The rise of prediction markets is reshaping the sports betting industry and triggering a legal scramble across the United States, with Bloomberg Intelligence estimating the sector could reach $1 trillion in annual volume by 2030, mostly benefiting established operators like Kalshi and Polymarket. Executives from BetMGM, DraftKings, FanDuel, Robinhood and Fanatics weighed in on the shift, with one noting that NFL week one volume rose over 85% from last year to this year. BetMGM said its position is clear that wagering on the outcome of a sports event is sports betting, and that it remains focused on legal, regulated gaming, while another executive said the launch of prediction markets is viewed more as an opportunity than a challenge. The legal fight is playing out across the US as regulators battle over control of the multi-billion dollar industry, and one executive said recent state and appeals court rulings have favored the sports betting industry. Despite the divide, executives agreed they want clarity, with one saying a Supreme Court decision would certainly provide more clarity and another saying the breadth of products should allow the business to withstand changes down the path.
DraftKings Inc
Robinhood Markets Inc