3.0

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Online gambling ads faced a tougher year in 2025 as Google stepped up enforcement across its network. The company says it blocked or removed 270.7 million gambling and gaming ads for breaking policy rules, putting the sector among the most heavily penalized categories in its latest Ads Safety Report.

That total trailed areas such as financial services and sexual content, but it was higher than enforcement tied to alcohol and healthcare advertising. The numbers appear to show how hard it has become for platforms and regulators to police a betting market that keeps growing across borders and devices.

Google also said it restricted 123.9 million gambling and gaming ads rather than removing them outright. In practice, that can mean an ad was limited by country, age gate rules, licensing status, or other local compliance checks before users could see it.

Across every category, Google reported blocking or removing 8.3 billion ads in 2025. The company said more than 99% of violating ads were stopped before they were shown, reflecting its heavier use of automated detection systems and AI review tools.

Google gambling ads policy changes widened oversight in 2025

The company said it took action on 9.7 million web pages for paid online gambling violations, making gambling one of the larger publisher policy issues it handled during the year. This can involve pages promoting unlicensed operators, misleading offers, or content targeting restricted audiences.

Google also spent the year rewriting rules for advertisers in the sector. It tightened certification requirements for gambling and gaming campaigns, adding stricter checks around operator licensing and who is allowed to promote betting products. Certification has become central because advertisers often need approval before campaigns can run in regulated markets.

Another update expanded limits on offline gambling promotion in 35 countries, which affected ads connected to physical venues and in-person wagering where local laws or licensing standards required tighter controls.

The company separately moved to limit ads tied to prediction markets beginning in January 2026, signaling that newer wagering-style products will receive closer scrutiny as they spread online. Prediction markets have drawn attention because they can resemble betting products while operating under different legal frameworks.

Google has also changed how it treats sweepstakes-style games, removing some social gaming classifications that previously gave certain advertisers more flexibility. Industry observers say that it closes loopholes where chance-based products could market themselves as casual entertainment instead of gambling-adjacent services.

The tech giant has been responding to pressure from regulators, including those in the Netherlands, who have called for stronger action against illegal online gambling ads, saying it requires advertisers to comply with local licensing laws and certification standards before campaigns can run.

Featured image: Google via X / Canva

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The Lumbee Tribal Council voted Thursday night (April 16) to move a constitutional amendment forward that would allow gaming on Lumbee tribal land, setting up a future vote for tribal members after hours of testimony and debate.

Council leaders said the proposal is meant to put the final decision in the hands of Lumbee citizens and could open a path to long-term economic growth. Critics said the language could shift too much authority to tribal leadership, reduce direct voter control and expose the tribe to outside federal influence.

After a late roll-call vote, council members announced they had cleared the required two-thirds threshold. “We have met the two-thirds quorum. At this time, the amendments passed,” the speaker declared to applause.

The measure now goes to the Lumbee membership for a referendum. Council officials said “a yes vote is for the authorize the tribe into gaming,” while a no vote would leave the constitution unchanged.

Lumbee gaming supporters and critics make their case

Backers told the council that gaming revenue could provide dependable funding for housing, health care, education and other tribal priorities.

Andrew Jacobs of District 11 called gaming the strongest available option for future prosperity.

“No other opportunity will provide consistent unrestricted revenue to service our people,” Jacobs said. “I see no other mechanism to ensure prosperity for future generations other than implementing gaming and judiciously allocating the revenue it generates.”

Darren Dees, a retired veteran from District 5, said the issue reaches beyond casinos.

“It’s not about gaming,” Dees said. “It’s about the opportunity, the sovereignty and the future of our people.”

He added that many tribes have used gaming “to fund education, healthcare, strengthen infrastructure and preserve the culture.”

Chairman John Lowery strongly backed the proposal and said tribal needs continue to grow.

“The people demand our services. The people demand our programs. The people demand that we do more every day,” Lowery said. “The days of a $20 million budget and the days of a $40 million budget can be behind us.”

He urged members to think bigger, asking, “Imagine what you can do with a $540 million budget.”

Lowery also said gaming proceeds could support senior centers, youth services, addiction treatment and new housing. Previous reporting has noted possible casino plans in North Carolina if the tribe secures the legal and regulatory approvals needed to proceed.

Opponents said they were not all against gaming itself, but objected to the structure of the amendment.

“As it’s written, it would give the power over appointments to gaming boards to the chairperson,” one speaker said, adding that those appointments would shape “all aspects of our gaming compact and revenue allocation plans.”

Frank Cooper from the Eastern Band of Cherokee Indians, warned, “This should not be approved without careful consideration of how that will allow the United States Department of Interior to approve or disapprove our Constitution.”

Public Schools of Robeson County representative Bosco Locklear said, “Sovereignty is not just about the council, it’s about the whole tribe.”

Lumbee Tribal Council member Anita Blanks asked, “How in the world are we supposed to decide whether we agree?” She added, “Can we not have meaningful input into these documents … if we can’t even see them?”

Before the vote, the speaker defended the process, saying, “Instead, we’d like to give the membership the opportunity to make that decision.”

If voters approve the measure, leaders said the tribe would begin land-into-trust work and coordinate with the National Indian Gaming Commission under federal law.

Featured image: Canva

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DraftKings is lining up for Alberta, and the timing says as much as the announcement itself. The company disclosed on Thursday (April 16) that it plans to bring its sportsbook and casino products to the province, subject to licensing. Alberta is preparing to open a private online market, making it only the second province after Ontario to take that route.

In its release, DraftKings said it “today announced its intent to launch its online sports betting and casino products in Alberta, Canada, pending licensure and regulatory approval.” The company added: “If granted approval, DraftKings Sportsbook and Casino intends to be available on the province’s anticipated universal launch date of July 13, 2026, as set by the AGLC.”

The planned debut arrives while Canada’s courts are still debating whether Ontario’s competitive model fits within federal law. Several provincial lottery corporations challenged Ontario’s framework, arguing private operators should not be allowed to participate under the current structure.

DraftKings enters Alberta amid wider Ontario legal battle

Ontario’s system has become the country’s biggest test case for regulated competition. It attracted large brands including DraftKings, FanDuel and BetMGM, while other provinces largely kept lottery-controlled models in place.

DraftKings pointed out that “Alberta would represent the second province in Canada where DraftKings operates mobile sports betting and casino products, alongside Ontario.” It added that Alberta would be the company’s “34th jurisdiction in North America” for online sports betting.

The legal backdrop grew more interesting after Ontario’s Court of Appeal ruled that online gambling can legally be operated from outside Canada while still serving Ontario players, a decision seen as supportive of the province’s current framework. It did not end the dispute, however, because the matter moved on to the Supreme Court of Canada.

Alberta has joined that case as an intervener. For some operators, it could mean that the province is moving ahead with licensing and launch planning while also defending the concept of a competitive provincial market. As a result, there’s a chance that it could lower hesitation around staffing, payments, compliance work and customer-acquisition spending.

DraftKings executives also sounded confident about demand. Greg Karamitis, Executive Vice President and General Manager of Sports at DraftKings, said: “We’re excited about the opportunity to expand DraftKings’ footprint in Canada and bring our online sportsbook and casino experiences to customers in Alberta.” He added: “With the anticipated launch aligning with the World Cup — hosted right here in North America — it’s a particularly exciting moment for sports fans in the province to engage with our platform.”

The World Cup reference is telling. DraftKings appears to view Alberta as a market that could generate immediate activity rather than a slow-build expansion.

Featured image: DraftKings

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Michigan has signed off on a new online betting operator, giving bet365 permission to enter the state through a partnership with the Little Traverse Bay Bands of Odawa Indians.

The approval was announced Friday (April 17) by the Michigan Gaming Control Board. It allows Hillside Michigan LLC, doing business as bet365, to become the tribe’s internet gaming and internet sports betting platform provider. The tribe runs Odawa Casino in Petoskey.

This fills the opening left after PokerStars recently departed the Michigan market. Players who used the previous platform now have another major international brand preparing to compete for their business.

State officials said bet365 completed the licensing checks and regulatory steps needed before launch. With that process finished, the company can legally offer online casino games and sports wagering for the tribe in Michigan.

The company arrives with an established profile in North America. bet365 already operates in nearby Ohio and in Ontario, giving it regional experience before entering one of the larger regulated U.S. online gaming states.

“This approval reflects our continued focus on maintaining integrity, transparency, and consumer protection in Michigan’s online gaming and sports betting marketplace,” said MGCB Executive Director Henry Williams. 

“We are pleased to welcome bet365 as the Tribe’s new platform provider and look forward to seeing the Little Traverse Bay Bands of Odawa Indians continue to provide a safe, responsible, and enjoyable wagering experience for players across the state.”

Compliance rules stay in force as bet365 enters Michigan

Regulators said the approval does not reduce any operating obligations for either bet365 or the tribe. Both sides must continue following Michigan law and the board’s ongoing requirements.

This includes limiting offerings to games and wager types the board has approved. The regulator also reported that they must work with approved suppliers, use registered vendors, and rely on authorized cashiering locations where required.

Officials added that internal controls, published terms and conditions, and change-control procedures must remain board approved. Taxes, payments, and licensing fees also must be submitted on time under Michigan’s Lawful Internet Gaming Act and Lawful Sports Betting Act.

The board said it will keep monitoring licensed operators and service providers to make sure they meet standards tied to compliance, responsible gaming, and customer protection.

Michigan’s online market has grown steadily since legal internet casino gaming and sports betting began, making new operator entries closely watched by competitors and players alike.

In recent months, FanDuel was approved for a multi-state poker network in Michigan, as the board continues to crack down on illegal offshore gambling sites.

Featured image: bet365 / Canva

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The UK High Court has thrown out the legal attack on the award of the fourth National Lottery license, handing an important courtroom win to the Gambling Commission and operator Allwyn. The decision closes, at least for now, one of the longest and most expensive rows linked to one of Britain’s biggest public contracts.

Richard Desmond’s businesses, Northern & Shell and The New Lottery Company, brought the case after failing to secure the license. They were seeking damages of as much as £1.3 billion ($1.8 billion). Their argument was that serious mistakes were made during the 2022 bidding contest and that later adjustments to the license terms should have forced the regulator to start the process again.

The judge, Mrs Justice Smith, rejected every part of the claim. In a detailed ruling, she said the Gambling Commission had conducted a lawful and fair competition. She also found the claimants had not shown any decisive error that would have changed the outcome. Separate arguments that Camelot or Allwyn should have been excluded from the contest were also dismissed.

Mrs Justice Smith also criticized the way the claimants handled parts of the case. In her judgment, she said the Process Claim had been pursued “in an apparently unfocused manner,” with several issues dropped at different stages, including during closing submissions.

She added: “The extent of this moveable feast was regrettable and (given the legal resources available to the Claimants) inexcusable.” The judge said the changing arguments had led to “significant time being wasted by the other parties in dealing with issues which were subsequently abandoned.”

The court also stated the value of the license, describing it as “a 10-year exclusive licence to run an internationally high-profile lottery brand as an effective monopoly, worth over time in excess of £1 billion to its operator.”

Mrs Justice Smith also pointed to the wider national role of the lottery, calling it “something of a national institution, recognised the length and breadth of the country.”

Setting out the scale of public benefit involved, the court said the National Lottery has “raised more than £50 billion for Good Causes,” with funding distributed through more than 650,000 awards as of June 2025.

Allwyn and Gambling Commission’s dispute against National Lottery

The fight has hung over the handover of the National Lottery ever since Allwyn was chosen as preferred bidder in 2022. The company formally took control in February 2024, ending Camelot’s three-decade run after operating the lottery since its 1994 launch.

Before this latest setback, Desmond’s side said it had spent millions preparing its bid and had lost the chance to run the lottery because the process was unfair. This was only one strand of wider litigation around the competition. Camelot and technology partner IGT had also launched earlier legal actions tied to the same license award.

The judgment matters beyond the courtroom because Allwyn has faced separate pressure over delivery of promises made in its winning proposal. Reports last year said the Gambling Commission was considering possible enforcement action after the company missed a contractual milestone linked to technology upgrades and wider modernisation work.

Allwyn has said delays stemmed partly from the sheer scale of replacing ageing systems and partly from the litigation that slowed the rollout of the fourth license. The operator has pledged more than £350 million ($473 million) to overhaul the National Lottery platform and says it wants to increase money raised for good causes.

The ruling appears to remove a major legal cloud for Allwyn as it works through its operational challenges. It may also give the regulator greater certainty as it continues overseeing the current license and future investment plans.

The Gambling Commission welcomed the outcome, saying it confirmed the integrity of the competition and allowed work on the National Lottery to continue without further distraction. Allwyn said the judgment drew a line under years of allegations surrounding the award process.

Desmond’s companies have indicated they intend to appeal.

Featured image: Gambling Commission

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A New York resident identified as John Doe has sued Stake.com, Stake.us, Coinbase and related companies in New York State Supreme Court, accusing them of helping run years of illegal online gambling that he says started when he was still a child.

The case was filed in Manhattan. It says the plaintiff began using the defendants’ platforms while underage, kept gambling for years, and suffered serious financial and emotional fallout. “This case is about the promotion and operation of an illegal offshore gambling platform, Stake.com, to target and acquire minor users, including Plaintiff,” the filing states.

According to the complaint, the plaintiff says he used Stake.com and Primedice from ages 13 through 19. He says he lost his own savings, then turned to his father’s credit card without permission after running out of money. The suit says gambling damaged school performance, strained family relationships and disrupted the start of adult life.

The filing says the plaintiff was “unable to study or concentrate through high school because gambling was ‘the only thing that felt fun.’” It also says that after enrolling at Indiana University, he withdrew within a week because he had already lost his available funds and could not pay for food or necessities.

Underage gambling claims against Stake and Coinbase 

Named defendants include Medium Rare N.V., which does business as Stake.com; Sweepsteaks Ltd., which does business as Stake.us; affiliated entities; founders Bijan Tehrani and Edward Craven; and Coinbase, Inc. plus Coinbase Global, Inc.

The lawsuit says Stake-related companies allowed minors to wager and used marketing designed to pull in younger users. It points to livestreams, celebrity endorsements and influencer promotions as tools used to build U.S. traffic.

Coinbase is described as a central payment bridge that allegedly let customers turn dollars into cryptocurrency and send funds to offshore gambling accounts. “Coinbase acts as its essential ‘cashier’s cage,’” the filing says.

The plaintiff says Coinbase kept his account active despite warning signs and continued handling transfers tied to gambling. The complaint adds that Coinbase “provided the compliance evasion mechanism necessary” for the gambling operation to bypass New York restrictions.

The filing arrives as pressure grows around sweepstakes casino operators. Recent New York action has moved to ban online sweepstakes casinos, while other lawsuits have challenged Stake.us advertising and legality. One Missouri case targeted Stake.us and promoters including Drake and Adin Ross, and another report noted a separate Stake.us dispute being sent to arbitration after a court decision involving sweepstakes platforms.

The complaint says the plaintiff has since been diagnosed with compulsive gambling disorder and panic disorder. It says he attends four Gamblers Anonymous meetings each week, spends about 10 hours weekly in therapy and works daily with a sponsor.

It also says his father now manages his finances, checks receipts and provides limited spending money to reduce relapse risk.

“This is a system built to recruit children and profit from their addiction,” said Seeger Weiss Senior Partner David Buchanan, who is part of the plaintiff’s legal team. “Our case lays out how these defendants built an illegal gambling pipeline — from the paid influencers who targeted children on gaming platforms, to the offshore casino that refused to verify their ages, to the crypto exchange that moved their money. Thankfully, the courts are the one place these defendants can’t VPN their way out of accountability.”

The plaintiff is seeking damages and injunctive relief under New York common law and consumer protection statutes. A jury trial has been demanded.

Featured image: Stake / Coinbase

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Maryland wrapped up its 2026 legislative session without approving two bills targeting sweepstakes-style gaming, keeping a familiar fight unresolved for at least another year.

The measures, HB 295 and HB 1226, both cleared the House of Delegates. Neither one made it through the Senate before lawmakers adjourned on April 13, which ended their chances this session. The split mirrors what happened in 2025, when a Senate-backed ban proposal stalled once it reached the House.

The result was quickly celebrated by the Social Gaming Leadership Alliance, which represents companies in the sector and argues its members operate legally while providing consumer safeguards.

In a statement sent to ReadWrite after the session ended, Managing Director Sean Ostrow said the group spent months pressing that case with lawmakers.

“We are pleased with this result in Maryland and want to thank the Maryland lawmakers who took the time to thoroughly consider this issue. 

“Over multiple hearings and dozens of meetings, SGLA addressed false allegations by casino interests by demonstrating that the Social Plus industry already offers strong consumer protections and contributes to Maryland’s economy, while pushing back against efforts to misrepresent long-standing lawful activity as gambling,” he said.

“We are eager to work with lawmakers and regulators in 2027 to codify SGLA’s best practices for the broader social games industry, which can generate significant tax revenue while keeping consumers safe online.”

The alliance described the outcome as a win for a business category that remains active in Maryland’s digital economy, even as lawmakers continue debating how it should be regulated.

Why the fight over Maryland sweepstakes bills is continuing

Pressure on the market has not disappeared. Earlier this year, HB 1226, titled the Maryland Illegal Online Gambling Enforcement Act, drew notice because of how it was written.

We previously reported the bill would have allowed the attorney general to send cease-and-desist orders to sweepstakes operators and maintain a public list of sites that received them. The proposal also reached beyond operators themselves.

Platform providers, hosting companies, payment processors and credit card issuers could have been affected, raising questions among legal observers about how far Maryland could extend its enforcement powers.

The state has already shown it is willing to act against companies it says lack authorization. In November 2025, the Maryland Gaming Commission sent cease-and-desist letters to Chumba Casino and Lucky Land Slots.

Regulators said those sites were offering games involving chance and prizes without legal approval in Maryland. The commission gave both companies 10 days to respond and explain how they would stop operating in the state.

Opponents of online gambling have also tried to show public resistance. A statewide poll released in October 2025 by the National Association Against iGaming said 71% of Marylanders opposed some form of online gambling after respondents were given more information about round-the-clock smartphone casino access.

For now, operators will continue doing business while both sides prepare for another round in 2027.

Featured image: Canva

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The Commodity Futures Trading Commission (CFTC) came to the House Agriculture Committee on Thursday (April 16), hoping to talk about market integrity and fraud. Instead, it got dragged into the much messier question hanging over prediction markets, i.e. when does a “financial product” start looking suspiciously like a sportsbook in a blazer? The answer, judging by the CFTC hearing, is right about the moment lawmakers start saying “Jose Altuve home run prop” out loud.

The tension has been building for months. The CFTC has been pushing new guidance and a formal rulemaking process for prediction markets even as the larger fight over whether these contracts are legitimate exchanges or just gambling with better stationery keeps escalating. At the same time, Kalshi has been expanding deeper into sports-style offerings, including contracts on touchdowns, point spreads and total scores, pushing the industry closer to the exact kind of betting state and tribal regulators say is already heavily regulated for a reason.

Rep. Gabe Vasquez argued that prediction markets and sportsbooks may be sold under different labels, but the average user may not notice the difference. 

“The odds are functionally the same,” Vasquez said, and “consumers couldn’t care less if they’re using an official sports book or engaging with a prediction market.” That was less a question than a blunt summary of the political problem now facing the CFTC.

Tribes say they played by the rules. Prediction markets may not have

Vasquez then made the tribal-sovereignty argument in unusually concrete terms. Tribes and states, he said, spent decades building gaming systems with “compacts, licensing, integrity rules, age verification, and consumer protection.” So when a federal regulator allows prediction markets to operate outside that structure, he said, “it undermines tribal sovereignty and state protection.” He pointed to the Pueblo of Laguna and said communities are losing revenue that helps pay for “childcare, education, infrastructure, and the overall well-being of their community.”

This appears to line up with the legal and political fight now underway across the country. Twenty-seven states have backed tribal appellants in a federal case against Kalshi, and we previously reported that tribes argue federally regulated prediction markets threaten the compact-based structure created under the Indian Gaming Regulatory Act. 

Tribal gaming experts who spoke to us said prediction markets are pushing into territory long governed by state-tribal arrangements, while Indian Gaming Association Chairman David Z. Bean called them “an attempt to bypass tribal authority and recast gambling as a financial product.”

Then Vasquez delivered the line that seemed to sum up the hearing’s conceptual headache. “Airlines hedge fuel costs, farmers hedge crop prices—that is very different from putting money on the outcome of a baseball game,” he said. He asked whether a market on “whether, as an example, Astros second baseman Jose Altuve hits a home run in tonight’s game against the Rockies” hedges “any real economic risk.”

CFTC Chairman Michael Selig did not exactly grab that hanging curveball and smash it into the gap. “Congressman, there are many risks that could be hedged through various contracts in our markets,” he replied. “The bottom line is that these markets need to be well-functioning and comprehensively regulated by the CFTC. Our statute mandates it and we’ll continue to do it.”

In a recent Wall Street Journal op-ed, Selig argued that prediction markets are not gambling but federally regulated event contracts with a “legitimate economic function,” and as we stated, the CFTC’s filing of a friend-of-the-court brief supporting Crypto.com in Ninth Circuit litigation. The awkward part for Selig is that these lofty hedging arguments now have to coexist with the fact that firms are offering products that look an awful lot like sports wagers with the serial numbers filed off.

CFTC prediction markets hearing sparks corruption clash

The hearing got even pricklier when Rep. Jim McGovern brought politics into it with a shovel rather than a spoon. McGovern noted that “the president’s son is on the board of both multi-billion dollar prediction market companies,” then added, with all the subtlety of a brick through a window, “it seems to me like the only reason two competing companies hired the same person is because they think he must be really, really, really valuable.”

There is at least some factual foundation for the political line of attack. In August 2025, Donald Trump Jr. joined Polymarket’s advisory board and also invested in the company via 1789 Capital. Trump Jr. is also an adviser to Kalshi, while Kalshi board member Brian Quintenz was nominated as Trump’s pick to head the CFTC, before Selig was confirmed.

So McGovern asked the question everybody in the room knew was coming: “has anybody in the White House ever asked or insinuated that you should drop the CFTC’s probe into Polymarket?” Selig snapped back that “we treat all market participants alike,” that the agency does not “pick winners and losers,” and that “it’s insulting that you’re insinuating that we would play political games.” 

McGovern, unmoved, replied: “No, I’m wary because it smells like corruption. I’ll be honest with you.” Once a hearing gets to “smells like corruption,” nobody is really pretending it’s a routine oversight session anymore.

One commissioner, no problem, says one commissioner

There was also the small matter of whether the CFTC is actually staffed to referee all this. Reuters reported that Selig testified while serving as the only sitting member of what is normally a five-member commission, and said the agency would not wait for the other four seats to be filled before issuing new regulations. “We cannot, for the sake of the American people, slow down in our rulemaking,” he said. The news outlet also noted the CFTC is overseeing an increasingly complex set of markets, including futures, swaps, event contracts and likely a bigger digital-assets role.

Selig nonetheless tried to wave away concerns about capacity. He told Rep. Shontel Brown that “a lot of that fake news out there about us being under-resourced is incorrect,” adding: “There are certain vacancies that we are filling. That does not mean that we don’t have the resources and staff to fulfill our mission.”

However, in February that five Democratic senators said they were “deeply concerned” that the CFTC’s Chicago enforcement office had shrunk from 20 enforcement attorneys to none, and asked for answers on vacancies, staffing levels and whether resources were being shifted to preserve enforcement strength.

Put all of that together, and Thursday’s hearing looked less like a clean debate over market structure and more like a stress test for the CFTC’s entire theory of prediction markets. 

Lawmakers are saying the products look like sports betting. Tribes and states are saying they blow a hole through long-settled gaming law. Critics are flagging political connections. And Selig, alone on a five-seat commission, is insisting that everything is under control and the referee still has the whistle.

That may be true. But on Thursday, Capitol Hill sounded unconvinced — and more than a little annoyed that the nation’s most fast-growing “financial innovation” keeps looking like gambling wearing a lanyard.

Featured image: House Committee on Agriculture via YouTube

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