Prediction markets face scrutiny, BGC's Chair steps down, study warns 74% of US iGaming revenue goes to black market

At a time when Octoplay plans to focus on a creative push, the company's CEO, Carl Ejlertsson, confirmed he has stepped down from his position. He will remain part of Octoplay but will transition to a strategic and creative role. As a result, the position of CEO will be filled by Ralitsa Georgieva, who formerly served as Director of Business Development.

Clarion Gaming announced it selected GamblePause as its new Safer Gambling Charity partner for 2026. Teaming up, the duo will collaborate during ICE Barcelona, iGB Affiliate Barcelona, and iGB L!VE London, some of the most-anticipated events of the gaming industry. Clarion Gaming's decision to join forces with GamblePause reaffirms its dedication to making the gaming industry safer. At the same time, the strategic alliance will raise awareness of GamblePause's goals within the vertical.

The founder of Authentic Gaming, Jonas Delin, joined forces with the co-founder of LeoVegas, Gustaf Hagman, to establish Avanti Studios, a next-generation Live Casino games studio. Focusing on revolutionizing the Live Casino games vertical, the company plans to develop brand-new and engaging games by combining AI, 3-D animation as well as real-life motion captured from croupiers. Standing out with high-quality and easy scalability, the new games are expected to reach different markets in Q1 2026 with a debut in Spain.

This week, Casino Guru reminded the iGaming community that there is just one month left to submit nominations for select categories for the Casino Guru Awards 2026. The 4th edition of the annual event is scheduled to take place on February 15, 2026. Ultimately, Casino Guru Awards 2026 will recognize excellence in the online gambling sector and honor meaningful contributions.

Business and finance

Wynn Resorts, the leading gaming, entertainment and hospitality company, announced its decision to rotate a company veteran into a Chief Financial Officer (CFO) role. The company confirmed the transition of Craig Fullalove, a seasoned company executive, to the role of CFO. Previously, he held the dual role of CFO and Chief Administrative Officer for the company's Macau-based subsidiary. However, now, he will transition to the parent company, filling the role of Julie Cameron-Doe, who is set to retire on March 31, 2026.

IGT, the global gaming, digital and financial technology provider, announced it selected Andy Hendrickson for the role of Chief Product and Technology Officer. Prior to his new appointment, Hendrickson served as Chief Technology Officer since 2025. To the role, the executive brings significant experience.

Elsewhere, in the UK, the Betting and Gaming Council (BGC) confirmed that its Chair, Michael Dugher, is stepping down from his position. Holding the important senior role at the BGC, Dugher helped navigate a range of challenges, including regulatory changes. He actively supported the Council in its mission to promote the highest industry standards and acknowledged that he is proud of what the BGC achieved in the last six years under his guidance.

Regulation and laws

The ongoing crackdown against prediction markets reached Tennessee. The Volunteer State became the latest one to target the popular prediction markets, joining a growing list of states that have already taken similar actions. As a result, the Tennessee Sports Wagering Council ordered industry leaders, Polymarket, Kalshi, as well as Crypto.com, to discontinue their activities in the state.

A newly released study by Yield Sec warned that 74% of all gross gambling revenue online in the United States is going through illegal, black market operators. The study, commissioned by the Campaign for Fairer Gambling, warns about the growing threat of the illegal gambling vertical. Notably, the study warned about the significant losses in state revenue and player funds, flowing toward platforms and operators that do not hold a license in the United States.

In Iowa, the fight against illegal gambling continues. While the Iowa Racing and Gaming Commission wants to take meaningful actions against black market operators, its powers remain limited for the current moment. The Commission can only issue public warnings to consumers and encourage them not to use illegal websites. However, a new proposal seeks to change this, enabling the gambling watchdog to go after black market operators offering their services without the required license.

Focusing on prediction markets, in the context of their growing popularity, the American Gaming Association joined forces with the Indian Gaming Association. Teaming up, the two platforms argue that prediction market platforms are not legal and addressed their concerns in a joint letter to Members of the United States Senate and the House of Representatives. Both AGA and IGA encouraged lawmakers to take action against what they described as "unregulated sports events."

Changes to the gambling vertical in New York seek to curb underage sports gambling. While underage gambling across the state remains popular, Gov. Kathy Hochul seeks to tighten control over the sector, potentially preventing such cases. Only recently, the Governor directed the New York State Gaming Commission to use technology, such as thumbprint scanners and facial recognition, to prevent individuals under the age of 21 from gambling.

Again, in New York, a bill proposes the establishment of licensing and regulation specifically for prediction market platforms. That's the case under Senate Bill S8889, which seeks to introduce a licensure model for prediction market operators. The bill also defines a prediction market as "any platform, electronic or physical, that allows participants to place wagers, trades, or financial positions on the outcome of future events, including but not limited to political, economic, weather, or other contingencies, where payouts are tied to event outcomes."

Elsewhere, the Isle of Man government reaffirmed its dedication to the online gambling sector earlier this week. Ahead of the upcoming ICE 2026, the local government highlighted the key role iGaming had played for the Island in the last two decades. At the same time, the government confirmed it will continue to collaborate with the sector and all agencies that ensure the iGaming sector remains stable, secure and trusted.

Due to an unclear legal status, Ukraine blocked access to Polymarket. The European country became the latest one to take such action amid scrutiny Polymarket is facing in the United States. Recognizing the platform as an illegal gambling operator, Ukraine directed Internet Service Providers to block access to it.

Responsible gambling

This week, Icarus Behavioral Health Nevada announced it expanded its services. The mental health organization confirmed the increase in its operating hours. Moreover, Icarus Behavioral Health increased the number of experts, ensuring more individuals affected by problem gambling can access specialized care and support services.

While indoor casino smoking remains a problem in Missouri, two new bills seek to address it. That's the case under proposals in the House of Representatives that ultimately seek to end the indoor casino smoking exemption.

The voice of the industry

Earlier in the week, Casino Guru News released an analysis focusing on Connect & Collect: Bragg Gaming’s response to a dynamic iGaming landscape. The insightful report looks into Bragg Gaming's ability to deliver engaging and fun mechanics, catering to audiences across the globe.

Again, this week, Casino Guru News had the opportunity to sit down for a talk with Adam Pentecost, Gaming Corps' CRO. In an exclusive interview, the executive spoke about the company's biggest shift amid ongoing growth and expansion.

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