ReportWire

Tag: aga

  • Chris Christie Joins AGA to Fight Prediction Markets

    [ad_1]

    Posted on: December 23, 2025, 12:18h. 

    Last updated on: December 22, 2025, 05:21h.

    • Chris Christie has joined the fight against sports prediction markets
    • Christie helped states win the right to legalize sports betting
    • Christie and President Trump are not friends, which could hamper Christie’s CFTC influence

    Former New Jersey Gov. Chris Christie (R), who championed the fight against the US federal government for states to possess the right to legalize sports betting, has a new target in sports prediction markets.

    Chris Christie prediction markets sports
    Former New Jersey Gov. Chris Christie opines that prediction markets licensed by the CFTC offering sports contracts are breaking the law. Christie recently partnered with the American Gaming Association to fight against predictive market exchanges facilitating events involving sports. (Image: CNBC)

    Christie, a two-term Republican governor in the blue Garden State, helped lead New Jersey’s legal challenge to the Professional and Amateur Sports Protection Act (PASPA). The federal law had restricted single-game sports gambling to Nevada.

    After years in court, the US Supreme Court in May 2018 ultimately sided with New Jersey in that PASPA violated anti-commandeering interpretations of the Tenth Amendment. The landmark ruling led to 40 states and Washington, DC, passing sports betting laws.

    Now, Christie is joining the American Gaming Association (AGA), a trade group representing the interests of the commercial and tribal gaming industries, to campaign against the continued rise of sports prediction markets.

    CNBC’s Contessa Brewer, who covers gaming matters for the business news outlet, broke the Christie news last Friday.

    Sports Prediction Markets 

    Prediction markets licensed by the Commodity Futures Trading Commission (CFTC) claim to facilitate the buying and selling of binary markets and yes/no contracts. Platforms like Kalshi and Polymarket initially focused on the outcome of real-world happenings and events, from the weather to politics, but more recently ventured into sports.

    State attorneys general, gaming regulators, and certain state lawmakers have said the sports prediction markets are nothing more than sports gambling, but Kalshi and the like do not hold sports betting licenses in states where they operate. They’re even operating in states like California and Texas, where sports betting is illegal.

    Several traditional sportsbook giants, including DraftKings, FanDuel, and Fanatics, recently withdrew their AGA memberships to pursue their own prediction markets. DraftKings Predictions and FanDuel Predicts launched over the past week.

    The AGA is betting on Christie being able to change the narrative.

    They are clearly illegal in the sports gaming space,” Christie told Brewer. “The Supreme Court turned this [sports betting] over to the states. Regulation is very important,” Christie said. “This is not compliant with the law.”

    The CFTC, which administers the Commodity Exchange Act, has allowed its Designated Contract Market (DCM) licensees to offer contracts on sporting outcomes. The CFTC, under the Trump administration, seems unlikely to force prediction markets to cease trading sports contracts. Even the president’s family is prepping a prediction market entry through its media group, and Donald Trump Jr. is a special advisor to Polymarket and Kalshi.

    The Commodity Exchange Act prohibits CFTC licensees from trading contracts involving “gaming” and events “contrary to the public interest” like war, terrorism, and assassination.

    “Just because people brazenly break the law doesn’t mean they should be permitted to do so,” Christie said.

    Sports Integrity in Focus 

    Christie says, unlike legal, regulated sportsbooks, which report suspicious betting activity to state gaming regulators and sports leagues when wagering patterns suggest a game or player could be compromised, predictive markets are like the wild west, where no such monitoring is occurring.

    The things that have happened in the NBA and MLB were discovered because the licensed sportsbooks are partnered with state regulators to look for irregularities. No one is looking for irregularities in sports prediction markets,” Christie said.

    “The CFTC has made it clear they aren’t regulating it with any rigor,” Christie continued. “The CFTC is not doing the job regarding sports, nor do they claim to be doing the job.”  

    Christie will try and help the AGA stress to the CFTC that prediction markets should not be allowed to offer sports contracts. It could be a tall task, as Christie’s relationship with Trump has soured greatly since his 2016 endorsement of the billionaire, something he’s called the “biggest mistake I’ve made in my political career.”

    [ad_2]

    Devin O’Connor

    Source link

  • Gambling Opinions Stay Positive in America • This Week in Gambling

    [ad_1]

    A new report shows Americans’ gambling opinions are more positive than ever, as both participation and public acceptance reach record levels. The survey, conducted by the American Gaming Association, found that 57 percent of adults reported gambling in the past year, the highest level recorded to date. About 30 percent visited a physical casino, while 21 percent placed a sports bet.

    The survey also highlighted growing public acceptance. Ninety percent of respondents said casino gambling is acceptable for themselves or others, and 62 percent said it was personally acceptable. Casino visitation has surged as well, with roughly 53 percent of adults visiting a casino in the past year for gambling or entertainment purposes.

    Respondents expressed strong approval of the casino experience. Most visitors described casinos as innovative and offering good value compared to other forms of entertainment. Americans also recognize the economic impact of the gaming industry, with 77 percent saying it contributes positively to the national economy. The report emphasized that casinos bring new dining and entertainment to communities, drive tourism, and create well-paying jobs.

    Sports betting has received widespread support. Seventy-four percent of Americans favor regulated sports wagering for adults in their state. Responsible gaming is also influencing public opinion. Sixty-four percent of respondents believe that gaming operators are committed to promoting safe play and addressing problem gambling, a notable increase from prior years.

    Among regular gamblers, confidence in the industry’s responsibility is even higher. Casino players and sports bettors overwhelmingly said they believe gambling companies act responsibly. Exposure to responsible gaming messages has also increased, with nearly three-quarters of adults reporting that they noticed such messaging in the past year, up significantly from previous surveys.

    Overall, the survey reflects a shift in gambling opinions in the United States. Participation, economic support, and trust in the industry all indicate that gambling has moved from a niche activity to a mainstream form of entertainment. As more Americans engage with gaming and express favorable views, the industry appears poised to continue growing in both reach and social acceptance.

    [ad_2]

    This Week in Gambling

    Source link

  • AGA Updates Anti-Money Laundering Rules • This Week in Gambling

    [ad_1]

    The American Gaming Association has released an updated version of its Best Practices for Anti-Money Laundering Compliance Guide, designed to help casinos and gaming operators strengthen their defenses against financial crimes. The new edition reflects changes in technology, evolving criminal tactics, and updated regulatory expectations across the gaming sector.

    The latest guide places greater emphasis on Know Your Customer procedures and more detailed guidance for filing Suspicious Activity Reports. A major addition is a comprehensive section on risk assessments, giving operators a clearer framework for identifying vulnerabilities and mitigating potential exposure to money laundering. The guide also expands its focus on digital trends, including online gaming, digital wallets, and cryptocurrency transactions, all of which have become more prominent targets for criminal activity.

    Another key update is the inclusion of new fraud typologies and red flags that front-line employees can use to detect suspicious behavior. The guide also addresses the links between human trafficking and money laundering, a growing concern in the gaming industry and beyond.

    The AGA stressed that strong anti-money laundering practices are essential not just for protecting casinos and their customers but also for maintaining the integrity of the broader U.S. financial system. It is encouraging operators and suppliers to use the updated material to review and improve their internal compliance programs as the industry continues to evolve.

    Since the previous version of the guide was issued in 2022, the U.S. gaming landscape has changed significantly, with more than 1,000 land-based casinos now operating and widespread legalization of sports betting and iGaming. This growth has heightened the need for sophisticated anti-money laundering strategies and closer cooperation between the industry, regulators, and law enforcement.

    Industry experts believe the revised guide will help casinos tighten internal controls, enhance transaction monitoring, and improve training programs for staff on how to spot potential money laundering activities. As gaming companies face increasingly complex financial environments, the updated anti-money laundering guide is expected to play a critical role in helping the industry adapt to emerging threats and regulatory demands.

    [ad_2]

    This Week in Gambling

    Source link

  • Record US Gaming Revenue for Q1 2024 • This Week in Gambling

    Record US Gaming Revenue for Q1 2024 • This Week in Gambling

    [ad_1]

    Commercial US gaming revenue continued its slow growth during the first quarter of this year, but still managed to expand by a healthy margin compared to the same time last year. This according to data compiled by the American Gaming Association from state regulatory disclosures. The industry realized year-over-year growth across both land-based and online gaming, though at slower rates than in the recent past.

    The numbers shows that combined US gaming revenue from commercially operated land-based casinos, sports betting and iGaming increased by 5.6% year-over-year, reaching nearly $17.7 billion for the first quarter. It was also the 13th consecutive quarter of year-over-year growth, as well as the highest-grossing quarter ever for the sector.

    March was a particularly good month with the industry recording its second-highest revenue month ever at just north of $6 billion, which was an increase of nearly 2% from last year. However, December of 2023 still remains the highest-grossing month ever at $6.35 billion. Quarterly revenue from land-based casino slots, table games and retail sports betting came to $12.5 billion, just 0.1% higher than Q1 of 2023.

    Meanwhile, online gaming and sports betting saw a deceleration in annual revenue gains from 39.6% in Q4 to 19.3% in Q1. Still, the combined revenue from online sports betting and iGaming reached a new quarterly high at $5.16 billion. Online gaming made up a nearly 30% share of  revenue in Q1, during which time the industry welcomed two new online sports betting markets in Vermont and North Carolina.

    State and local governments in gaming states saw a record influx of direct gaming taxes in the first quarter. Commercial gaming operators paid an estimated $3.80 billion in taxes tied directly to gaming revenue, an increase of 4.4 percent year-over-year. The AGA tracks US gaming revenue on a regular basis using the Commercial Gaming Revenue Tracker on their website.

    [ad_2]

    This Week in Gambling

    Source link

  • AGA: Q1 2024 Was the Industry’s 13th Consecutive Quarter of Growth

    AGA: Q1 2024 Was the Industry’s 13th Consecutive Quarter of Growth

    [ad_1]

    The American Gaming Association has published its latest Commercial Gaming Revenue Tracker report, highlighting the performance of the US industry. The commercial gaming revenue in the US continued to gain traction, reaching a new quarterly record of $17.67 billion in Q1 2024. This period was notably the industry’s 13th consecutive quarter of growth.

    The AGA added that March, when gaming companies recorded total revenue of $6.09 billion, was the industry’s second-highest-grossing month ever.

    In Q1, 11 US jurisdictions set new quarterly all-time highs, the AGA reported. These included Pennsylvania and New York, two of the largest commercial gaming markets in the US.

    The AGA added that growth was recorded across both the digital and online sectors. Retail gaming was responsible for 70.7% of the total revenue. Online gaming’s share stood at 29.3, which was its highest share ever. The iGaming sector, for reference, grossed $1.98 billion, underpinned by the launch in Rhode Island.

    Sports betting also experienced significant growth as Americans wagered a stellar $36.86 billion on sports in Q1. Sports betting, for reference, generated $3.33 billion in quarterly revenue, up 22% year-on-year. This figure was driven by the launch of betting in new markets, such as Kentucky, Maine, North Carolina and Vermont.

    Bill Miller, AGA’s chief executive officer, said that 2024 will be “the new baseline for future growth.” He added that the industry’s development relies on innovation and responsibility.

    AGA Publishes Its New State of the States Report

    The AGA also released its State of the States report, which provides economic and regulatory analysis of the commercial gaming sector in 2023.

    According to that report, gambling operators paid an unprecedented $14.67 billion in direct gaming tax revenue in 2023, up 9.7% year-on-year. This does not include the income, sales or other taxes, the AGA noted.

    Miller explained that the industry’s expansion is benefitting more communities than ever.

    We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.

    Bill Miller, CEO, AGA

    Speaking of the AGA, the organization recently welcomed the PGA of America as Have A Game Plan partner.

    [ad_2]

    Angel Hristov

    Source link

  • AGA Selects Industry Veteran Michael Rumbolz as Next Chair

    AGA Selects Industry Veteran Michael Rumbolz as Next Chair

    [ad_1]

    Two days after naming an ex-Washington Commanders executive as SVP of strategic communications, the American Gaming Association (AGA) has elected Michael Rumbolz as its new chairman.

    Rumbolz currently serves as the executive chair of Everi Holdings’ board. As chair of the AGA, he will succeed Hard Rock International Chairman and Seminole Gaming CEO Jim Allen. The new appointee’s term is set to begin in January 2024.

    Rumbolz boasts a colorful track record that saw him rise “from a busboy to the c-suite,” the AGA said. His career spans across all levels and aspects of the gaming industry with experience encompassing gaming equipment manufacturing and distribution, hotel and casino operations, casino financial technology, iGaming and compliance.

    Some of the hire’s most notable prior positions include time as chief executive officer of Everi Holdings, member and chair of the Nevada Gaming Control Board and chief deputy attorney general of Nevada.

    Rumbolz’ predecessor, Allen, played a key role in the industry’s impressive post-COVID recovery and the war on illegal gambling. The new hire will be responsible for maintaining the existing momentum and reinforcing the industry.

    Rumbolz Will Be a Valuable Asset to the AGA

    Rumbolz commented on his new position, expressing his gratitude about the opportunity to help shape gaming’s future. He promised to leverage his new position to build on the progress his predecessor made.

    From stopping illegal gambling to evolving responsible gambling, the AGA is tackling transformational issues and I am eager to build on the progress made during Jim’s tenure.

    Michael Rumbolz, chair, AGA

    Bill Miller, the AGA’s president and chief executive officer, welcomed the new hire on board, praising him as “an industry legend in his own right.” Miller is certain that Rumbolz’ prior career has taught him all the skills needed to make him an invaluable addition to the AGA team.

    Mike’s career as an operator, manufacturer and regulator is unparalleled and will be vital to driving meaningful progress on industry priorities.

    Bill Miller, president & CEO, AGA

    Miller also commented on Allen’s departure, thanking him for his exceptional service and help in maximizing the AGA’s impact on the industry. The CEO described the outgoing chair as a “trusted advisor” and said that he is thankful for his partnership.

    Allen also shared his thoughts on the matter, saying that the AGA is poised for reshaping the industry under Miller and Rumbolz’ leadership. He concluded: “Our industry and this association have never been stronger. I am immensely proud of our success over the last two years accelerating gaming’s recovery while defining and advancing new priorities.”

    [ad_2]

    Angel Hristov

    Source link