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163 results for “Covers”

The Kansas City skyline seen over the lawn in front of Union Station
Prediction Markets

Underdog Sues Missouri as Crypto.com, Novig and Kalshi Seek Injunctions

Four of the six exchanges Missouri told to stop offering sports contracts in September are now in federal court, and at least three of them asked for interim relief between Friday and Sunday. With the Eighth Circuit months from a ruling, the exchanges want protection before the merits are decided.

The Boston Back Bay skyline seen across the Charles River
Corporate

DraftKings Lifts Predictions Spend to $700m, Cuts 2026 Profit Midpoint by $575m

DraftKings now plans to put $650 million to $700 million into Predictions this year, which takes its 2026 adjusted EBITDA guidance down to $175 million to $275 million. Its sportsbook had a strong quarter: the cut is a spending choice, and the payback case leans on how long sports contracts survive.

State Street in Chicago with the Chicago Theatre sign
Prediction Markets

Illinois Appeals Kalshi Injunction That Also Bars Its Prediction Market Tax

A Chicago federal judge has barred Illinois from licensing, taxing or prosecuting CFTC-regulated exchanges over sports event contracts, and the state appealed the same day. The tax question left open in October closed because Illinois agreed its levy reaches only licensees.

A betting app on a phone beside rolls of dollar bills and a football
Regulatory

Louisiana Class Action Calls FanDuel and DraftKings Apps Defective Products

Three New Orleans bettors, two of them heavy parlay players, have asked a Louisiana court to treat the FanDuel and DraftKings apps as defective products. The petition also names the two casinos whose licences the apps operate under, a choice that may keep the case out of federal court.

The Detroit skyline at dusk seen from above, with downtown towers under an orange sky
Prediction Markets

Polymarket Agrees to Close Michigan Sports Contracts While It Fights Ohio

Polymarket US has become the fourth prediction market to stand down on sports in Michigan, under a stipulation approved in the federal court that refused it an injunction in June. It is conceding a state where its appeal sits before the circuit that has already ruled against Kalshi, while it carries its fight to Ohio and Louisiana.

Aerial view of the Las Vegas Strip at night, with the lit resorts lining the boulevard toward the Bellagio and Paris
Corporate

Caesars Loss Widens to $123m as Las Vegas Slides Ahead of Fertitta Takeover

Caesars Entertainment's net loss more than doubled in the third quarter as weaker Las Vegas business offset growth in its regional casinos and a better quarter for Caesars Digital. It published the numbers without a call or a word from management while it waits for regulators to clear its sale to Fertitta Entertainment.

A row of lit gaming machines with empty stools in a dim gaming room
Regulatory

Illinois Moves to Bring 50,141 Video Gaming Terminals Into Self-Exclusion

The Illinois Gaming Board has approved proposed rules that would put an identity check in front of every video gaming terminal in the state and open the way to cashless player accounts. A comment period, legislative review and a central system still being built stand between the vote and the venues.

Cars fill the parking lot in front of a row of stores at a shopping centre in Cranberry Township, Pennsylvania, under a heavy grey sky
Prediction Markets

Kalshi Launches Sector KPI Markets on Carbon Arc Data, Which Already Settles Its Sportsbook Ad Spend Contracts

Kalshi has started listing contracts on industry-wide indices of card spending, point-of-sale sales and app downloads, all settled on figures from the data company Carbon Arc. The same vendor already settles Kalshi markets on sportsbook and casino advertising and on DraftKings and FanDuel downloads, and its numbers appear to sit outside the test the SEC used on 13 October to class Cboe's KPI options as securities.

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