AQR Capital Management is assessing whether to enter sports betting, co-founder and CIO Cliff Asness said in a podcast interview. The company has not disclosed whether it would wager directly or provide liquidity, and Asness cited regulatory uncertainty around prediction markets as a consideration.
AQR’s assessment signals potential interest from an investment firm in sports betting and prediction markets.
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Smarkets is preparing to enter the US prediction-markets sector and is awaiting approval from the Commodity Futures Trading Commission, reportedly. The company hopes to receive approval before the end of the year and expects sports to drive long-term growth.
California tribal leaders met in San Diego in December to discuss responses to prediction-market operators, according to reports. California Nations Indian Gaming Association chairman James Siva said Attorney General Rob Bonta would join amicus briefs and file a state lawsuit; tribal leaders are also considering entering the market if legal or legislative efforts fail. A northern California tribes’ preliminary injunction request was denied.
Missouri House Bill 3533 proposes raising casino admission fees to $5.50, charged every two hours, and adjusting them annually for inflation from fiscal 2027. It would also replace the admission fee for online sports betting through casino licensees with a monthly charge equal to 1.5% of wagers; opponents warned of higher costs for casinos and questioned the proposal’s effects.
Flutter Entertainment chief executive Dan Taylor said on its 4 November earnings call that the company expects more clarity in the coming months on the economics of FanDuel Predicts. FanDuel recorded $119 million in trading volume in the third quarter; Flutter expects its market-making operation to generate $50 million in revenue and $40 million in adjusted EBITDA during 2026.
Coinbase was reportedly preparing to announce plans for prediction markets and may work with Kalshi, according to a presentation slide obtained by a blogger. The slide says Coinbase Financial Markets would offer event contracts through KalshiEX LLC. The companies had already announced a separate relationship involving Coinbase custodying USDC for Kalshi.