Courts
Supreme Court gives Kalshi until Dec 7 to answer New Jersey
The Court extended Kalshi's deadline to respond to New Jersey's petition (No. 26-299) from November 9 to December 7.
Sources:supremecourt.gov
DFS legal and industry tracker
The changes that affect where and how you can play: new laws, court rulings, operators leaving states and the prediction-market fight. Each entry links to its sources. Latest entry Oct 30, 2026; last reviewed Nov 2, 2026.
October 2026
- Operators
Kalshi raises $1 billion at a $40 billion valuation
Sequoia Capital and Wellington Management co-led the round, up from a $22 billion valuation in May. Kalshi said it will build a broader exchange beyond prediction markets.
Sources:cnbc.com
- Prediction markets
Utah files criminal charges against Kalshi and its co-founders
The 14 counts name Kalshi, CEO Tarek Mansour and COO Luana Lopes Lara, citing sports trades an undercover agent placed from Utah in September. Utah is the second state, after Arizona, to criminally charge Kalshi, which called the case an overreach.
- Prediction markets
DraftKings, FanDuel, Robinhood and Fanatics pull back in Utah
After Utah charged Kalshi, DraftKings Predictions (Oct 28) and FanDuel Predicts (Oct 30) removed sports, political and novelty contracts for Utah users, and Robinhood stopped new sports, culture and political positions from Nov 2. Fanatics Markets said it will stop all trading in Utah on Nov 4.
Sources:sportsbettingdime.comfox13now.comrobinhood.comingame.com
- Prediction markets
Polymarket agrees to stop sports contracts in Michigan
Under a court-approved deal with the Michigan Gaming Control Board, Polymarket US stops new sports contracts and closes open positions by November 25. Michigan now has deals or orders halting sports contracts from Kalshi, Robinhood, Coinbase and Polymarket.
Sources:michigan.gov
- Prediction markets
Robinhood agrees to pause new sports contracts in Ohio
Robinhood said it reached a deal with the Ohio Casino Control Commission to stop opening new sports contracts in Ohio from November 2, in exchange for a pause on enforcement while the federal appeals play out.
Sources:law360.comrobinhood.com
- Operators
Kalshi caps deposits for 18- to 20-year-olds
Kalshi said accounts belonging to 18- to 20-year-olds will default to a $2,500 monthly deposit limit, alongside new trade-size prompts for new users.
Sources:news.kalshi.comingame.com
- Prediction markets
CFTC sues Utah over prediction-market enforcement
The CFTC and the Justice Department asked a federal court to block Utah from applying its gambling laws to CFTC-registered exchanges, and sought a restraining order on October 29. Utah is the tenth state the CFTC has sued.
Sources:cftc.govcovers.comdefirate.com
- Courts
Kalshi sues Louisiana before any enforcement
Kalshi asked a federal court in Louisiana to bar state officials from acting against its sports contracts, citing statements from the Gaming Control Board and attorney general that such contracts are illegal gambling.
Sources:ingame.comingame.com
- Prediction markets
New York regulators go to court over Kalshi subpoenas
The State Gaming Commission petitioned the state Supreme Court in New York County to force Kalshi to hand over records on its sports contracts, users under 21 and advertising. It adds to New York's July lawsuit against Kalshi.
Sources:covers.comdefirate.com
- Law and regulation
Ohio tells fantasy and sportsbook licensees to cut ties with prediction markets
The Casino Control Commission said any licensee, including every fantasy contest operator, that supports unlicensed sports-contract operators must stop and confirm compliance by October 30 or face license action. It also said it will act against the companies that ignored its October 16 deadline.
- Prediction markets
Utah sues Kalshi in state court
The attorney general's civil suit, which also names two Susquehanna trading firms, seeks to stop Kalshi's sports, election and other contracts in Utah and recover profits from Utah accounts. Utah later asked for a preliminary injunction.
- Prediction markets
Polymarket sues Ohio on its cease-and-desist deadline
Polymarket US sued Ohio officials in federal court, arguing that Ohio's in-state licensing rules discriminate against out-of-state businesses and are preempted by federal commodities law.
Sources:rg.orgcourtlistener.com
- Prediction markets
Novig and Crypto.com's exchange sue Missouri
As the attorney general's 30-day deadlines ran out, Novig and Crypto.com's North American Derivatives Exchange filed separate federal suits to block Missouri from enforcing its sports wagering laws against them. Kalshi filed its own suit on October 27.
Sources:gambling.comstlpr.org
- Law and regulation
Tennessee warns Underdog its fantasy license is at risk over sports contracts
The Sports Wagering Council ordered Underdog to stop offering sports event contracts and said continuing would put its fantasy operator license at risk of revocation. Underdog sued the council and the attorney general in federal court on October 13.
- Courts
Judge asks for briefs on whether DraftKings' California contests are illegal
In the Zhen class action, Judge Charles Breyer ordered summary-judgment briefing, due Nov 25 to Dec 22, on whether DraftKings' California contests violate Penal Code sections 337a and 330. The order mentions a new trial date, replacing the December 21 bench trial.
Sources:govinfo.gov
- Law and regulation
CFTC moves to define event contracts as swaps
The CFTC proposed adding sports, political, cultural and weather event contracts to the federal definition of a swap. It also adopted an interim rule, effective October 19 with comments due November 18, that keeps sportsbook and casino wagers out of that definition.
- Courts
Kalshi asks the full Sixth Circuit to rehear its Ohio and Tennessee losses
Kalshi petitioned for panel and en banc rehearing of the September 25 ruling, which keeps the decision from taking effect for now. On October 28 the court told Ohio and Tennessee to respond by November 12.
Sources:defirate.comnextpredict.io
- Courts
Seminole Tribe sues DraftKings over Pick6 and sports predictions in Florida
The tribe's Broward County suit says DraftKings' peer-to-peer Pick6 contests and its DraftKings Predictions app are illegal sports betting that cut into its exclusive rights. DraftKings says Pick6 is a legal fantasy game.
Sources:ingame.comingame.comcovers.com
- Law and regulation
Pennsylvania bill would allow over/under fantasy contests and raise the age to 21
HB 2845 would treat picks on whether two or more athletes beat stat lines as fantasy contests rather than betting, and raise the minimum age from 18 to 21. It was referred to the House Gaming Oversight Committee.
- Prediction markets
Gemini, ProphetX and Webull stop sports contracts in Connecticut
Connecticut's Department of Consumer Protection said the three agreed to stop after its September cease-and-desist orders. Polymarket, Robinhood and Crypto.com were not on that list.
Sources:cdcgaming.comfinance.yahoo.com
- Prediction markets
39 states and the NFL urge the Supreme Court to hear New Jersey's Kalshi case
Ohio led a brief for 38 other states and DC, and the NFL and 145 tribes filed the next day, all backing New Jersey's petition (No. 26-299). Kalshi's response was first due November 9.
- Prediction markets
Coinbase agrees to stop sports event contracts in Michigan
Under a deal with the Michigan Gaming Control Board, Coinbase stops new sports contracts and closes open positions by October 10. Robinhood made a similar deal in September, and Kalshi is barred by a state court order.
Sources:michigan.govcovers.com
- Prediction markets
Four tribes launch Kalshi-powered prediction apps in California and Oklahoma
The Alabama-Quassarte Tribal Town in Oklahoma and three California tribes will run their own branded apps on Kalshi's exchange under revenue-sharing deals. Most tribal gaming groups oppose prediction markets.
Sources:ingame.comcovers.com
- Prediction markets
PrizePicks suspends Team Picks sports contracts in Missouri
PrizePicks told Missouri customers it had to stop new Team Picks, citing state requirements after the attorney general's crackdown. Its Player Picks fantasy contests remain live.
Sources:casino.orgsbcamericas.com
- Prediction markets
Ohio orders 10 prediction markets and brokers to stop sports contracts
Citing the Sixth Circuit ruling, the Ohio Casino Control Commission gave Polymarket, Robinhood, Coinbase, Underdog, Novig, ProphetX and four others 14 days, until October 16, to confirm they have stopped. Kalshi, still in litigation with the state, was not on the list.
- Courts
Federal judge blocks Illinois from enforcing its licensing law against Kalshi
Judge Martha Pacold found Kalshi's sports contracts are likely swaps and partly granted preliminary injunctions to Kalshi, Coinbase and the CFTC. She has not yet ruled on Illinois' new per-trade fees.
September 2026
Prediction marketsSixth Circuit rules Ohio and Tennessee can regulate Kalshi's sports contracts
The appeals court upheld Ohio's win and vacated Kalshi's Tennessee injunction, deepening a split with the Third Circuit. Ohio was never blocked from enforcing; the Tennessee injunction lapses October 16 unless Kalshi seeks a rehearing by October 9.
- Prediction markets
New York sues Polymarket US, which countersues in federal court
The attorney general sued Polymarket US as an unlicensed gambling operation, seeking a shutdown, restitution and triple penalties. Polymarket moved the case to federal court, filed its own suit and said it will keep operating in New York.
Sources:ag.ny.govlegalsportsreport.com
- Prediction markets
Kalshi blocks access on three California tribal reservations
After a September 16 Ninth Circuit ruling for California tribes suing Kalshi, the company told a federal judge it now geofences the three plaintiff tribes' lands. Kalshi remains available elsewhere in California.
Sources:legalsportsreport.com
- Prediction markets
Kalshi and Montana regulators drop their lawsuit, pausing enforcement
A federal court dismissed Kalshi's suit after Montana's gambling regulators agreed not to act against its event contracts until the Ninth Circuit resolves Kalshi's rehearing bid in the Nevada case. The attorney general kept his own enforcement power.
Sources:ingame.comdefirate.com
- Prediction markets
Missouri's attorney general orders prediction markets to stop
Cease-and-desist letters went to six operators with a 30-day deadline. Underdog's DFS contests in Missouri were not the target.
Sources:legalsportsreport.com
- Operators
Underdog gives up its fantasy licenses in seven states
Regulators said offering CFTC-regulated prediction markets was incompatible with a DFS license, so Underdog surrendered its fantasy licenses in Maryland, Massachusetts, Michigan, New Jersey, Ohio and Pennsylvania (Mississippi a day earlier) and kept its prediction-market business.
Sources:ingame.comcasino.org
August 2026
Prediction marketsNinth Circuit rules for Nevada against Kalshi
The appeals court held that Nevada can regulate sports event contracts. Kalshi asked the full court to rehear the case on September 11, and that request is pending. Kalshi had already geofenced Nevada under a settlement in July.
Sources:cdn.ca9.uscourts.govingame.com
July 2026
CourtsDraftKings and FanDuel drop their Texas DFS lawsuit
The two operators dismissed, without prejudice, their long-running suit over the Texas attorney general's 2016 opinion that DFS is illegal. Both still operate in Texas.
Sources:sec.gov
- Operators
IG Group agrees to buy Underdog
The London-listed trading company agreed to acquire Underdog for up to about $1.3 billion, with closing expected late 2026 or early 2027.
Sources:iggroup.com
- Courts
California consumer claims against DraftKings survive
A federal judge dismissed claims to recover losses but let consumer-protection claims proceed, leaving open an injunction against paid DFS in California.
Sources:courthousenews.com
- Law and regulation
Virginia moves DFS to the Virginia Lottery, sets age at 21 and ends house pick'em
HB 145 repealed the 2016 Fantasy Contest Act. Contests now need at least two players and can't be played against the operator, with a 10% tax and 21+ minimum age.
- Law and regulation
Iowa gives regulators power over unlicensed online fantasy contests
SF 2289 lets the Racing and Gaming Commission issue cease-and-desist orders and seek injunctions.
Sources:legis.iowa.gov
June 2026
Law and regulationIllinois licenses and taxes DFS
The state budget created a fantasy operator license and a 15% tax on fantasy receipts. Proposed Gaming Board rules set a 21+ minimum age once final.
Sources:legalsportsreport.com
May 2026
OperatorsFantasySpin and FastDraft merge
The two smaller DFS operators announced a merger to combine their salary-cap and best ball products.
Sources:globenewswire.com
April 2026
OperatorsFanDuel Picks runs its last contests
FanDuel shut its peer-to-peer pick'em product, announced in March, as parent Flutter shifted spending to FanDuel Predicts.
Sources:fanduel.com
- Law and regulation
Kentucky licenses DFS for the first time
Lawmakers overrode a veto of HB 904, putting fantasy contests under the Kentucky Horse Racing and Gaming Corporation. Contests need at least two players; DFS age stays 18.
Sources:apps.legislature.ky.gov
- Prediction markets
Third Circuit sides with Kalshi in New Jersey
The first appeals ruling on sports event contracts found federal law preempts New Jersey. New Jersey has asked the Supreme Court to review it.
Sources:supremecourt.gov
- Operators
PrizePicks leaves Canada
PrizePicks exited the Canadian market to focus on US expansion.
Sources:covers.com
- Operators
OwnersBox ends gameplay
The DFS operator shut down its contests.
Sources:ownersbox.com
March 2026
Law and regulationFlorida DFS bill dies
HB 189, which would have legalized and regulated DFS, died when the session ended. DFS in Florida remains unregulated.
Sources:flsenate.gov
January 2026
OperatorsAllwyn closes its majority stake in PrizePicks
The lottery operator acquired a majority of PrizePicks.
Sources:en.wikipedia.orgyogonet.com
- Prediction markets
FanDuel Predicts reaches all 50 states
FanDuel's prediction-market app, a joint venture with CME, went national, with sports contracts in 18 states.
Sources:sbcamericas.com
December 2025
Law and regulationArizona moves to revoke Underdog's DFS license
The Department of Gaming cited Underdog's prediction-market partnership. It then waived Underdog's 30-day appeal deadline during settlement talks, and Underdog remained live in Arizona.
October 2025
OperatorsPrizePicks licensed in New York
PrizePicks received a fantasy license for its peer-to-peer product and relaunched in New York in February 2026.
Sources:ingame.com
August 2025
OperatorsPrizePicks ends house-style pick'em nationwide
PrizePicks moved every state to peer-to-peer contests, following Sleeper, which made the same switch in mid-August.
Sources:ingame.com
July 2025
OperatorsVivid Picks shuts down
Vivid Seats closed its pick'em app, ending deposits on July 15 and play on July 18.
Sources:vividpicks.com
- Law and regulation
California's attorney general calls all DFS illegal
Opinion 23-1001 concluded that salary-cap and pick'em contests are illegal sports wagering. It is non-binding, the governor disagreed, and no enforcement had followed as of mid-2026. Several operators moved California pick'em to peer-to-peer.
Sources:oag.ca.govlegalsportsreport.com
March 2025
OperatorsUnderdog settles with New York and exits pick'em there
Underdog paid a $17.5 million settlement; its drafts returned to New York in May 2025.
Sources:legalsportsreport.com
January 2025
OperatorsSuperDraft closes
The DFS operator shut down its platform and let customers withdraw balances.
Sources:sites.google.com