Minnesota poised to ban prediction markets, case against FanDuel goes to arbitration, UK black market expands

These are the biggest highlights of the week in gaming and gambling, with states moving with new regulations, and a number of important events looming on the horizon.

The Jackson Jaguars’ employee who was sentenced to six and a half years after he stole more than $22m from FanDuel has had a case seeking to bring the sportsbook to court relegated to arbitration instead by a federal judge.

According to the judge’s decision, the dispute between Amit Patel and FanDuel was a matter of interpreting the terms and conditions, and that should be settled in arbitration.

Lawmakers in Minnesota have sent a bill that would ban prediction markets in the state. The bill - SF SF 4760 - is now with Governor Tim Waltz, who can either sign it into law, in which case itwill come into force in August, or reject it and veto it.

Whatever way Gov. Waltz chooses, there will be implications. A ban on prediction markets is likely to trigger further litigation from sector stakeholders such as Kalshi, and possibly the federal regulatory, the Commodity Futures and Trading Commission (CFTC).

Business and finance

DraftKings remains optimistic about its prospects, with the company reporting profitability for its sportsbook business for the first time and now able to generate enough cash to fund other projects.

The company reported $21m in profitas the firm hit a $1.65bn revenue target during Q1 2026, a 17% jump from the same period last year, bolstered by strong customer engagement as well as the ongoing performance of the company’s sportsbook.

DraftKings did not miss to highlight its ambitions for the prediction market vertical in the recent update, with company boss Jason Robins adding, "We are off to a fantastic start to the year as our first quarter results exceeded our expectations. Our core business is strong, and profitability is increasing. That gives us the firepower to press our advantage in Predictions."

The global entertainment and gaming content creation company, Aristocrat Leisure Limited, enjoys a strong start to the year with outstanding results in the six months ended March 31, 2026.

Releasing its unaudited figures, the company acknowledged that the recently recorded growth is a direct result of positive ongoing business momentum and strategic gains of market share in key markets.

On a lighter note, NetEnt’s iconic decades-old progressive jackpot game, Arabian Nights, produced a fresh huge winner recently, with one player scooping the jackpot worth €679,379.43 at the time.

While this is still far from the all-time $8.6m record jackpot equivalent won by a Finnish player back in 2012, it still demonstrates the title’s staying power and popularity among online casino players.

Laws and regulations

The Alcohol and Gaming Commission of Ontario (AGCO) has issued two penalties worth CA$40,000 against two suppliers in the regulated iGaming market.

Relax Gaming Limited and Arrise Solutions Limited have been accused by the regulator of providing their games to companies that, in turn, offered iGaming platforms locally in Ontario without first seeking a license from AGCO, the watchdog said in a press release.

As the threat of the black market grows in the UK, the local regulator has announced new measures. The UK’s latest efforts focus on the creation of an Illegal Gambling Taskforce, which will reunite a range of stakeholders, such as law enforcement and various gambling bodies, in a bid to crack down on the black market.

Responsible gambling

The Betting and Gaming Council (BGC) has issued a new warning over the actual size of the black market in the United Kingdom, which, according to the organization, has reached nearly £17bn.

The BGC has urged policymakers, stakeholders, and the gambling regulator to acknowledge the growth of the illegal gambling market in the country and to further address this issue by slowing its pace.

"What we are seeing is a harmful black market scaling up at a pace. Illegal operators are becoming more sophisticated, more visible, and more aggressive in their efforts to reach UK customers. That should concern anyone who cares about consumer protection," the BGC said in a statement.

Not least, BetBlocker, a charity focusing on providing players with the opportunity to self-exclude and access responsible gambling resources in their mother tongue, has announced a new localization of its service.

BetBlocker is now natively available to speakers of Syrian Arabic, making it an important next step in the charity’s global push to reach as many communities and vulnerable people as possible.

The voice of the industry

The Gaming in Holland Conference has revealed its preliminary event agenda, naming the key decision makers attending the Thursday, June 4 gathering in Amsterdam, the Netherlands.

The event will tackle some of the most pressing issues in the regulated iGaming market, including player protection, the rise of the black market, and what recourse the country’s regulator has in addressing this increasing problem.

This week, Stian Enger Pettersen, Head of Casino at EveryMatrix, took a look at bonus abuse and how it can be prevented without harming the player experience.

"Bonus abuse didn’t announce itself as a crisis. It crept in through the edges, and most operators absorbed the cost as an acceptable line on the P&L for far too long. It no longer fits there," Enger mused in his opinion piece you can read here.

The first episode of iGaming Horizon, offering a breakdown of some of the biggest developments in online casino, gambling, sports betting, and business, AI hosts Nate and Mike discuss some of the most interesting headlines from the industry in the last two weeks.

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