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How to play Oil Company 2
The committee also heard from Brianne Doura-Schawohl, a nationally recognised problem gambling expert. One study cited by Doura-Schawohl found that 52% of Gen Z respondents include sports betting and prediction markets as part of their long-term financial plan.
She also criticised a Kalshi competitor for offering a function that allows minors over 17 to link an investment account with the ability to buy and sell event contracts. A former legislative director for the National Council on Problem Gambling, Doura-Schawohl described the opportunity as “very dangerous” for teenagers susceptible to harm.
Beyond Texas, Kalshi made history on Friday when it became the first prediction market to sign a partnership with a federally recognised sovereign nation.
About Oil Company 2
“Given the pending Indiana case, I have asked my Treasurer to return the donations,” Grasso said in an email to Patch. His campaign reported the contributions to the Illinois State Board of Elections on September 14.
Rovito was among 22 people indicted in April in a federal case involving an alleged illegal gambling operation in northwest Indiana.
Prosecutors charged him with operating an illegal gambling business and conspiracy to collect extensions of credit by extortionate means. The indictment alleges that the operation involved sports betting and the collection of gambling debts.
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Beynon says sports betting companies have suffered particularly badly because the market is questioning both future earnings and the size of the eventual opportunity. More iGaming-focused companies such as Rush Street Interactive and Super Group have generally performed better operationally, helped by stronger earnings growth and profitability.
The lesson is simple: gambling still attracts capital when the money is visible. It is less attractive when the payoff lies far in the distance.
The biggest new uncertainty in US sports betting is prediction markets. The American Gaming Association estimates that Americans will legally wager $29.5 billion in betting handle through US regulated commercial sportsbooks during the 2026 NFL season, broadly unchanged from the $29.4 billion handle recorded in 2025. These figures refer to the amount wagered, not sportsbook revenue.
