Weekly News Desk
Here's what you missed from another whirlwind week
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Now on to the News!
Masters Class. The trading volume on Kalshi for the Masters surpassed “trading” on the Superbowl and 4 weeks of the Women’s NCAA Basketball tournament on the platform. This volume for the Masters matched a big viewership number for the final round of the Masters too (19.5M at its peak).
Why does it matter: Kalshi is fighting some States for a right to exist. Clearly it seems to be a product some significant segment of the betting public wants or likes. It is something consumers, lawyers, and government regulators are watching.
Lobby Shop. The Guardian reported on a lobbying efforts, particularly in state legislatures, trying to turn back a slew of gambling regulations.
Why does it matter: It seems state-licensed sportsbooks are fighting a multi-front war against the aforementioned Kalshi’s of the world who are regulated by the CFTC and eating into their market share, and the regulatory state who is trying to curb some of their accused predatory behavior.
Market Controls. Next.io reports that increased regulation of sports gambling in the Netherlands and the UK has pushed gamblers to increase their use of illegal offshore gambling.
Why does it matter: As U.S. regulators decide what steps to take I am sure many will point to this research to argue against what they would describe as onerous rules.
More of the same. Kalshi announced this week that it will be offering single game NBA markets in addition to existing markets for the NBA Champion, and Conference Champions. They also announced single single game MLB markets. Baseball isn’t a fast-paced game and there are 162 games per team per season so I’m curious how bettors will engage with these new options especially as the season progresses.
Why does it matter: More and more Kalshi seems to be offering the same types of markets (some might call them bets) that state-licensed sports books offer. At some point the CFTC or a court will make a ruling that defines things for Kalshi or its state-based competitors. Until then this shadow game continues.
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