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Anyone who has attended a gaming conference will tell you that panels are regularly devoid of conflict and debate.

That was not the case during a discussion on prediction markets at the National Council of Legislators from Gaming States (NCLGS) summer meeting in Louisville, KY.

Josh Sterling, a lawyer from Millbank and former Commodity Futures Trading Commission (CFTC) employee, represents both Kalshi and Crypto.com in their legal challenges to cease and desist letters from gaming regulators in a trio of states. His comments on a panel regarding prediction markets both gave insight into Kalshi’s legal position and ruffled some feathers in a room full of regulators and lawmakers who believe sports contracts are infringing upon their turf.

Sterling stands firm: sports trading is federal territory

While the gaming industry tries to define where the line between prospecting and gambling is, Sterling found the issue crystal clear.

“The line is drawn in Section 281, Title Seven in the U..

DraftKings is returning $3 million to customers in Connecticut following an investigation by the state’s Department of Consumer Protection (DCP) into the operator’s bonus offers.

The DCP reached a settlement with DraftKings requiring the Boston-based sports betting and fantasy giant to return funds to approximately 7,000 consumers in Connecticut.

The department initiated an investigation into DraftKings amid allegations of the operator violating gaming law through its casino deposit and general bonus offers between October 2021 and January 2023. DraftKings allegedly violated Connecticut gaming laws by offering bonuses that promised a particular deposit match or bonus bet amount but included a playthrough requirement that was not expressly marketed by the company. DraftKings avoided any further legal or regulatory repercussions through its settlement with the DCP.

According to the settlement agreement, DraftKings “denies all allegations” and “denies any and all liability or wrongdoin..

A former gaming regulator is joining PrizePicks as fantasy operators across the country deal with legality concerns in one of the largest markets in America.

PrizePicks announced the appointment of Todd Grossman as the company’s Director of Gaming Regulatory Compliance to ensure the fantasy giant meets legal and compliance standards as it expands across North America. Grossman joins PrizePicks after spending more than 10 years in various roles at the Massachusetts Gaming Commission (MGC).

“After an unforgettable chapter in public service, I’m thrilled to share that I’ve joined PrizePicks as Director of Gaming Regulatory Compliance,” said Grossman in a post on LinkedIn. “From day one, the welcome has been warm, the energy high, and the company’s commitment to building something truly exceptional has been unmistakable.”

At the MGC, he served as General Counsel for three years before being appointed as Interim Executive Director. Grossman was named interim director after Karen Wells st..

New Jersey Gov. Phil Murphy has signed a bill into law banning public colleges and universities across the state from securing deals with sports betting brands.

Assembly Bill 4113 was signed by Murphy on Tuesday after first being introduced by Assemblywoman Linda Carter and Assemblyman Benjie Wimberly last April. It was carried over into the current year’s session.

The legislation is the same as Senate Bill 2155, which was introduced in January 2024 by Sen. Joseph Cryan. SB 2155 was passed by the Senate Higher Education Committee with amendments in May before being substituted by A4113 last month.

The bill was filed despite there being no active partnerships between New Jersey public educational institutions and gambling brands.

Still, Murphy’s approval of A4113 now writes a formal ban into law. Colleges and universities may not sign a sports wagering partnership that provides a gambling brand or operator with “access to advertise in the institution’s stadiums and other facilities…

American professional sports are dealing with another player-related gambling probe.

According to a report from The Athletic, Cleveland Guardians pitcher Luis Ortiz is being investigated by MLB for a matter related to gambling. Ortiz, a 26-year-old who spent last season with the Pittsburgh Pirates, has been placed on “non-disciplinary paid leave.”

Ortiz’s leave will run through the end of the MLB All-Star break, which concludes July 15. The Dominican Republic native was scheduled to pitch in a game on Thursday against the Chicago Cubs. As a result of his leave, the Guardians made roster changes.

“The Guardians have been notified by Major League Baseball that Luis Ortiz has been placed on leave per an agreement with the Players Association due to an ongoing league investigation,” said the team in a statement. “The Guardians are not permitted to comment further at this time and will respect the league’s confidential investigative process.”

MLB reportedly won’t comment on the matter u..

DraftKings is providing account holders with a new responsible gaming product.

The Boston-based operator announced on Monday the launch of My Budget Builder, a tool allowing account holders to set customized spending limits and reminders. DraftKings is making the product available across its portfolio of platforms, including its online casino and DFS offerings. The tool is also available for DraftKings peer-to-peer Pick6 offering.

“My Budget Builder is a new kind of responsible gaming tool—intuitive, proactive, and personalized,” said DraftKings Chief Responsible Gaming Officer Lori Kalani. “It reflects our ongoing commitment to creating fun, enjoyable environments for our players. By enhancing how players engage with limit-setting, we are providing another resource that players can use to help them play responsibly.”

My Budget Builder is available on both DraftKings’ app and website with features allowing for seamless integration into online wagering. The tool allows users to estab..

The World Series of Poker (WSOP) is collaborating with an emerging financial platform.

EDGE Boost, a responsible gaming-focused solution delivered by EDGE Markets, announced a partnership with the WSOP making the platform the preferred payment method of the storied poker organization. EDGE Boost provides users with a bank account designed to promote RG by offering a dedicated debit card. The debit card allows account holders to separate gambling transactions from normal finances.

The partnership allows WSOP players to circumvent traditional credit card verification by using EDGE Boost to make transactions of up to $10,000 each. EDGE Boost also allows WSOP players to make entries up to $250,000 eliminating the need for cash.

Each EDGE Boost account is insured up to $250,000 with the FDIC. In 2024, EDGE Boost became the first betting-only banking service to provide that level of FDIC support.

“EDGE Boost is going to completely transform the WSOP experience,” said WSOP COO Greg Chocho..