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- Nearly Quarter of Traders Believe Oil Prices to Eclipse $150 in April - The price for a barrel of benchmark U.S. crude climbed 3.8% to $116.72. Brent crude, the international standard, added 0.7% to $110.58 and is well above its roughly $70 level from before the war in late February.
- Jazz Sports Downfall - A group of players plan to file suit against Jazz Sports former owner, showing he settled a $1.1 million tax issue in the States. Our sources have come forward to spill all the beans.
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Prediction Markets
New Jersey Court Finds in Favor of Kalshi
Tuesday April 7, 2026 (8:24 pm EDT)
A three-judge panel of the Third Circuit upheld a preliminary injunction for the Kalshi exchange against enforcement by the state of New Jersey over sports-related event contracts. In a 2-1 ruling, the panel upheld an injunction for Kalshi granted by the New Jersey district court, ruling that New Jersey’s state gambling laws directly interfere with swaps transactions offered by Kalshi in violation of the CFTC’s exclusive jurisdiction (KalshiEx LLC v. Flaherty, No. 25-1922 (3d Cir. Apr. 6, 2026)).
The ruling means that New Jersey may not proceed with its enforcement action against Kalshi over trading of sports-related contracts.
The panel found that the event contracts are swaps traded on a CFTC-licensed designated contract market (DCM). The panel agreed with the district court that Kalshi demonstrated a likelihood of success on its argument that the Commodity Exchange Act (CEA) preempts New Jersey law from reaching into CFTC-licensed DCMs.
Daily Fantasy Sports
PrizePicks Named An Official Daily Fantasy Partner of the NBA
Tuesday April 7, 2026 (5 pm EDT)
The National Basketball Association (NBA) and PrizePicks, a leading sports entertainment operator in North America, today announced a multi-year partnership, making PrizePicks an official Daily Fantasy Sports Partner of the NBA. The partnership will expand fan engagement through innovative experiences and content.
Through the league partnership, PrizePicks will integrate NBA intellectual property across its daily fantasy and free-to-play products and marketing initiatives. This includes the use of NBA League, collective NBA Team, and NBA Event marks across approved digital platforms, including the PrizePicks app and website. The partnership was facilitated by KLUTCH Sports Group’s Brand Consulting and Sports and Brand Insights divisions.
“This partnership with the NBA marks an important milestone for PrizePicks as we continue to grow alongside one of the most iconic leagues in sports,” said Mike Ybarra, CEO at PrizePicks. “Basketball has always been at the heart of our brand, and this collaboration reflects our deep roots in the game. Our focus has always been on delivering fun and responsible experiences, and working with the NBA allows us to bring that commitment to fans through innovative integrations that enhance how they engage with the game.”
“PrizePicks has established itself as a leader in daily fantasy sports through innovation and a strong focus on the fan,” said Eric Rimsky, Head of Domestic Fantasy, NBA. “We’re excited to collaborate with PrizePicks to enhance the NBA fan experience by combining the league’s unmatched moments with PrizePicks’ interactive innovation, creating new and engaging ways for fans to connect with the game.”
The agreement also enables PrizePicks to execute promotional campaigns and participate in co-marketing efforts across NBA digital and media platforms. Additionally, the National Basketball Players Association (NBPA) will grant PrizePicks the ability to use images of multiple NBA players across its marketing, content and promotional initiatives.
As PrizePicks continues to expand its national footprint, the company remains committed to maintaining the highest standards of compliance, integrity, and Responsible Gaming. In 2025, PrizePicks earned iCAP accreditation from the National Council on Problem Gambling, becoming the first and only fantasy sports operator to receive this certification.
Regional Gambling News (Wisconsin)
Crude Prices to Sail Above $120 in April According to Traders
Tuesday April 7, 2026 (3:08 pm EDT)
Wisconsin Gov. Evers has not offered any inkling as to whether he will sign off on sports betting legislation now siting on his desk. He has until Monday to sign the bill into law, veto it, or do nothing, which would be the equivalent of a veto.
The governor is consulting with tribes that are against the legislation that would allow for those throughout the state to place sports bets online. Currently, apps are only available while on certain tribal property.
“I’ll have to take a look at what the bill actually says, but also talk to those people from whichever tribal nations haven’t signed on where they are at. And so, we’ll be doing some talking with tribal leaders, and hopefully we can get something done,” Gov. Evers said, according to WBAY.
Iran War
Crude Prices to Sail Above $120 in April According to Traders
Tuesday April 7, 2026 (10:40 am EDT)
Those trading on Polymarket had the price of Brent Crude Oil rising above the price of $120 with an 84% chance as of Tuesday morning. And while 79% were backing the under $110 market, nearly a quarter (21%) believed the price of oil would rise above $150.
Oil prices are rising, and U.S. stocks are falling Tuesday as the countdown ticks toward the latest deadline set by President Donald Trump to destroy Iranian power plants and bridges.
Oil prices have spiked because the war has snarled the production and transportation of crude in the Persian Gulf. Much of that oil exits the gulf through the Strait of Hormuz to reach customers around the world, but Iran has blocked it to enemies.
The price for a barrel of benchmark U.S. crude climbed 3.8% to $116.72. Brent crude, the international standard, added 0.7% to $110.58 and is well above its roughly $70 level from before the war in late February.
The worry in markets has been that a long-term disruption will keep oil prices high for a long time and send a painful wave of inflation crashing through the global economy. Iran on Monday rejected the latest ceasefire proposal and instead said it wants a permanent end to the war.
So far in the war, U.S. President Donald Trump has made a series of threats to blow up Iranian power plants if it doesn’t open the Strait of Hormuz, but he has then delayed it several times. The possibility remains that Trump could back down again, among other scenarios, which is keeping uncertainty high.
Politics (California)
Latest Odds to Become Next California Governor
Tuesday April 7, 2026 (10:05 am EDT)
President Trump has thrown his support behind Republican Steve Hilton in the California governor race, but his odds are still long, at least according to the oddsmakers.
BetOnline.ag posted adjusted next Governor of California odds, which you can find below.
The 10 current candidates in the running don't match the list below. Tony Thurmond and Betty Yee are absent because their odds are greater than 100/1.
Eric Swalwell is a heavy, 1/3 favorite, which equates to a 75 percent implied probability.
Swalwell and Tom Steyer are the favorites to advance to the November ballot.
Hilton had 25/1 odds when he was first added to the list back on December 3. His odds dropped to as low as 6/1 on March 12 but have double since.
| Candidate | Current Odds | Odds on 11/3/25 | Odds on 7/31/25 |
| Eric Swalwell | 1/3 (-300) | OFF THE BOARD | OFF THE BOARD |
| Tom Steyer | 7/1 | 40/1 | OFF THE BOARD |
| Matt Mahan | 10/1 | OFF THE BOARD | OFF THE BOARD |
| Steve Hilton | 12/1 | 10/1 | 200/1 |
| Katie Porter | 18/1 | 3/1 | 4/1 |
| Elaine Culotti | 18/1 | OFF THE BOARD | OFF THE BOARD |
| Chad Bianco | 25/1 | 50/1 | 20/1 |
| Antonio Villaraigosa | 28/1 | 12/1 | 3/1 |
| Xavier Becerra | 28/1 | 16/1 | 3/1 |
Offshore Gambling
Jazz Sports Nightmare Continues
Monday April 6, 2026 (8:35 pm EDT)
On Monday, Gambling911.com learned that a group of customers planned to take action against Jazz Sports former owner.... in a U.S. court.
That former owner, known as "Barefoot Mike" (last name not public), insisted to Gambling911 on Monday that he sold the company and is not liable for customer debt moving forward.
Our own sources break down how the sale of Jazz Sports really went down.
Transaction Overview
“Bare Foot Mike” entered into an agreement to sell Jazz Sports to Lou (Robert) and an additional investor. The terms of the agreement included an initial payment followed by a series of installment payments.
Initial Payment and Use of Funds
Mike received the first installment payment as agreed. These funds were used to satisfy his personal tax obligations.
Again, the IRS was made whole in 2024, the year of the sale.
Modification / Forbearance of Subsequent Payments
Mike agreed to forgo or defer receipt of subsequent installment payments. This accommodation was made with the understanding that the funds would instead be used by the Jazz Team to satisfy outstanding obligations to certain third parties, described as “wiseguy and sharp players” (creditors).
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- Chris Costigan, Gambling911.com Publisher
