April 11, 2025 – FairOdds Network

April 11, 2025

State of the Union: Kalshi wins injunction in Nevada; stocks receive Trump bump, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Kalshi scores win with Nevada injunction

For a prediction market that has been besieged by state cease-and-desist orders over the last month, Kalshi notched a slight victory this week.

On Tuesday (8 April), US district court judge Andrew Gordon granted Kalshi a preliminary injunction against the Nevada Gaming Control Board (NGCB). The injunction prevents the NGCB from imposing the order against Kalshi, contending that the site illegally offered sports wagering across the state.

As with other prediction markets, Kalshi is awaiting a closely watched roundtable from the US Commodity Futures Trading Commission (CFTC) for clarity on whether sports event contracts mimic sports gambling.

First takes on the order granting Kalshi's motion for a preliminary injunction in Nevada: quality advocacy wins the day..

April 11, 2025

Kansas sports betting market shaken up by budget provision approval

Kansas sports betting licence extensions have been thrown into question after a new budget provision was voted through by the state’s house of representatives today (11 April).

Lawmakers approved a small but significant last-minute amendment to the state budget SB 125 on Friday, the last day of Kansas’ legislative session.

The amendment says that for the 2025 and 2026 fiscal years, “no expenditures shall be made by the above agency from monies appropriated from the state general fund or from any special revenue fund… to negotiate or enter into any contract or extension or renewal of an existing contract for the management of sports wagering with any lottery gaming facility manager.”

This indicates that the market will not be immediately impacted, but its long-term outlook is uncertain. Jeremy Kudon, lobbyist for the Sports Betting Alliance (SBA), clarified on X that “most contracts with the lottery will run well into 2027”. The SBA represents FanDuel, DraftKings, BetMGM and Fanatic..

April 11, 2025

New York online sports betting handle tops $23.94 billion in 2024-25

Consumers in New York spent a total of $23.94 billion (£18.32 billion/€21.07 billion) betting on sports during the 2024-25 fiscal year, a new record for the Empire State.

The total from April 2024 to March 2025, published by the New York State Gaming Commission, surpasses the $19.64 billion wagered in 2023-24 by 21.9%. It is also the highest annual sports betting handle ever posted by a US state.

In terms of gross gaming revenue, this amounted to $2.14 billion for the fiscal year. This is another record for New York and beat the previous year by 21.6%.

This resulted in an annual hold of 8.94%, slightly lower than 8.98% in 2023-24.

FanDuel betting handle nears $10 billion

Breaking down the market, Flutter Entertainment-owned FanDuel continues to lead the way by some margin. FanDuel processed a record $9.2 billion in bets and reported revenue of $969.8 million, leaving a 10.54% hold.

As has been the case for some time, DraftKings remains the closest challenger. Handle hit $8.6 bill..

April 11, 2025

Gambling Commission outlines rates per licence for statutory levy

The UK Gambling Commission has clarified the rates each licensee will have to pay for the new statutory levy, which the government hopes will raise £100 million (€115.3 million/$130.7 million) for harm prevention against gambling.

The UK statutory levy came into effect on 6 April, having been included in the previous government’s Gambling Act white paper in 2023 with the belief operators weren’t paying their fair share to support gambling harms under the voluntary levy.

Gambling minister Baroness Twycross told the Betting & Gaming Council’s (BGC) AGM in February the new UK statutory levy was a “huge step forward” for the gambling sector, with the hope it will reduce problem gambling.

On Monday (7 April), the Gambling Commission released an update on the levy including the rates each licence holder will be required to pay, with online gambling generally set to face the highest rate.

What are the statutory rates?

The statutory levy rates are as follows:

Online gambling licence typ..

April 11, 2025

Swedish government loosens grip on ATG ownership

The Swedish government is relinquishing control of racing monopoly ATG as part of a new agreement which calls for its board to have fully independent members.

The Swedish government has made the agreement with Svensk Travsport and Svensk Galopp, both of which share ownership of ATG. The state announced on 10 April that the agreement reduces government control over ATG.

ATG was first founded in 1974 to oversee and correct financial problems faced by equestrian sports at the time. Svensk Travsport and Svensk Galopp were in financial difficulties and the state decided it would be best to form a joint venture for horse betting. Any profits were intended for trotting and galloping sports and the Swedish horse industry national foundation.

The new agreement sees the Swedish government give up part of its controlling powers over ATG. As a result, it will no longer nominate ATG board members. Previously it had the power to appoint six of the 11 board members.

Moving forward, the board’s n..

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