gambling

A gambling licence may appear like paperwork concerned with the gambling business and lawyers. Its impacts extend far beyond. Licensing rules affect revenue, business investment, consumer confidence, and government control over money flowing through digital platforms.

Online gambling also raises an old issue about economic policy. When regulation is too light, consumers risk more. Make the cost and complexity of playing too high, and players could move to an offshore operator that pays no local taxes and has no local regulator.

The real question is whether a country can build a system that people and businesses have a reason to use.

A Licence Sets the Ground Rules

Licensing decides who may enter a market and what they must prove before accepting customers. Regulators may review an operator’s finances, ownership, technology and responsible gambling controls.

High fees and lengthy applications often favour larger companies, while weaker checks can expose customers to greater risk. Approval is only the beginning.Better case management can help regulators monitor compliance, investigate complaints and act when rules are broken.

Clear licensing rules can also give reputable operators more confidence to invest. When expectations are consistent and decisions are made within a reasonable timeframe, businesses can plan more effectively, hire locally and build services that meet national standards.

Tax Rates Can Change Player Behaviour

Governments pay close attention to gambling tax receipts because the rate can shape the wider market. Higher taxes may increase revenue from each licensed operator, but they can also reduce competition, discourage investment and make offshore sites more attractive.

Lower rates may bring more operators into the regulated market, although they can leave less funding for oversight, public education and treatment services. Licence fees, corporate taxes, gambling duties and enforcement costs all need to be considered together.

Higher rates can also fall short of revenues when they do not provide sufficient incentive to regulate while encouraging activity in other markets.

These decisions are felt throughout the economy. A predictable tax system can help ensure local employment, contracts with local suppliers, and long-term investment; a tax surge could make operators reduce operations or exit the industry.

Enforcement Is Where Regulation Becomes Real

How a customer might feel the strength of enforcement: they will never read the licensing statute. But when there is a delay in withdrawal, an age check fails, or when there is a complaint and no response, then they will feel the strength of enforcement.

Regulators need trained staff, reliable data and clear legal powers to deal with these problems. Readers can also find casino sites regulated in your country to understand which licensing framework may apply before checking the operator against the regulator’s official register.

Oversight becomes more difficult when companies, customers and payments cross several jurisdictions. Regulators may need to trace payment flows, inspect ownership structures and work with banks or technology providers to address money-laundering risks and unlicensed activity.

“Licensed” Means Different Things Across Borders

Anyone researching legal online casinos by country soon finds that a licence issued in one place may carry little legal weight in another.

A casino can be a locally licensed casino in one country and an offshore casino in the neighbouring one. National market rules can be disjointed even in integrated economies, and operators and customers have to deal with varying rules in different jurisdictions.

Players should consult the official register of the relevant player’s regulator and read the laws of their state or province, especially if there are differences between them.

For operators, these differences can raise compliance costs and slow expansion into new markets. Each jurisdiction may require separate applications, technical checks and reporting systems, even when the underlying service remains largely the same.

Cross-Border Markets Need Cooperation

Online operators can get licensed in one country, raise funds in another, and provide customer service in several others. This makes enforcement challenging in situations where it is shared amongst authorities.

A gap can be plugged by providing information about ownership, payment activity, advertising infractions, and non-licensed operators. Explicit cooperation also helps expedite complaints and complicates a company’s ability to avoid accountability by relocating sections of its operations.

Cross-Border Markets Need Shared Oversight

An operator can be registered in one country, have technology in another country, and process payments in a third country. In situations where evidence and responsibility span borders, it can be difficult for national regulators.

Information-sharing can help authorities trace ownership, investigate suspicious payments and respond to unlicensed activity. Modern Diplomacy’s analysis of transparency in digital governance makes a wider point that applies here: disclosed information has value when regulators and consumers can understand it and act on it.

A licensing framework should therefore be judged by what happens in practice. Can customers resolve disputes? Can regulators remove unsuitable operators? Does legal activity stay inside the taxable market?

Those answers reveal far more than the licence badge displayed at the bottom of a website.

18+ Please gamble responsibly.

The NFL has suspended Arizona Cardinals personnel executive Ryan Gold indefinitely for violating the league’s gambling policy.

The league said Friday that its investigation determined that Gold provided confidential, non-public inside information regarding 2026 draft selections by the Cardinals before the picks were announced, and Gold also participated in parlay bets on NFL and college games. The league didn’t say who Gold had provided with the information.

“The Gambling Policy, which is annually reviewed with all NFL personnel, strictly prohibits anyone in the NFL from participating in or facilitating any form of sports gambling, and from providing third parties non-public information,” the NFL said in a statement. “Although there is no reason to believe the integrity of any NFL game was affected, the League takes any violation of the Gambling Policy with the utmost seriousness.”

The Cardinals also issued a statement, saying: “The NFL’s policies and expectations for all employees are clear, comprehensive, and consistently communicated. We fully support the league’s decision in this matter, which involves a single employee. Our focus remains on preparing for the start of training camp next week and the 2026 season.”

Gold, who is in his 13th season with the Cardinals, was promoted to director of college scouting in June 2025. He spent the previous three years (2022-24) as the assistant director of college scouting after working for four seasons (2018-21) as a college scouting coordinator.

Gold has the right to appeal the suspension. He couldn’t immediately be reached for comment Friday.

The NFL has strict gambling policies for players and club and league personnel. The league has also dedicated significant resources to its gambling education program, reaching more than 20,000 people associated with the league.

The policy says players must not:

• Place any bet on NFL football;
• Throw or fix any NFL game or event, or otherwise manipulate or attempt to manipulate any play or other aspect of an NFL game;
• Share confidential, non-public information regarding any NFL game, player or event with any third party.

NFL players — but not league or club staff — are allowed to legally place bets on other sports as long as they are off club property or not traveling with the team. They also are allowed to take part in traditional fantasy football leagues (prize money cannot exceed $250) and legally gamble at casinos on personal time.

The NFL said the Cardinals fully cooperated with the investigation and the league has seen no indication that any other member of the organization, coach or player was aware of or involved in this activity. The league also said there was no indication that any play or game was affected by this activity.

The NFL’s review included interviews with relevant people and an examination of electronic records.

At least 15 players have been suspended by the league for gambling violations since 1963, including several in recent years, but none since Isaiah Rodgers (then with the Indianapolis Colts) was suspended indefinitely in June 2023.

Maaddi writes for the Associated Press.

Former Lakers Malik Beasley and Ed Davis were charged with wire fraud conspiracy and bribery in sporting contests by federal prosecutors in a sweeping indictment that included four other co-conspirators.

Both played one season with the Lakers during long careers, Beasley in 2022-23 and Davis in 2014-15.

According to the indictment, Beasley illegally manipulated his performance to ensure gamblers won prop bets two years before he played for the Lakers and one year after.

Davis — described in the indictment as Beasley’s “gatekeeper” — allegedly collaborated to manipulate Beasley’s performance when they were Minnesota Timberwolves teammates during the 2020-21 season and did so again four times during the 2023-24 season while Beasley was with the Milwaukee Bucks.

The illegal activity allegedly began during a Jan. 26, 2024 game between the Bucks and Cleveland Cavaliers. Beasley averaged 11.3 points that season and 11.7 during his career, but scored three points in that game.

In total, the defendants and their co-conspirators allegedly placed fraudulent wagers totaling hundreds of thousands of dollars on Beasley’s fixed performances.

Also indicted were NBA player agent Paolo Zamorano, William Brown, Robert Gorodetsky and Ernesto Plascencia. They are charged with wire fraud conspiracy, bribery in sporting contests and money laundering conspiracy for allegedly bribing Beasley to manipulate his performance. Zamorano was Davis’ agent.

Several of the defendants were arrested Monday.

“As alleged, the defendants turned professional basketball into a criminal betting operation, bribing then-NBA player Malik Beasley to fix his performance in multiple games in order to place fraudulent wagers, enrich themselves and cheat legitimate sportsbooks,” said Joseph Nocella Jr., United States Attorney for the Eastern District of New York. “Bribery and insider betting schemes like this one involving former NBA players and a current NBA player agent who exploited inside NBA information for profit erode the integrity of American sports and victimize the sports-watching public.”

Beasley, 29, has been under investigation for more than a year and sat out the 2025-26 season. The Detroit Pistons offered him a three-year, $42-million contract last offseason but rescinded it when informed by authorities that the nine-year veteran was suspected of participating in the illegal gambling scheme.

At first glance, neither player seemed to be vulnerable to bribes from gamblers. Beasley has made $59.2 million during his career, including a career-high $15.6 million with the Lakers. He averaged 11.1 points in 26 games that season.

Davis, 37, played for eight teams in 12 seasons before retiring in 2022 having made $47.2 million.

However, prosecutors allege that Beasley borrowed substantial sums from Davis to pay off gambling debts and attempted to repay him through the illegal activity. A year ago Beasley was successfully sued by his former agency for $2.5 million over a contract dispute. He also was sued for $6 million by South River Capital, a company that specializes in making loans to athletes.

“These defendants allegedly operated an illegal betting ring in an attempt to unlawfully earn hundreds of thousands of dollars,” said James C. Barnacle Jr., FBI Assistant Director in Charge. “As alleged, Malik Beasley allowed himself to be bought and altered his game-time performance to line pockets of Ed Davis and his other co-conspirators.”

Prosecutors also allege Beasley rigged his performance during three games with the Bucks in 2024 — a Feb. 27 game against the Charlotte Hornets, a March 10 game against the Clippers and a March 21 game against the Brooklyn Nets.

Five current or former NBA players have been indicted as part of the FBI investigation into illegal sports gambling and insider information trading. Veteran guard Terry Rozier is facing four charges, while former Lakers assistant coach Damon Jones and former Toronto Raptors center Jontay Porter have pleaded guilty to felony conspiracy to commit wire fraud.

The expansive gambling indictment also ensnared Hall of Fame player Chauncey Billups and several organized crime figures.

Published on
24/06/2026 – 14:16 GMT+2

Meta CEO Mark Zuckerberg has given the green light to develop a prediction market app, according to the New York Times, as Meta moves to capitalise on one of the fastest-growing sectors in tech and finance.

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The app is currently being referred to as Arena internally and would let users earn points for correctly predicting the outcomes of events such as sports results, political developments and stock market moves but without any real money changing hands, at least initially.

It would operate independently of Meta’s existing social platforms, though those could funnel users towards it, according to the reporting.

What is a prediction market?

A prediction market is essentially a financial exchange where people buy and sell contracts or bets tied to the outcome of real-world events.

Each contract is a simple yes-or-no question, such as whether a certain candidate will win an election, a team will come out first in a championship or if a major political figure will pass by a certain date.

On Polymarket and Kalshi, the two most popular prediction market platforms, users buy contracts that pay out $1 if they are right and nothing if they are wrong.

As more people trade those contracts, the price reflects the market’s probability of the event occurring. If a bet is worth 40 cents, there’s a 40% chance of it happening, according to the people who have placed bets.

Fans of prediction markets argue the mechanism produces more accurate forecasts than polls or political analysts because participants have real money on the line.

Polymarket and Kalshi

The two dominant platforms in the space are Polymarket and Kalshi, which together generated around 85–90% of the roughly $44 billion (€40bn) in total trading volume recorded in 2025.

Polymarket, founded in 2020 by New York University dropout Shayne Coplan, operates globally on the blockchain. In October 2025, the New York Stock Exchange’s parent company invested $2 billion (€1.8bn) in the platform, in a major sign that Wall Street was taking the sector seriously.

Kalshi, founded in 2018 by two MIT graduates, spent years winning regulatory approval before launching as the first prediction market sanctioned by the US Commodity Futures Trading Commission (CFTC).

The turning point came in October 2024, when a US court ruled Kalshi could legally offer election contracts 32 days before the presidential election. Monthly trading volume has since surged from less than $5 billion (€4.6bn) in September 2025 to around $24 billion (€21.8bn) in April 2026, overtaking the roughly $14 billion (€12.7bn) wagered monthly through legal or traditional US sportsbooks.

Donald Trump Jr. becoming an investor in Polymarket and a paid adviser to Kalshi, while federal regulators adopted a more permissive stance, also helped fuel the boom.

The risks

The boom has not come without controversy and legal cases have mounted, with a former special forces soldier getting arrested over allegations he used insider knowledge of a US operation to capture Venezuelan president Nicolás Maduro to place a winning trade on Polymarket worth around $400,000 (€365,000).

Some US states have begun suing the platforms, arguing they are running illegal gambling operations without proper licences. The Trump administration has responded by suing the states that have moved to ban prediction markets, creating a messy legal standoff between federal and state authority.

A New York Times review found that Polymarket published hundreds of false and misleading social media posts, while Politico uncovered a campaign to pay influencers to praise the platform’s supposed accuracy.

Whether Meta’s gamified, cashless version of the concept can avoid those pitfalls or will simply serve as a gateway to them remains unclear.

A month away from its closure, onetime gambling oasis Primm, Nev., located along the state border with Southern California, has a new lease on life.

The Primm family, owners of the land that includes three casino resorts and other businesses along the 15 Freeway, announced Tuesday a partnership intended to save the struggling state-line strip and hundreds of jobs.

The deal allows Las Vegas-based Terrible’s, owned by the Herbst family and perhaps most famous for a string of gas stations and convenience stores, to operate the properties.

“What we saw with them is the same energy that we had in rebuilding Primm,” said Cory Clemetson, describing the new deal with Terrible’s in an interview with The Times. Clemetson is president of Primm South Real Estate Co. and a grandson of Primm founder Ernie Primm, who made a name for himself in Southern California in the 1930s and ’40s with his Gardena card rooms.

In the summer of 2025, signage blocks an entrance at Primm Mall, a once-popular site along with the trio of casinos at the California-Nevada state line.

(Bridget Bennett / For The Times)

“Primm has long been one of Nevada’s most recognizable destinations,” said Tim Herbst, president of Terrible’s, in a statement. “This partnership reflects our commitment to preserving that legacy while creating new opportunities for growth, investment, and tourism for decades to come.”

Terrible’s takes over for Affinity Gaming, owned by private equity company Z Capital Partners, in the full-circle world of southern Nevada gaming. In 2010, Herbst Gaming declared bankruptcy and saw Primm taken over by Z Capital Partners.

An email to representatives for Affinity Gaming was not immediately returned.

The process for the return of Terrible’s to Primm kick-started May 5, when Affinity confirmed the closure of Primm Valley Casino Resorts.

Affinity’s subsidiary, Primadonna Co. LLC, sent termination notices to more than 300 employees effective July 4.

The closure was devastating, Clemetson said.

“It felt like a gut punch,” he said. “I mean, you’ve got to be kidding me that they would announce something like that for the Fourth of July. Laying off in excess of 300 Nevadans who are mostly paycheck to paycheck with nowhere to go didn’t sit well with my family.”

Primm Valley was the last of three resorts built between 1977 and 1994 at the site that remained in full operation.

Buffalo Bill’s, the largest of the three resorts, closed 24-7 operations in July 2025, after Whiskey Pete’s, the original casino, shuttered in December 2024.

Affinity Gaming declined multiple requests from The Times to speak about Primm’s struggles.

In a letter presented at a Clark County Board of Commissioners meeting, Erin Barnett, Affinity’s vice president and general counsel, wrote in October 2024 that “traffic at the state line has proved to be heavily weighted towards weekend activity and is insufficient to support three full-time casino properties.”

Scott Butera, Affinity’s chief executive and president, offered a few comments about the closure at the May 21 Nevada Gaming Commission meeting.

“As a tenant with a difficult lease and an expensive property and increased competition every day in California … it just became a very difficult thing,” he said, “and we’ve been losing money for years there.”

Clemetson said that Affinity asked for help over the years, such as potential rent reductions, but that the Primm family was unaware of Affinity’s finances.

As for the future, Clemetson said Terrible’s was in the process of reacquiring a gaming license for Primm, which he hoped would happen in the next three weeks.

He also said it was the goal of the Herbst and Primm families to try to keep all workers who received a termination notice employed.

Clemetson said he was excited about Primm’s future under Terrible’s and chalked up its bankruptcy in 2010 to the Great Recession.

“They suffered a similar fate of many big brands like MGM and Caesar’s,” Clemetson said.

“They’re very well thought of in Nevada and they’re a very successful family who’s done well,” he added.

Speaking of Primm’s chances of regaining its former glory, Clemetson reached back into his own past as a young sports agent for players on the L.A. Galaxy soccer team.

“I can’t tell you how many people told me I was dumb to get involved representing soccer players because soccer would never make it here,” he said. “Now, Major League Soccer has a few franchises over a billion dollars.”

As for Tim Herbst and his family, “we believe Primm’s best days are still ahead.”