Sometimes I look around me and wonder why everyone isn’t running around like chickens with their heads cut off. Because we are in the middle of what could be the biggest disruption in the history of American gambling, and that arguably includes the fall of PASPA. Am I sounding off too many alarm bells, or perhaps not enough?
That’s in today’s short podcast/rant from me.
Gambling industry reverse job board
Are you hiring for a role right now? Or are you looking for your next opportunity in the gambling industry? I run a free-to-use reverse job board with about 200 prospective hires across all segments of the industry. Take a look, and please share with anyone who is hiring or looking for work!
Gambling news roundup
Hawaii on the verge of legalizing sports betting after Senate approval (SBC Americas): “In a surprising turn of events, the Hawaii legislature has approved a bill to legalize sports betting and fantasy sports in the state. The bill, which already passed the House, will return to the House for concurrence since some elements of the bill changed. If the House approves, it would go on to Gov. Josh Green to sign. If Green signs the bill, it will be the first form of legal gambling in the state.”
I don’t think I can overstate how crazy it is that a state that has never legalized any form of gambling could jump into it with online sports betting as its first foray. If you had a bet on Hawaii being the first (and potentially only) state to legalize sports betting this year, you’d have made a pile of money. Of course, you can’t bet on that. Related, hey Kalshi, I need to be able to
bettrade on states legalizing forms of gambling. Who can I talk to about this?
Stifel: FanDuel Parent Stock ‘Best In Class’ Amid Recession Fears (Legal Sports Report): “Analysts at Stifel included FanDuel-parent Flutter in its list of ‘Best In Class’ stocks as concerns about a recession and tariffs rock the markets.
Flutter and IGT, a gaming supplier that touches all corners of the industry — including sports betting and online casino — were the two gaming stocks listed by Stifel in a report released Monday night. Royal Caribbean Group and OneSpaWorld rounded out the list of four.”
Maryland sweepstakes ban goes up in smoke as session ends (SBC Americas): “The 2025 Maryland legislative session has ended, leaving a proposed ban on online sweepstakes casinos dead in the water after early momentum. Sen. Paul Corderman’s SB 860 would have prohibited online or mobile games, contests or promotions that use a dual-currency system of payment and offer the chance to win cash or other prizes via casino-style gaming, lottery games or sports betting. … The session ending also means that a separate push in the Maryland legislature this year to introduce legal online casino gaming is also officially dead.”
These are being hailed as wins by the sweepstakes industry: “The Social and Promotional Games Association (SPGA) is celebrating a growing streak of legislative wins on behalf of American consumers, as lawmakers across the country reject misguided efforts to ban social and sweepstakes games.”
If you squint, I guess these are victories. The alternative of a bill to ban sweepstakes becoming a law would be a loss. However, the “wins” are 1. a ban that was scuttled because it was tied to online sports betting legalization (Mississippi) 2. An online casino bill with a sweepstakes ban that didn’t pass (Arkansas) and 3. A legislature wrapping up without passing a bill (Maryland). It’s not exactly the stuff of victory parades. But, at the end of the day, that’s three states that thought about a ban that didn’t end up acting. Drop the confetti.
More sweeps: Second lawsuit claims Stake.us is operating an illegal casino (SBC Americas): “The same law firm that successfully represented the plaintiffs suing High 5 social casino in Washington have filed another case, this time against sweepstakes operator Stake.US. An Illinois man, Brayden Urdan, has filed suit against Stake.US in the Northern District of Illinois, claiming that the company is running a copy of its real-money casino site Stake.com and masquerading as a free play site.”
Kalshi Gets A Win In Nevada Court, But How Big? (The Event Horizon): “Kalshi won a victory in its lawsuit against Nevada regulators in federal court on Tuesday. The scope of that victory remains to be seen, however. A judge in a Nevada district court heard arguments about whether Nevada should be stopped from enforcing a cease-and-desist order against Kalshi. … The judge wrote that ‘plaintiff's motion for TRO and preliminary injunction are granted in part.’ That seems to imply, pretty clearly, that Kalshi can continue to operate in Nevada, at least for now.
And some bonus content on the macro for states vs. Kalshi from an attorney following prediction markets legal wrangling, click through for more: “I legitimately don't know if the states will be able to stem the tide and protect their jurisdiction. Kalshi's well-crafted arguments plus (possible) CFTC backing makes for a strong hand. On the other hand, the legislative history of the CEA is clear that event contracts weren't intended to facilitate sports wagering, and courts are chary about intruding on states' rights.”
Many Politicians Want To Ban Gambling. So Why Are They OK With State Lotteries? (Reason): “What bothers me is the raw hypocrisy of the politicians.
The same bullies who want to ban gambling don't propose banning the worse form of it — their own state lotteries. ‘It's ridiculous,’ says Sorens. ‘You have politicians grandstanding [about gambling's harm]…and at the same time, they advertise a worse form of gambling!’”
I can quibble with some of the details and content in the actual post, but the top-line headline is at least a valid question.
North Carolina lottery player wins biggest digital instant jackpot in NC lottery history at $6.7 million (My Fox 8): “A lottery player from New Bern won the biggest digital instant jackpot in North Carolina lottery history on Tuesday with a $6.7 million prize, according to an NC Education Lottery news release.
The winner bought a $2 Monopoly ticket and instantly won the Grand Fortune jackpot.”
Lawmakers seek to ban prop bets on college sports in North Carolina (WRAL): “The NCAA supports limits on prop bets on college games due to harassment of athletes on social media.”
I am begging North Carolina lawmakers and the NCAA to read this thing I wrote LITERALLY YESTERDAY about all the ways I can bet on college sports and props outside of legal sportsbooks. Your “ban” isn’t doing anything about any of this.
The Current: The Absurdity Of The US Online Sports Betting Landscape
The landscape for “federally” regulated, quasi-regulated and unregulated sports gambling has gotten fairly absurd, as I am sure most of you who read this newsletter are aware. And with last night’s m…
Gambling newsletter roundup
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