Tag: new york
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DraftKings Turned 9/11 Into A Parlay Bet Promotion Three Years Ago
One of the U.S. regulated sports betting industry’s most depraved promotions appeared three years ago, when DraftKings tried to turn the anniversary of 9/11 into a parlay. On Sept. 11, 2023, DraftKings marked the 22nd anniversary of the horrific Sept. 11 attacks with a sports betting promotion called “Never Forget.” Yeah, that really happened. The…
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US Tennis Group Pushed To End Kalshi Gambling Partnership
A leading national gambling-reform group is urging the United States Tennis Association to end its new partnership with prediction market platform Kalshi before the US Open Finals. In August, Kalshi announced a multi-year partnership with the USTA, becoming the exclusive partner of the US Open beginning with the 2026 tournament. Stop Predatory Gambling, based in…
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CFTC Declares ‘Emergency’ To Protect Kalshi Versus New York
The Commodity Futures Trading Commission invoked its “emergency authority” after New York’s lawsuit against prediction-market company Kalshi, escalating the federal government’s fight with states over sports betting. On Tuesday, the CFTC announced that it ordered KalshiEX to keep operating under federal derivatives law after Kalshi notified the agency of a “market emergency.” The claimed emergency…
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An Ethical Hole In New York’s $36 Billion Kalshi Lawsuit
The State of New York filed a lawsuit against New York City-based Kalshi on Friday that could expose the company to at least $36 billion in claimed damages and other relief. The state, which sent the company a cease-and-desist letter in October, alleged that Kalshi is illegally operating a gambling platform. The massive amount could…
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Fact Check: Did New Yorkers Really ‘Win’ $48m On Knicks?
New York-sanctioned sportsbooks reported a paper loss of $48.5 million for the week ending June 14, following the Knicks winning the NBA title. What does this really mean for consumers? Knicks fans bet heavily on their team and won many bets, resulting in the state’s sportsbooks paying out far more than they took from users…
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