State of New York
Part of United States
New York is the largest sports betting market in the United States and the most expensive to operate in. Online betting launched in January 2022 under the New York State Gaming Commission at a 51% tax on gross gaming revenue, the highest rate in the country alongside New Hampshire, and the rate has not moved since. The 51% figure is the single most cited number in American gambling policy, because New York proved something the industry argued was impossible: a market can carry a rate that high and still lead the nation in handle. That has made it the reference point every other state reaches for when it proposes an increase, which is why Ohio, Illinois, Louisiana and North Carolina have all raised theirs. Online casino is not authorised. Senator Joseph Addabbo's S2614 would have legalised online slots, table games, live dealer and poker at 30.5%, notably below the sports betting rate, and it was abandoned for the 2026 session after Governor Kathy Hochul declined to support it.
Senate Bill S2614 (online casino authorisation)
iGaming has now failed repeatedly without executive backing, and that is the binding constraint rather than legislative appetite. The sports betting rate is not under pressure: at 51% there is nowhere obvious for it to go.
New Jersey's total gaming revenue fell 4.1% to $615.7m as eight of nine casino floors lost ground and a late football calendar cut sports betting revenue to $61.4m. Online casino rose 4.4% to $259.3m but came off July's record, and for a second month the floor out-earned the internet. The summer as a whole was the resort's best in ten years.
The Giants, Jets and Bills all won and covered, the opening week tied the NFL's highest-scoring on record, and the state's eight mobile books kept $17.0m of $594.6m. Fanatics held 1.1%. Handle was up 12.7% on last year's opener in the same week prediction markets traded more than $3bn on a single Sunday.
A concrete recycler's tower beside I-94 has been painted Polymarket blue and lettered with the platform's name. The city says adverts on water towers need a permit, there is none on file, and its buildings department is sending an inspector out with a "possible correction order". The stunt lands in the one state where Polymarket has already lost in federal court and its rival Kalshi is under a state injunction.
A second unanimous panel in three weeks has ruled against the exchange, this time for two California tribes under the Indian Gaming Regulatory Act. The court held that IGRA and the Commodity Exchange Act "simply address two different questions", and sent the case back for an injunction. Lawyers on the tribal side are already talking about geofencing reservations.
Judge Lorna Schofield heard the commission argue that the Commodity Exchange Act pre-empts New York's $3.4 billion gambling case against Coinbase and Gemini, and pressed its lawyers on why she should enjoin the state when other federal courts have declined to. She did not rule from the bench.
Two consecutive daily records, parlays over half of everything, a $56m Cowboys-Giants market and pricing that Citizens says beat FanDuel and DraftKings on straight bets. The volume figure counts both sides of every trade.
A $400m term loan and a $160m delayed draw fund pre-construction on the $4bn Ferry Point project and give the group liquidity, from the private credit firm that also refinanced The Star in June.
Attorney General Letitia James says the "free" sweeps coins were sold at about a dollar apiece from 2012 onwards. The settlement carries no admission of liability and lands as Florida pursues the same company in court.
Fanatics Sports & Casino merges three products into a single account and one FanCash balance. The prediction markets side reaches states where the sportsbook cannot go.
State of New York