Circa Sports' Stevens criticises prediction markets over fee treatment
Regulation · SectorWire deskSource published
Summary
Circa Sports owner Derek Stevens told CDC Gaming that prediction market operators such as Polymarket and Kalshi avoid fees and taxes that sportsbooks pay, calling them "pirates" and "thieves". He said Circa's low-hold model had lost a decent amount of handle to prediction markets. Stevens also said Circa Sports was recently licensed in Arizona and will go live there in January 2027, subject to change.
Why it matters
Operators paying excise tax, state gaming taxes, league-data fees and problem-gambling funds face lower-cost competition from prediction markets, Stevens argues.
Cite as: SectorWire, “Circa Sports' Stevens criticises prediction markets over fee treatment”, 11 August 2026, https://sectorwire.news/item/circa-sports-stevens-criticises-prediction-markets-over-fee-treatment/