Bet365 has quietly withdrawn its membership from the American Gaming Association, becoming the latest major operator to walk away from the US trade body. The Gibraltar-based firm joins DraftKings, FanDuel, and Fanatics Betting & Gaming in cutting ties with the AGA over what appears to be a fundamental disagreement about prediction markets.

Prediction Markets at the Heart of the Split

The timing tells you everything you need to know. The AGA has taken an aggressive stance against prediction markets, even as its biggest members have been eyeing the sector as their next growth opportunity. DraftKings and FanDuel both surrendered their Nevada licences to launch dedicated prediction platforms. Fanatics followed suit. Now bet365 is out the door as well.

None of the companies have said explicitly why they’re leaving. They don’t need to.

When your trade association is actively campaigning against a business model you’re pursuing, the membership doesn’t make much sense anymore.

Is Bet365 Launching a Prediction Platform?

The obvious question is whether bet365 plans to enter the prediction market space itself. The company hasn’t registered with the National Futures Association yet, nor filed any visible applications. But then again, neither had the others before they made their moves.

Prediction markets represent a genuine commercial opportunity. Operators clearly see them as distinct from traditional sports betting rather than direct competition. Both DraftKings and FanDuel have stated they don’t expect major cannibalisation of their sportsbook operations.

Regulatory Pressure Mounting

While operators push forward, regulators are pushing back. State attorneys general, gaming regulators, and members of Congress have all taken aim at the prediction market sector in recent months. The AGA’s position aligns neatly with that regulatory scepticism.

The trade body now faces an uncomfortable reality. It’s haemorrhaging major operator members at precisely the moment the industry faces challenges on multiple fronts, from offshore competition to the sweepstakes casino model. Losing your biggest players over a policy disagreement weakens your voice when you need it most.

For bet365, the calculation appears straightforward. Whatever future plans the company has, they’re better pursued outside the AGA’s tent than inside it.