Australia's Labor government has proposed a single-service opt-out register for gambling ads, funded by an industry levy, alongside tighter restrictions on wagering inducements as part of amendments to its wagering ad legislation.
Australian PM Anthony Albanese nears a deal with the Coalition on gambling reforms, focusing on advertising and inducement restrictions, amid calls for stronger measures from backbenchers and advocates.
As the spring parliamentary session begins, the Albanese government signals openness to amendments on gambling inducements, facing pressure from the Coalition and Greens to strengthen wagering reforms.
The Australian government is open to amending wagering legislation regarding gambling inducements amid parliamentary negotiations, though it remains hesitant to alter proposed TV and online advertising rules.
A parliamentary inquiry into Labor's gambling legislation heard allegations that problem gamblers received cocaine and sex workers, which Sportsbet and Tabcorp denied.
New York has filed a lawsuit against prediction-market exchange Kalshi in a Manhattan state court, seeking to permanently block its alleged unlicensed sports wagering operations in the state. The suit demands customer restitution, damages, and substantial penalties, intensifying a dispute over whether federal commodities oversight preempts state gambling laws.
Labor's draft national platform will soften its opposition to mandatory jail sentences, recognizing they don't reduce crime. It also commits to cracking down on online gambling inducements, pressuring the government to toughen reforms.
Labor's updated national platform, to be debated at its July conference, softens its stance on mandatory jail sentences, pushes for stronger curbs on gambling inducements, retains Aukus support, and rewrites its Israel/Palestine position to reflect Palestinian state recognition and opposition to illegal settlements.
Labor's proposed gambling advertising reforms have been criticized as insufficient by the Liberal and Greens parties, who are calling for more stringent measures. The bill faces an uncertain future in parliament, with opponents arguing the changes do not go far enough to address gambling harm.
Labor's proposed gambling advertising reforms have faced strong criticism from the Coalition and Greens, who deem them too weak and a "capitulation" to the gambling lobby. Critics argue the changes, set to take effect in 2027, do not go far enough in protecting vulnerable individuals, particularly children and young people, and are calling for a more comprehensive Senate inquiry.
A new study estimates Americans wagered up to $34 billion on offshore prediction markets in a 12-month span, with potential to reach $133 billion by 2030. The Coalition for Prediction Markets highlights risks associated with unregulated platforms.
Former CFTC and SEC Chair Gary Gensler filed an amicus brief arguing Congress did not grant the CFTC authority to regulate nationwide sports wagering via the Dodd-Frank Act. He supports states' rights to regulate the sector, contrasting with the CFTC's stance.
US-based prediction market websites like Kalshi and Polymarket are attracting significant bets on Australian elections and political events, raising concerns among Australian regulators and gambling harm advocates about potential manipulation and lack of oversight.
US-based prediction market websites like Kalshi and Polymarket are attracting significant bets on Australian elections and political events, raising concerns among Australian regulators and gambling harm advocates about potential manipulation and lack of oversight.
US diplomats have reportedly been warned against using insider information to place bets on Iran talks Read Full Article at RT.com
Four major crypto platforms—Hyperliquid, Kalshi, Polymarket, and Pump.fun—are rapidly converging by adding perpetual futures, prediction markets, and memecoin trading into unified super apps designed to keep users in continuous speculative loops. Hyperliquid handles $191 billion in 30-day perp volume while Kalshi and Polymarket target $96B and $84B respectively in 2026 event market volumes. The convergence is drawing fierce regulatory scrutiny as the CFTC asserts federal jurisdiction while state attorneys general in New York and New Jersey argue these products constitute illegal gambling.
Hong Kong authorities have suspended plans to launch legal basketball betting, citing concerns that the move could inadvertently boost illegal prediction market gambling.
