Ruff Heist

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Commercial sports betting generated just under $17 billion in nationwide revenue in 2025, which is why Davenport asserts that the “stakes of this case are exceptionally high”. Kalshi and Polymarket alone posted more than $45 billion in trading volume, which is similar but not identical to betting revenue, in August. That was a 15% decline from July, although that drop is attributed to the conclusion of the Fifa World Cup tournament that month per Yahoo! Finance.

The American Gaming Association estimates that the exchanges have siphoned more than $1.3 billion in would-be tax revenue from states. One of the AGA’s primary spokespeople pin its fight against prediction markets is former New Jersey governor Chris Christie, who championed the PASPA case to the Supreme Court.

As with PASPA, this matter revolves heavily around federalism versus states’ rights. Traditional sports betting is governed by individual state regulators with varying laws and regulations. Federal derivatives are regulated by the CFTC, which has fully embraced prediction markets under US President Donald Trump after rejecting them in previous administrations.

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Conducted in 2026, it surveyed 70 professionals actively engaged in VIP management, including VIP account managers, heads of VIP and consultants, with 64% employed directly by gambling operators. 

The report sought to understand how VIP portfolios are managed daily, how the tools are utilised and other key operational challenges.

Although three-quarters of respondents rated their VIP data as good or very good, 71% reported data spread across multiple systems. Half admitted sometimes making decisions with incomplete or outdated information. 

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The Danish Gambling Authority said on Friday that the report stems from a broader review by FATF member countries over the past year.

The review examined the gaming sector and associated money laundering, terrorist financing and proliferation financing risks.

Spillemyndigheden said it contributed actively to this work and sat on FATF’s gaming sector working group. The regulator confirmed that many of the indicators in the report carry relevance for operators licensed in Denmark.