News Summary

• u.s. lawmakers grilled representatives of sportsbook and prediction market companies.
• The hearing focused on recent cheating scandals, companies' marketing tactics and regulatory battles.
• Minnesota this week became the first state to ban prediction markets from operating inside its borders.
• Online sports betting has seen explosive growth in recent years, with 39 states and D.C.
• having legalized some form of mobile sports gambling, after a 2018 Supreme Court decision opened the door for states to legalize online sports gambling..
• Sports betting revenue hit a record $16.96 billion in 2025, according to the American Gaming Association.