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Commercial sports betting generated just under $17 billion in nationwide revenue in 2025, which is why Davenport asserts that the “stakes of this case are exceptionally high”. Kalshi and Polymarket alone posted more than $45 billion in trading volume, which is similar but not identical to betting revenue, in August. That was a 15% decline from July, although that drop is attributed to the conclusion of the Fifa World Cup tournament that month per Yahoo! Finance.

The American Gaming Association estimates that the exchanges have siphoned more than $1.3 billion in would-be tax revenue from states. One of the AGA’s primary spokespeople pin its fight against prediction markets is former New Jersey governor Chris Christie, who championed the PASPA case to the Supreme Court.

As with PASPA, this matter revolves heavily around federalism versus states’ rights. Traditional sports betting is governed by individual state regulators with varying laws and regulations. Federal derivatives are regulated by the CFTC, which has fully embraced prediction markets under US President Donald Trump after rejecting them in previous administrations.

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But Entain warned the current timeline, which would enforce the ban by August 2027, was not timely enough, allowing unlicensed operators to sponsor Premier League clubs for another full season.

Premier League clubs are prohibited from any form of gambling front-of-shirt sponsor, after a voluntary ban came in from the start of the 2026-27 campaign.

But Entain found 11 of the current 20 Premier League clubs still hold sponsorship or advertising arrangements with operators that don’t hold a UK licence, up from the government’s estimate of eight.