sports betting News & Analysis
2 articles
Market Mood
American Gaming Association Reports States Lost $1 Billion in Revenue
The American Gaming Association estimates states have missed over $1 billion in tax revenue due to the rise of prediction markets. President Bill Miller emphasized the impact on community funding from regulated gambling taxes, indicating significant revenue loss for states and tribes. The Commodity Futures Trading Commission (CFTC) governs these markets, which are viewed by some as unregulated sports betting. While lawsuits are ongoing between states and prediction market platforms, the CFTC asserts its regulatory authority, complicating the landscape for both sides. Key figures include the U.S. gaming industry's record revenue of $78.7 billion in the previous year.
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High Roller Technologies (ROLR) Stock Surges 80% on Crypto.com Deal
High Roller Technologies (ROLR) saw its shares jump more than 80% on Tuesday after announcing a partnership with Crypto.com Derivatives North America (CDNA) to launch a prediction markets offering. Analysts estimate this sector could generate $1 trillion in annual trading volumes by 2030. Shares traded at $6.63, marking an 80% increase over the last five trading days, although they fell over 10% on Wednesday. The deal positions ROLR as a key player in a rapidly growing market focused on compliant event contracts across various sectors.
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