The CEO of Kalshi says the prediction markets exchange should not be treated as a gambling operation, in part because the U.S.-based company doesn’t make money from losing bets.

Kalshi last year won the right to offer election event contracts and is now quickly expanding its sports event contracts in all 50 states, including the 11 states where sports betting is still illegal. The move comes just two days after the platform launched betting on NBA playoff games. The first two games attracted about a million dollars in trading volume at Kalshi.

Kalshi has not yet launched single-game markets for hockey games in the NHL, which would be the next natural market to launch.

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In the first-quarter Iowa again surpassed our expectations by recording a sports betting handle of  $794.0 million up 6%.

This milestone is the highest the state has recorded since 2023 and marks the third time the state’s betting handle surpassed $1 billion. This surge shows how successful the sports betting industry has been in the state.

The online age is certainly here, and Ohio’s sports bettors enjoy betting on their devices more than queuing at a brick-and-mortar sportsbook. According to data from the Ohio Casino Control Commission, of the $1 billion handle wagered in January of 2025, roughly $992 million came from online sports betting. With retail bets amounting to just $19 million during the same period.

However, sportsbooks generated $81.1 million in taxable revenue – 28.6% lower than in January last year. While the year-on-year return was lower, this is still 42% above December’s revenue. To put that into perspective, Ohio’s monthly taxable income record was set in January of 2023, when $209 million was collected from sports betting taxes.

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BetMakers’ commercial agreement with Hollywoodbets includes access to our RaceOdds product, a powerful all-in-one fixed odds wagering solution that combines BetMakers’ price management and automated trading strategies with its proprietary rating and pricing model.

Under the agreement, BetMakers will also supply Hollywoodbets with official data services from a variety of rights holders, as well as providing access to the best-in-class Racelab content.

Wayde Dorkin, Head of Product at Hollywoodbets, commented, “We believe that BetMakers’ RaceOdds solution will take the Hollywoodbets Racing product to even greater heights. The solution allows us to offer over 335,000 races a year to our customers and ensures we have content consistently available across the three codes. This collaboration helps us provide an unparalleled experience to our valued customers”

Lucas Hopkins, Head of Commercial at BetMakers, said, “BetMakers is very pleased to onboard the market leading South African bookmaker, Hollywoodbets. As our global reach expands, it’s important to have high quality partners showcasing our products to the world and this is a definite case in point. It’s been a pleasure to work with Wayde and the team over the last few months and we look forward to sending them live shortly”

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In all, bettors wagered $556,836,877 during the month, according to figures released by the Virginia Lottery on April 1. That was down from the $736,667,692 in action placed during January in a month-over-month comparison. The February handle was also up 2.2% from the February 2024 total of $545,068,429.

Mobile sports wagering apps accounted for nearly all the betting traffic, with the 14 approved operators taking $553,017,829, or 99.3%, of the wagers. That was a 24.3% decline from the $730,489,687 in action they accepted in January, but it was 2.8% better than the online handle of $540,138,289 from a year earlier.

Revenue slipped by a similar margin, indicating sportsbooks enjoyed a strong month against bettors. Operators reported adjusted gross revenues of $61,911,473 for the second month of 2025, a drop of 23.6% from the $80,999,847 in the previous month. For a year-over-year perspective, operators enjoyed 39.3% increase from the $44,454,518 they won in February 2024.

Again, mobile wagering accounted for nearly all the revenue as the apps received $61,704,883, down 23% from January’s $80,169,746 and up 39.7% from the $44,164,970 reported a year ago.

State tax revenue fell 23.3%, from $12,137,426 in January to $9,303,968 in February. But February’s figure was 46.7% higher than the $6,342,927 Virginia received 12 months earlier.

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The agreement designates PENN’s sports betting platforms, ESPN BET in the U.S. and theScore Bet in Canada, as Officially Licensed Sportsbooks of MLBPI.

The partnership provides PENN with rights to incorporate MLB player names, images, and likenesses into its online sports betting platforms, marketing assets and promotional campaigns. The deal also extends to PENN ‘s retail sportsbook operations. PENN operates 32 retail sportsbooks across its po1ifolio of casino properties, including 19 under the ESPN BET brand.

“By integrating MLB player rights into PENN Entertainment’s platforms this partnership brings fans closer to the game while unlocking new business opportunities in sports betting,” said Frank Arthofer, President of OneTeam Partners. “It highlights the growing influence of players in shaping premium, fan-focused betting experiences while enhancing player NIL rights and widening distribution.”

Jason Birney, Vice President of Operations, PENN Interactive, added, “As baseball season gets underway, we’re excited to offer fans an enhanced betting experience that includes player likenesses, expanded wagering options and a more dynamic product. Partnering with MLB Players Inc., strengthens our connection to the league and its star players and creates additional opportunities to engage fans throughout the season.”

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BETBY, an industry-leading sports betting provider, has announced a long-term partnership with Calímaco, a premium B2B sportsbook supplier with a strong foothold across Latin America.

This collaboration aligns with BETBY’s expansion strategy in the LATAM market, reinforcing its commitment to delivering state-of-the-art sportsbook solutions in the region.

As part of the agreement, Calímaco will integrate BETBY’s award-winning sportsbook solution, including its proprietary esports feed BETBY Games, and comprehensive trading and risk management services. Additionally, by leveraging BETBY’s AI-driven technology, AI Labs, Calímaco’s partners will gain access to an unparalleled betting experience tailored to the needs of the LATAM market.

Known for its scalable and robust casino and lottery platform, Calímaco will significantly enhance its offering with an additional 300,000+ events, 8,000+ markets, 125+ sports, and 35+ esports provided by BETBY, cementing its position as a go-to supplier in the region’s competitive iGaming landscape.

Stefanos Karakidis, Head of Business Development at BETBY, commented: “We are excited to partner with Calímaco, a company that shares our vision for technological excellence and operator-focused innovation. Integrating our complete sportsbook solution into Calímaco’s platform will enable brands across LATAM to elevate their sports betting offerings and provide their users with an exceptional experience.”

Alejandro Serrano, Head of Business Development at Calímaco, added: “BETBY’s sportsbook technology is renowned for its flexibility, scalability, reliability, and comprehensive coverage. Incorporating their award-winning solution into our platform will empower our partners with world-class sports betting capabilities, further strengthening our presence in the Latin American market.”

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“We’re sort of on a journey in the betting space at the moment,” Haworth told the BlackBook Motorsport Forum in London.

“I think we make up 0.4% of the overall global betting handle, which is pretty crazy for a sport of the size of Formula One and with a sport that has low latency data at a high volume which is what drives betting.”

Formula One, whose cars have an array of sensors on them delivering billions of data points, last month announced San Diego-based ALT Sports Data as its official betting data supplier.

It said ALT would develop betting-focused real-time predictive analytics for Formula One as well as proprietary data and priced odds for the betting industry.

“We’re working incredibly hard to try and figure out how we open up an engaging betting product that enables people not to just look at outcome betting but to use the data of the sport to be able to engage in various different in-play betting,” said Haworth.

“We just believe that to be a huge engagement tool… I think there are many different ways to engage in the sport (other) than sitting and watching a two-hour broadcast and that is one way that drives a lot of engagement.”

The 2025 season, with 24 races but no major rule changes before a new engine era in 2026, is expected to be one of the closest yet after four teams and seven different drivers won races last year.

“This season is a great season to really focus on our betting because we’re going to see so much jeopardy on the track and who knows what’s going to happen with the regulation changes next year,” said Haworth.

Betting on Formula One has been tricky for the sport, with team orders being a feature and gambling barred in the Islamic world with four races in the Middle East.

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PropSwap and two Bally Bet sportsbooks in Mississippi – at the Hard Rock Hotel and Casino Biloxi and Bally’s Vicksburg – will combine efforts to help gamblers find new ways to wager on the sports they love. PropSwap’s North American database of users and Bally Bet’s presence in the Magnolia State will be a powerful combination, designed to increase betting activity at both sportsbook locations. 

Bally Bet is now PropSwap’s preferred sportsbook in the state of Mississippi. 

The goal of this unique partnership is to drive more handle and a higher ticket count at Bally Bet sportsbooks from sports bettors, who will be using PropSwap’s secondary market. Customers will be encouraged to place wagers with the idea they can lock in profit early via listing tickets for sale, as their tickets improve in value. 

A decade of empirical data via PropSwap shows that sportsbook users will bet substantially more at their preferred sportsbook, and are more likely to bet futures and parlays. The data further demonstrates that when gamblers are confident they can exit a sports bet at a fair price, they’re willing to wager more.

“Since PASPA was overturned in 2018, PropSwap has been uniquely positioned to provide a fun experience, and more importantly, a margin improvement to both sportsbooks and their customers,” said PropSwap CEO and founder Luke Pergande. “We are forever changing how people wager on sports. Your bets no longer need to win to get paid. They simply need to improve. This concept changes everything for a gambler. We’re excited that Bally Bet shares that vision with us, and we are looking forward to the start of the partnership this weekend. ” 

Lastly, PropSwap is pleased to welcome Dustin Gouker as an advisor to the company. Dustin has been a trusted gambling industry executive and consultant for more than a decade, and PropSwap is excited to bring him on board to provide his best-in-class strategic advice.

“PropSwap has been an innovator in sports betting, and I am excited to help the company in the next phase of its growth,” Gouker said. “Deals like this with retail sportsbooks in a state with legal sports betting are a testament to what Luke and the team have built, and their desire to help grow the regulated industry.”

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This platform is set to diversify the landscape of quasi-betting exchanges by offering users the opportunity to wager on various aspects of athletic events, excluding the actual outcomes of the games.

SI Predict is poised to compete in the burgeoning market of quasi-betting platforms, which currently includes the likes of Polymarket and Kalshi. These platforms are known for their derivative contract-based products. The new service from Sports Illustrated will be accessible on a global scale, providing a unique betting experience where users can place bets on elements such as the number of attendees at a football game or the song selection for a halftime show performance.

The companies have expressed that the primary aim of SI Predict is to enhance user engagement by sparking conversations and debates. It is designed to allow enthusiasts to demonstrate their sports knowledge and insights without delving into the intricacies of traditional gambling. This approach aligns with the growing trend of interactive fan experiences that go beyond mere spectating.

In their joint statement, Sports Illustrated and Galactic emphasized that the platform is intended to offer a simplified form of engagement for sports fans. By focusing on the peripheral aspects of sports events, SI Predict aims to create a community where expertise and predictions can be shared and celebrated in a non-gambling environment.

SI Predict is scheduled for launch in the second quarter, expanding the options for sports fans to connect with their favorite athletic events in an innovative and non-traditional betting format. The platform’s unique proposition is expected to attract users eager to test their predictive skills and knowledge in a new and exciting way.

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His remarks came after a panel on the future of sports betting in Oklahoma at a meeting of the United Indian Nations of Oklahoma in Catoosa. 

Balancing tribal priorities and relationships with state leaders was another major topic of conversation for tribal leaders.  

With 31 of Oklahoma’s tribal nations represented at the meeting, speakers at the Hard Rock Hotel and Casino Tulsa included Oklahoma Attorney General Gentner Drummond, Tulsa Mayor Monroe Nichols, Principal Chief Chuck Hoskin, Jr. of the Cherokee Nation, Chief Ben Barnes of the Shawnee Tribe, and Margo Gray, executive director of UINO. 

When discussions turned to sports betting and tribal compacts with the state, Gov. Kevin Stitt was repeatedly mentioned. Stitt recently said he would veto any sports betting legislation sent to his desk that gave tribes exclusivity and has previously had conflicts with Oklahoma’s tribes. 

Matthew Morgan, chairman of the Oklahoma Indian Gaming Association, said these comments want to bring gaming in Oklahoma back to 2004, when the state offered a gaming compact to the tribes with exclusivity rights for class three gaming, which includes sports betting. Going back is not realistic, Morgan said.

“I don’t think the odds are in our favor of seeing something move even through both chambers to (Stitt),” Morgan said. “Now, there’s always a chance and we have always advised our members that we need to be ready if there is a chance to move forward because they’ll probably move quickly. But you know, we, as tribal governments, members of OIGA, we’re not in a rush to have a deal on this, especially if it’s a bad deal. So if the right situation presented itself, I think you would see tribes get on board and really engage in the conversation, but we’re not gonna make a bad deal.”

Chief Billy Friend of the Wyandotte Nation said there are three sports betting bills still “alive” at the state Capitol, two of which are more likely to receive the support of tribal nations. He said a few of Oklahoma’s neighboring states have recently legalized sports betting, including Kansas, Missouri and Arkansas. 

“We’re very unique in the fact that we have 38 tribes in the state,” he said. “And it’s much different than a lot of other states that currently have sports betting with tribes, where they don’t have as many tribes to get together (in agreement).”

Friend said he does not think the tribal nations have enough votes at the state Legislature to overturn a veto from Stitt this session. 

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