BetProof Daily Intelligence
Wednesday, March 4, 2026
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⚖️ Kalshi Faces Class Action Threat Over Iran Supreme Leader Market Fallout
Former New York legislator Ben Geller is organizing a potential class-action lawsuit against Kalshi following the controversial settlement of its Iran Supreme Leader market. When Ayatollah Khamenei died on March 1, many traders expected full payouts, but Kalshi resolved the market at the last traded price rather than $1.00, citing a "death carveout" policy that was in the contract rules but poorly communicated.
Editorial Take: This is prediction markets' first major integrity crisis—and it won't be the last if operators prioritize profit over transparency.
[Read more →](https://www.gamblinginsider.com/news/115616/kalshi-class-action-iran-supreme-leader-market)
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⚖️ Mick Mulvaney Launches Anti-Prediction Market Coalition
Former Trump chief of staff Mick Mulvaney has launched a new advocacy coalition "Gambling Is Not Investing" to push for state-level regulation of prediction markets like Kalshi and Polymarket. The group argues: "If it looks like a sports bet, if it sounds like a sports bet, if it pays off like a sports bet, if it's on a sporting event—it's a sports bet."
Editorial Take: Smart politics from Mulvaney—attack federal overreach while the industry is vulnerable after the Kalshi debacle.
[Read more →](https://www.casino.org/news/mick-mulvaney-launches-gambling-is-not-investing-coalition-to-crack-down-on-prediction-markets/)
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⚖️ Vermont Proposes Illinois-Style Per-Bet Tax Plus Prediction Market Ban
Vermont House Bill 913 proposes imposing a $0.50 per-wager fee on sports bets (higher than Illinois' graduated structure) and amending state criminal law to explicitly ban prediction market contracts tied to sports, contests, natural persons, politics, disasters, war, or death.
Editorial Take: Vermont's going nuclear—but small-state theatrics won't stop the prediction market revolution.
[Read more →](https://www.gamblinginsider.com/news/115603/vermont-per-bet-tax-prediction-market-ban-h913)
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⚖️ Federal Judge Sends Nevada Kalshi Case Back to State Court
U.S. District Judge Miranda M. Du remanded Nevada's enforcement action against Kalshi back to state court, finding the federal court "lacks subject matter jurisdiction." The ruling allows Nevada to pursue an injunction in state court, which could force Kalshi to geofence Nevada.
Editorial Take: Another crack in Kalshi's federal armor—state regulators are circling like vultures.
[Read more →](https://www.gamblinginsider.com/news/115545/federal-judge-nevada-kalshi-case-state-court-remand)
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⚖️ Tennessee and Oklahoma Senates Pass Sweepstakes Casino Ban Bills
Both Tennessee and Oklahoma Senates passed bills targeting dual-currency sweepstakes casinos. The bills are part of a rapidly expanding crackdown with similar legislation advancing in Indiana, Mississippi, Iowa, Maine, Florida, Maryland, Louisiana, New York, and Illinois.
Editorial Take: The sweepstakes casino party is officially over—operators better pivot fast or face felony charges.
[Read more →](https://www.gamblinginsider.com/news/115520/tennessee-oklahoma-sweepstakes-casino-bills-senate)
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🚀 FanDuel and PokerStars Launch Exclusive Partnership
FanDuel and PokerStars announced an exclusive partnership to launch PokerStars on the FanDuel app in Ontario, New Jersey, Pennsylvania, and Michigan. The partnership will deliver shared player liquidity across the three U.S. states, meaning bigger games, larger prize pools, and broader tournament selection.
Editorial Take: Flutter's doubling down on North American poker dominance while the competition fumbles around with crypto gimmicks.
[Read more →](https://www.casino.org/news/poker-pokerstars-fanduel-partnership/)
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🌍 Maine Expected to Launch iGaming in Late 2026
Maine is expected to launch iGaming in late 2026, becoming the eighth U.S. state to offer legal online casino gaming. iGaming recorded $10.74 billion in revenue in 2025 (up 28% YoY), making it the fastest-growing segment of commercial gaming.
Editorial Take: Maine's joining the iGaming goldmine while other states still debate whether slots are "too addictive." Smart move.
[Read more →](https://www.americangaming.org/resources/commercial-gaming-revenue-tracker/)
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