Business

Gaming Industry Faces Tax Revenue Losses

Updated 2026-05-28 14:50 UTC 2 sources Negative

The American Gaming Association claims states have lost $1 billion in tax revenue due to prediction markets, which it views as a form of backdoor sports betting. The issue is prompting regulatory scrutiny and debate over the legality and impact of these platforms.

Coverage timeline — 2 articles

CNBC

Gaming association says states have lost $1 billion in tax revenue due to prediction markets

Bill Miller, American Gaming Association president and CEO, added that prediction market platforms in his view amount to "backdoor sports betting."

2026-05-28 14:08 UTC

MarketWatch

Houston Rockets owner is placing an $18 billion bet on Las Vegas by buying Caesars

The holding company of Tilman Fertitta, who owns the NBA’s Houston Rockets and Golden Nugget casinos, is buying Caesars Entertainment in a deal valued at nearly $18 billion.

2026-05-28 14:32 UTC