This week, New York is poised to continue its active involvement in prediction market filings, as Polymarket's new betting options face their initial challenges in football. Additionally, the betting statistics from July may further amplify the World Cup's positive impact on the industry.
Prediction markets remain a hot topic in the gambling sector, with ongoing litigation updates anticipated throughout the week and operators broadening their sports offerings. As college football kicks off, an investigation into NFL betting is expanding, and Florida's crackdown on sweepstakes could lead to additional repercussions.
Here’s a look at the key gambling stories to follow this week.
Litigation and Court Rulings on Prediction Markets
Currently, there are no significant prediction market hearings scheduled, but recent trends indicate that important rulings could emerge unexpectedly.
New York is a state to keep an eye on. Recently, Kalshi opposed Attorney General Letitia James' efforts to move the state's lawsuit against the exchange back to state court. In another development, Judge Lorna G. Schofield has set an August 31 deadline for New York to respond to the CFTC's emergency order requiring Kalshi to maintain operations, with the CFTC allowed to reply by September 7.
Nevada is also noteworthy for two reasons. This month, the state sought penalties against Kalshi for allegedly missing a geofencing deadline on August 12. Additionally, Nevada invoked North Carolina’s new prediction market tax as supporting authority in the Ninth Circuit, arguing that Kalshi’s acceptance of the tax undermines its broader preemption claims.
Some litigation may be on hold pending appeals. Recently, Coinbase and officials from Michigan and Connecticut requested to pause their cases while awaiting appellate decisions. Similarly, Crypto.com and Washington have agreed to delay their case until after a Ninth Circuit ruling.
Key points to monitor include New York’s response to the CFTC’s emergency order and potential rulings on the remand request, new court decisions in other states, and developments in Nevada’s geofencing and Ninth Circuit disputes.
Polymarket's Combos Face Their First Football Challenge
Polymarket's U.S. exchange has introduced its parlay-style “combos,” allowing users to combine up to 10 legs after a brief testing phase. In comparison, Kalshi offers combos with as many as 30 legs.
The introduction of these combos coincides with the growing popularity of parlays, which have become a significant source of trading volume. Reports indicate that parlays accounted for one-third of Novig's volume during its launch week, while Kalshi's share is closer to 40% according to various volume-tracking platforms.
This launch comes just as college football kicks off this weekend and the NFL season approaches.
Ongoing Sports Contract Filings to Monitor
Another trend to observe is the continuous stream of sports-event contract filings with the CFTC. In recent weeks, prediction market operators have swiftly expanded their offerings through self-certifications.
This trend is particularly noteworthy following last week’s CFTC Innovation Advisory Committee meeting, where self-certification was a major discussion point. CME Group’s Chairman and CEO, Terry Duffy, noted that around 2,500 event contracts have been self-certified since January 2025, with no opposition from the CFTC.
Watch for new sports self-certifications, especially those that extend beyond traditional game outcomes, spreads, and totals, as operators vie for football trading volume.
Football Season Kicks Off with Growing Sports Betting Momentum
The 2026 college football season begins this weekend with the first FBS games. This opening weekend marks the start of a crucial time for U.S. sportsbooks, with the NFL season set to follow shortly.
There is already strong demand for football betting, setting the stage for an exciting season ahead.