Members of Congress to Be Banned from (Certain) Prediction Markets

Members of Congress could soon be barred from trading on certain prediction markets under new legislation that’s gained bipartisan backing. The PREDICT Act, introduced by Representatives Nikki Budzinski and Adrian Smith, targets what lawmakers are calling a dangerous loophole in financial ethics rules.

The full name gives the game away: the Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act. It’s designed to stop elected officials using classified or inside information to profit from political betting markets, plain and simple.

Why Now?

Timing matters here. The bill comes after several dodgy-looking trades raised eyebrows across Washington. Someone made over $400,000 on Polymarket betting on US military action in Venezuela in early January. Similar suspicious activity popped up around Iran.

Both Polymarket and Kalshi have scrambled to close accounts linked to these trades, but the damage was done.

The concern isn’t just about making a quick profit. It’s about the potential for classified information reaching foreign adversaries through betting patterns.

Representative Budzinski didn’t mince words: “The American people are tired of politicians using their influence for personal gain, and the rise of prediction markets has made those concerns even more relevant.”

Part of a Bigger Picture

This isn’t happening in isolation. Several bills are now circulating that take aim at prediction markets from different angles.

Representative Mike Levin filed the DEATH BETS Act, which would ban markets on death, war, and crime outcomes. Meanwhile, Senators Adam Schiff and John Curtis went further with the Prediction Markets Are Gambling Act, attempting to prohibit sporting event contracts entirely.

The PREDICT Act sits somewhere in the middle. It doesn’t try to shut down prediction markets wholesale. Instead, it creates a specific restriction for people with access to information the public doesn’t have.

What This Means for the Markets

For platforms like Polymarket and Kalshi, this adds another layer of compliance. They’re already walking a tightrope with regulators. Now they’ll need systems to verify users aren’t members of Congress or their staff.

The prediction markets industry has exploded over the past two years, to be fair. What started as niche crypto betting has become a legitimate alternative to traditional polling and forecasting. These new rules could actually help legitimise the sector by addressing its most obvious vulnerabilities.

Whether the PREDICT Act passes remains to be seen. But the bipartisan support suggests lawmakers across the spectrum recognise this isn’t about shutting down innovation.

It’s about making sure people with privileged access can’t game the system.

TrainwrecksTV is back with another eyebrow-raising financial claim. The controversial gambling streamer now says he could have pocketed $2 billion from affiliate codes but chose not to use them. This latest statement comes amid an apparent falling out with Stake and follows previous claims of being owed between $3 billion and $5 billion by an unnamed casino operator.

The Affiliate Code Argument

After a three-month break from streaming, Trainwrecks returned to his channel with a rant about gambling streamers who push affiliate codes. His position? He’s deliberately avoided this revenue stream for ethical reasons, potentially leaving $2 billion on the table.

Curious stance, that.

While the streamer frames this as a principled decision, he’s simultaneously been receiving substantial compensation from at least one casino brand. Reports have suggested a $360 million, 16-month streaming deal, though these figures have never been independently verified.

Falling Out With Stake

The timing of these comments is notable. TrainwrecksTV appears to have soured on his relationship with Stake, the platform widely understood to back his current streaming home, Kick. He’s recently threatened a “streamers’ revolution” and claimed he’s not being properly compensated despite helping to create the platform.

The exact nature of his involvement with Stake remains unclear. Over the years, Trainwrecks has suggested varying levels of participation, from co-owner to backer. Stake’s official documentation lists him as a backer, not a founder.

Context Matters

Trainwrecks moved to Kick after Twitch implemented its gambling ban in 2022. The Amazon-owned platform prohibited most casino streaming, effectively ending his lucrative broadcasts there. Kick, launched shortly after with backing from Stake’s owners, became the natural home for gambling streamers locked out of Twitch.

The $2 billion affiliate claim needs perspective. Even at extraordinarily generous conversion rates and massive viewership numbers, reaching that figure would require astronomical traffic volumes sustained over years. It’s the sort of number that sounds impressive but doesn’t hold up under scrutiny.

Look, what’s actually happening here appears more straightforward. A high-profile streamer who’s built his brand on casino content is now publicly negotiating, or renegotiating, his compensation terms. The public statements about turned-down billions and unpaid debts read less like factual claims and more like positioning ahead of contract talks.

The Bigger Picture

Trainwrecks remains one of gambling streaming’s most prominent figures, whatever the actual numbers look like. His viewership drives significant traffic to casino brands. That traffic has genuine value. Whether it’s worth billions is another question entirely.

For players watching these public disputes play out, the message is simple: take the numbers with a substantial pinch of salt. The gambling streaming world operates with its own mathematics, where claimed figures rarely match documentable reality. That doesn’t diminish the entertainment value or the genuine business being done, but it does mean you should probably focus more on the games being played than the sums being thrown around.

After Raid: The Lodge in Texas Lays Off Staff, Closes Indefinitely

In a moving letter emailed to employees, The Lodge Card Club in Round Rock, Texas, has announced it would “shut its doors for the foreseeable future”. Accordingly, the card room was forced to lay off all of its staff, on the grounds of ongoing legal pressure from the authorities. The club was initially closed on March 10 following a raid by the Texas Alcoholic Beverage Commission.

Worth knowing: no charges have been filed yet. However, prosecutors have made it pretty clear they believe The Lodge’s business model violates Texas law. The club operates under the state’s “social poker club” framework, charging seat rental fees or memberships rather than taking rake from pots.

Owners Face Uncertain Legal Battle

High-profile poker professionals Doug Polk, Andrew Neeme, and Brad Owen are among the club’s owners. Polk, Jake Abdalla, and Jason Levin hold majority stakes, while Neeme and Owen invested smaller amounts in the venture. It quickly became one of the most recognizable poker venues in the region.

Levin’s letter to staff described the closure as the hardest message he has ever had to write. “While no charges have been brought, and we maintain that the club has always operated with the utmost integrity and within the laws of Texas, the Williamson County District Attorney’s office has made clear to our attorneys that they believe The Lodge’s current business model does not comply with Texas law,” he wrote.

The letter continued with stark honesty. “For this reason, we cannot re-open. Doing so would run the risk that authorities might once again raid The Lodge, seize more cash and assets, and potentially make arrests.”

Investigation Continues With No Timeline

Authorities have provided no indication when their investigation might conclude. This leaves the owners with no viable path forward. An affidavit obtained by industry sources alleges possible violations including organized criminal activity, money laundering, and illegal gambling.

The document claims approximately $1.35 million in deposits have been flagged as suspicious, alongside questionable financial transfers between business accounts. The investigation reportedly included an undercover operation where agents visited the club and played poker on multiple occasions. The affidavit’s allegations paint a picture far removed from the social poker club model the owners believed they were operating within.

Staff Praised Despite Closure

Despite the circumstances, Levin’s letter emphasized the value of the laid-off employees. “Each of you played a role in bringing that vision to life. From the front desk to the porters, dealers, managers, and production team, every detail, every interaction, every long day and late night added up to something truly special. You made this place what it was. Not the building, not the brand, you,” he wrote.

Should legal circumstances allow a future reopening, Levin indicated the plan would be to welcome staff back. For now, however, the entire team has been let go with no clear timeline for resolution.

The Lodge’s sister location in San Antonio remains open and operational, suggesting the legal pressure is currently focused on the Round Rock property specifically. The case highlights ongoing tensions between Texas gambling law and the social poker club model that has flourished in the state’s grey areas for years.

The UK government has confirmed it will keep the Horserace Betting Levy at its current 10% rate, ending a lengthy review process that racing authorities had hoped would deliver meaningful reform. The decision, announced by sports minister Ian Murray in Parliament, has sparked immediate criticism from industry leaders who argue Britain is falling behind other racing nations.

The levy applies to bookmakers earning more than £500,000 annually from British horse racing bets. Funds collected by the Horserace Betting Levy Board support breeding programmes, veterinary research, and facility improvements across the sport. Last year’s collection reached £108 million, a modest uptick from previous years but far short of what industry figures believe the sector deserves.

Government Cites Wider Industry Stability

Ministers pointed to recent changes in betting duties and the need for stability across the broader gambling sector as key reasons for maintaining the status quo. The review, led by Baroness Twycross, examined calls to expand the levy to cover international racing bets. Officials concluded the current framework properly reflects the relationship between bookmakers and domestic racing, though that’s debatable.

The government emphasised its ongoing support for horse racing, highlighting the sport’s significance through marquee events like the Grand National and Royal Ascot. Officials also referenced efforts to improve governance, scheduling, and animal welfare standards. Fair enough, but none of that addresses the funding shortfall.

Racing Authority Voices Frustration

British Horseracing Authority chief executive Brant Dunshea didn’t hold back in his response. He expressed disappointment not just with the outcome but with how long the review took, particularly given the detailed evidence the sport had submitted about its financial pressures.

Dunshea specifically highlighted the gap between Britain and major racing competitors. France and Ireland, he noted, secure substantially higher returns from betting revenue for their racing industries. The effective return to British racing, by comparison, remains notably lower despite the sector’s contribution to bookmaker profits. It’s a real imbalance, and one that’s increasingly difficult to justify.

Affordability Checks Add Pressure

The BHA also raised concerns about regulatory measures like affordability checks on punters. Dunshea warned these restrictions risk pushing bettors toward unregulated markets. Which would simultaneously reduce racing funding and cut into tax revenues. It’s a valid point, and one that deserves serious consideration given the potential knock-on effects.

The government maintains that collaboration between betting operators and racing will be essential moving forward. That’s fine in theory. But this decision suggests officials aren’t particularly interested in addressing the fundamental imbalance racing authorities have been highlighting. With operational costs rising and returns staying flat, the sport faces genuine questions about its long-term financial sustainability under the current arrangement. And honestly, those questions aren’t going away just because ministers would prefer not to answer them.

Two Pennsylvania bettors have launched legal action against DraftKings, FanDuel, Genius Sports, and the NFL in Philadelphia court. The Public Health Advocacy Institute at Northeastern University is backing the case, which challenges how modern sportsbooks design their platforms and target customers.

The Core Claims

Christopher Sage and Terry Thompson reckon the platforms operate as engineered systems built to crank up betting frequency. Their complaint centres on microbets, those rapid-fire wagers that let punters stake on live match events as they unfold. What started as casual betting, according to the filing, escalated into a steady flow of in-game prompts, odds boosts, and personalised offers.

Both plaintiffs say they were assigned VIP hosts who maintained direct contact and provided incentives. Even after one tried to stop gambling entirely. The lawsuit argues this crosses a line from offering entertainment to exploiting customer behaviour patterns.

Beyond the Sportsbooks

The case goes further than just the betting operators. Genius Sports, the data provider, faces accusations of supplying the real-time statistics that power microbetting at scale. The company feeds official data to most US sports betting markets, underpinning everything from player props to live odds updates.

The NFL’s inclusion as a defendant stands out. The league holds a big stake in Genius Sports and benefits directly from in-game betting growth. Plaintiffs argue this creates a financial ecosystem where all parties profit from the same product design choices.

The Technical Detail

Attorneys highlight specific features they claim encourage impulsive decisions. Push notifications timed to pivotal game moments. One-click wagering. Algorithmic targeting based on customer-specific data. The suit alleges these tools exploit behavioural tendencies through frictionless payment systems and personalised messaging.

The legal claims include violations of Pennsylvania consumer protection law, negligence, and intentional infliction of emotional distress. Plaintiffs’ lawyers draw comparisons to historic tobacco litigation, suggesting gambling operators have followed a similar pattern, building on research and marketing to crank up engagement.

What It Means

If this case proceeds, it could force disclosure of platform design practices and the commercial relationships between leagues, data providers, and operators. The betting industry has built a sophisticated infrastructure around live wagering. This lawsuit challenges whether that infrastructure crosses into territory that prioritises revenue over customer welfare.

The outcome will likely hinge on whether courts view microbetting features as standard product design or something that requires additional regulatory scrutiny. Either way, the case puts platform mechanics and customer targeting practices under the microscope at a time when sports betting continues its rapid expansion across US markets.

Allwyn has wrapped up its merger with Greek gaming operator OPAP, forming what the company claims is the world’s second-largest listed lottery and gaming business. The combined entity now trades on the Athens Stock Exchange under the Allwyn name.

This isn’t a fresh partnership. Allwyn first invested in OPAP back in 2013, and the two firms have been working together ever since. The merger formalizes what’s been a long-term relationship, bringing two profitable operations under one roof.

What the Merger Delivers

The deal creates a genuinely diversified business. Allwyn now holds leading positions across multiple European markets, with a product mix spanning national lotteries, instant games, sports betting, and digital offerings. That spread gives the company resilience. Room to maneuver as player preferences shift.

According to Allwyn, the merged business benefits from cutting-edge technology infrastructure and a solid balance sheet, positioning it for further expansion. The company says it’s committed to responsible gambling standards while driving shareholder value.

Shareholder Details

Allwyn confirmed it will distribute EUR 0.80 per share to shareholders once share transactions related to cash exit rights are settled. That’s expected to happen in April. After the exit is complete, Allwyn will have 770,799,070 shares outstanding, excluding treasury shares.

The company also announced plans to shift its legal domicile from Luxembourg to Switzerland before the end of June 2026. Beyond that, Allwyn is eyeing additional listings on either the London or New York stock exchanges, though no firm timeline has been set.

What Leadership Says

Karel Komarek, Allwyn’s founder and chair, described the merger as opening a new chapter built on 13 years of collaboration. He emphasized the combined company’s potential to redefine entertainment in an evolving consumer market.

CEO Robert Chvatal expressed confidence in the merged entity’s ability to deliver sustainable growth. He thanked shareholders, employees, and regulators for backing the transaction, which he says cements Allwyn as a big player in lottery gaming.

Recent Setback

The OPAP deal stands in contrast to Allwyn’s recent difficulties with another proposed merger. The company was forced to abandon plans to acquire Novibet after competition authorities raised concerns. That setback hasn’t derailed Allwyn’s broader growth strategy, but it shows regulators are watching consolidation in this space closely.

With the OPAP merger complete, Allwyn has the scale and market presence to pursue further opportunities. Whether those materialize in London, New York, or elsewhere remains to be seen. But the company’s ambitions are clear.

Spanish gambling operator Codere is reportedly shopping itself around for up to $2.3 billion (£1.8bn), according to sources cited by financial publication Expansión. The Madrid-based group has brought in Macquarie Group to handle the sale process.

The deal would include Codere Online, the company’s publicly traded digital arm, giving any buyer instant access to both retail and online operations across seven markets.

Timeline Points to August Close

People familiar with the matter told Expansión that bids could arrive by mid-May, with binding offers potentially following in June. If that schedule holds, a deal could wrap by the end of August.

Early days yet, though. The company is still gauging interest rather than hammering out specifics.

What’s on Offer

Codere isn’t just a Spanish operator. It’s got established positions in Argentina, Colombia, Italy, Mexico, Panama, and Uruguay. That’s a decent footprint for anyone looking to break into Latin American markets or strengthen European operations.

The Spanish market alone makes this attractive. Codere is one of the bigger players there, with retail halls and online presence both well established.

Who Might Be Interested

Expansión reckons both strategic buyers and financial investors could circle this one. Regulatory restrictions on private equity firms might trim the buyer pool somewhat, though.

Strategic operators looking to expand in Spanish-speaking markets would find immediate value here. The infrastructure is already built. The licences are in place. And the brand carries weight in its territories.

Whether Codere actually goes through with a sale, well, we’ll see. Companies explore strategic options all the time without pulling the trigger. But with advisors now on board and a clear process timeline emerging, this looks like more than just a fishing exercise.

FanDuel and DraftKings are facing legal action in Pennsylvania alongside the NFL and its data partner Genius Sports, with two punters claiming they were encouraged to gamble excessively through VIP rewards and access to rapid-fire betting markets.

Christopher Sage and Terry Thompson have filed suit alleging the operators used NFL data to promote what they describe as addictive products, particularly in-play micro-betting. The pair say they collectively lost over £2 million between them in just a few years of using the platforms.

VIP Perks Under Scrutiny

The complaint takes specific aim at how high-spending customers were treated. Thompson, who reportedly lost around £1.83 million since joining both platforms in late 2022, received Super Bowl tickets, hotel stays, and a £500 bottle of champagne among other incentives. Sage received similar treatment before eventually being diagnosed with a gambling disorder and placing himself on Pennsylvania’s exclusion register.

VIP programmes at licensed US sportsbooks typically reward frequent players with access to better odds, exclusive events, and personal account managers. The lawsuit suggests these benefits crossed a line. Actively encouraging the plaintiffs to continue placing bets despite mounting losses.

Micro-Betting in the Crosshairs

The legal action specifically calls out micro-betting markets, those quick-turnaround wagers on moments within live games, as particularly problematic. The plaintiffs’ attorneys claim their clients had no issues with traditional sports betting until they started using these rapid-fire markets on mobile apps.

Worth knowing: micro-betting has faced questions before, but no US court has successfully established that licensed operators acted improperly in offering these products. The legal framework currently treats them the same as any other regulated betting market.

Data Partnership Brought Into Question

Genius Sports finds itself named alongside the operators and the NFL itself. The company provides official league data that powers many of these in-play markets, and the lawsuit appears to question whether all parties in the data supply chain share responsibility for how those markets are used.

The plaintiffs are pushing for a jury trial and seeking compensation for damages and legal costs. They also hope their case might establish precedent for future actions against similar business practices.

Licensed US sportsbooks operate under strict regulatory oversight, particularly around customer interactions and VIP programmes. Whether this case can prove actual wrongdoing, rather than simply documenting losses by willing participants in a legal market, we’ll see. The industry will be watching closely.

New data from Stream Hatchet shows just how far ahead Stake has pulled in the streaming space. The brand appeared in 6,600 stream titles across Twitch and Kick in January alone, accounting for roughly 60% of all iGaming mentions. That’s not a narrow lead. That’s complete dominance.

The numbers put Stake’s nearest competitor, 1xBet, at 1,800 mentions. Betano managed 837. Winamax hit 653. Every other brand combined barely scraped past 4,400.

The gap speaks for itself.

Why Stake Owns the Space

Much of this comes down to Kick. The platform was designed with gambling content in mind, while Twitch took the opposite route and banned streams featuring unregulated betting sites. That regulatory split created a natural home for iGaming streamers, and Stake positioned itself right at the centre of it.

Many of Kick’s biggest names are directly tied to Stake, which explains why the brand shows up so consistently in stream titles. It’s not just visibility, actually. It’s strategic positioning backed by partnerships that actually work.

Viewership Backs Up the Numbers

The top ten iGaming creators in January racked up 88.4 million hours watched, all on Kick. Trainwreckstv led with 15.6 million hours. Classybeef pulled 13.9 million. Roshtein hit 12.6 million.

Those three alone accounted for more than 42 million hours in a single month.

That’s real engagement. Audiences aren’t just clicking through. They’re staying, watching, and coming back.

Broader Context: Streaming Growth and Search Demand

According to Stream Hatchet’s report, global search demand for iGaming jumped eightfold between 2023 and 2026. Live streaming sits at the heart of that growth. Audiences already engaged with sports, esports, and competitive events find betting content a natural extension of what they’re already watching.

Prediction markets are also gaining traction. Polymarket and Kalshi led chat discussions in the US with 12,000 and 11,700 mentions respectively. That put them ahead of traditional sportsbooks like FanDuel, which recorded 8,800 mentions, and PrizePicks with 5,300.

Even outside Kick, betting content finds an audience. YouTube channels like Stokastic DFS generated 742,000 hours watched, and Barstool’s network added tens of thousands more.

What This Means for the Industry

Stake isn’t just participating in the streaming boom. It’s shaping it.

The brand’s dominance reflects smart platform choices, strong creator relationships, and timing that aligned perfectly with regulatory shifts elsewhere. For other operators trying to build streaming visibility, the benchmark is clear. You’re not competing for second place. You’re competing for relevance in a space where one brand currently holds 60% of the conversation.

Better Collective has named Thomas Plenborg as chair of its board of directors, replacing Jens Bager after nearly a decade at the helm. The appointment signals a fresh strategic phase for the digital sports media group as it pushes for expanded market leadership.

Plenborg joined Better Collective’s board earlier this year, so he’s already familiar with the business. What he brings to the table is a track record that shareholders will like: serious M&A experience and a proven ability to generate value. His work with DSV stands out. He helped transform that Danish logistics firm from a regional operator into a global heavyweight.

Academic Credentials Meet Business Reality

Currently a professor at Copenhagen Business School’s Department of Accounting, Plenborg balances academic insight with boardroom pragmatism.

That combination matters when you’re steering a publicly traded company through competitive markets and regulatory shifts.

Better Collective made clear this isn’t just a ceremonial change. The company wants Plenborg’s strategic muscle as it looks to strengthen its position in sports media. His appointment came alongside the re-election of vice chair Therese Hillman and board members René Efraim Rechtman, Leif Nørgaard, Britt Ingrid Boeskov, and Todd Dunlap.

New Chair, Same Growth Ambitions

Plenborg acknowledged Bager’s contributions to the company’s governance and growth trajectory, while making it clear he’s ready to crack on. He plans to work closely with management and fellow board members to push the business forward for all stakeholders.

Co-founder and co-CEO Jesper Søgaard expressed confidence in the new appointment. He highlighted Plenborg’s financial acumen and strategic expertise, noting that experience with globally leading companies should prove valuable as Better Collective chases its ambition of becoming the top digital sports media group.

Timing and Context

The leadership change comes as Better Collective continues evaluating its capital structure. Earlier this year, the company disclosed its ownership of 5% of its share capital and indicated it was considering a potential reduction.

For investors, Plenborg’s appointment represents continuity with a sharper edge. The board clearly believes his M&A background and value creation focus align with where the company needs to go next. Whether that means more acquisitions, operational efficiency, or market expansion, we’ll see. But the signal is unmistakable: Better Collective is gearing up for its next growth chapter.