Legal NFL Betting Growth Stalls Amid Rise of Prediction Markets
- The American Gaming Association (AGA) forecasts $29.5 billion in legal NFL wagering this season, a slight increase from $29.4 billion last year.
- Kalshi’s prediction market volume includes $5.1 billion from users aged 18 to 20, below the legal betting age in most jurisdictions.
- Eilers & Krejcik Gaming reports that August’s NFL prediction market volume was over four times higher than the previous year.
- The AGA claims that prediction markets have diverted more than $1.3 billion in potential state gaming tax revenue since their rise.
- A federal appeals court recently ruled that Nevada can enforce its gaming laws against Kalshi’s sports contracts.
The AGA highlights a slowdown in legal NFL betting growth due to the rise of prediction markets, which are attracting significant volumes, especially from younger users below the legal age for sports wagering.
This shift has potentially impacted state tax revenues and raised regulatory concerns, with ongoing legal challenges likely to shape the future landscape of sports betting regulation in the U.S.(Source)
