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- Massachusetts' Highest Court Appeared Skeptical of Kalshi Legal
- Texas Tech Quarterback Brendan Sorsby Reportedly Hires Tom Brady's 'Deflategate' Attorney to Defend Against Gambling Accusations
- U.S. Denies Warship Hit By Iranians Following Reports Suggesting Otherwise From Iran News Media
- Betting Markets Have Price of Crude Oil Hitting Above $110 in May With 78% Chance
- Nearly Half of Northwest Indiana Gambling Ring Defendants Now Out on Bond
- Online Gambling Trailblazer Massachusetts Former Congressman Enters Hospice Care
- NEXT.io Partners with StatsDrone to Host Exclusive Event NEXT Focus: Affiliate
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Prediction Markets
Massachusetts' Highest Court Appeared Skeptical of Kalshi Legal Argument
Monday May 4, 2026 (2:31 pm EDT)
Prediction-markets operator Kalshi on Monday faced a skeptical slate of justices on Massachusetts' highest court, which appeared poised to uphold regulators' authority to ban it from offering sports-events contracts in the state. The court compared Kalshi's offerings to that of traditional sports betting. Heading into today's hearing, Massachusetts Attorney General Andrea Campbell's office challenged Kalshi and won a ruling from a Superior Court judge, who found the state was likely to succeed in arguing Kalshi's offerings constitute sports wagering requiring a license. The state argued that Kalshi should be regulated as a sportsbook. "These prediction markets are illegally offering sports wagers," Massachusetts Gaming Commission Chair Jordan Maynard told WCVB's "On the Record" last month. Polymarket, a Kalshi competitor, filed a preemptive lawsuit against Massachusetts after that ruling.
Gambling News (Colorado)
Colorado Sports Betting Bill Advances With Scaled-Back Restrictions
Monday May 4, 2026 (2:23 pm EDT)
Colorado Senate Bill 131 (2026) aims to tighten regulations on sports betting to curb addiction by banning credit card deposits, limiting users to five deposits per 24 hours, and restricting certain app push notifications. A proposed ban on player prop bets was removed to avoid a \(\$2.5\) million+ annual tax revenue loss. The bill passed the Senate.
Gambling News / College Football
Texas Tech Quarterback Brendan Sorsby Reportedly Hires Tom Brady's 'Deflategate' Attorney to Defend Against Gambling Accusations
Monday May 4, 2026 (8:44 am EDT)
Texas Tech recent quarterback transfer quarterback Brendan Sorsby's Gambling Saga Now Features Tom Brady’s Deflategate Lawyer - Jeffrey Kessler, who represented Brady and led the House v. NCAA case will now be representing Sorsby, who is accused of placing bets while he was on Indiana’s roster in 2022. Sorsby has checked himself into a gambling help group. There are reports that he could be declared ineligible for the 2026 season, depending on the NCAA’s findings. Kessler represented Tom Brady during Deflategate and was the lead attorney in the House v. NCAA case that helped push college sports into its current revenue-sharing era. Now, he appears to be involved in one of the strangest eligibility fights college football has ever seen.
Gambling Crime (Indiana)
Nearly Half of Northwest Indiana Gambling Ring Defendants Now Out on Bond
Monday May 4, 2026 (8:44 am EDT)
Federal authorities arrested 22 people in a 2026 Northwest Indiana illegal gambling ring involving sports betting, extortion, and laundering money through local restaurants. While many were released on bond, others faced significant bail conditions after a multi-state investigation revealed a wide-ranging,, high-stakes, operation. Nearly half of the defendants are now out on bond, according to reports. Read more on this story here
Iran Conflict
U.S. Denies Warship Hit By Iranians Following Reports Suggesting Otherwise From Iran News Media
Monday May 4, 2026 (8:21 am EDT)
Two missiles hit a US frigate in the Strait of Hormuz after it ignored warnings from Iran’s navy to halt, state media quote the army as saying, with the US military saying no vessel was struck. The reported attack comes after US President Donald Trump announced a naval mission, dubbed Project Freedom, to guide stranded ships out of the Strait of Hormuz on Monday. Prediction markets continue to list the chances of the Strait of Hormuz traffic getting back to normal at 6% by May 15, 21% by end of May and 46% by end of June.
Iran Conflict / Business
Betting Markets Have Price of Crude Oil Hitting Above $110 in May With 78% Chance
Monday May 4, 2026 (8:21 am EDT)
The price of Brent Crude Oil was sitting above $103 Monday morning to kick off the month of May and the prediction markets are very much in belief that this price will sail above the $110 mark at some point this month. Even more concerning perhaps, $563,137 Vol in trading volume has thus far been recorded on the $120+ price at Polymarket with traders nearly split (47% believing that price will be hit vs. 53% who say it won't happen). $737,198 Vol was coming in on the $110+ with traders more unanimous at 78%.
Gambling Affiliates
NEXT.io Partners with StatsDrone to Host Exclusive Event NEXT Focus: Affiliate
Monday May 4, 2026 (8:21 am EDT)
NEXT.io is partnering with StatsDrone to host an exclusive, one-day affiliate event called NEXT Focus: Affiliate. The event is set to take place at the Phoenicia Hotel in Valletta on May 25th, 2026. This highly curated experience will be held just days ahead of NEXT Valletta. The NEXT Valletta conference is one of the most influential and anticipated gatherings in the iGaming industry, offering attendees a focused environment to connect, learn, and prepare for the broader conference. From StatsDrone & NousViz co-founder and CEO, John Wright has this to say about this event. “When the team at NEXT.io approached us for a collaboration opportunity, we didn’t hesitate. The one thing that I love about what NEXT does well is they work hard to differentiate themselves from other conferences and always wanting to raise the bar on content. Some of the best panels and sessions I have seen have been at NEXT events so I’m honoured to be part of the content curation for this event. For those that will be attending, I want to give them an impactful day that will inspire and influence the rest of their year with knowledge they wouldn’t get anywhere else. ” The event is going to have a lot of important themes that are highly relevant today for affiliates. That includes SEO, AI & automation, agents, content marketing, tracking your VIP players and navigating shaving.
Politics / Gambling News
Long Time Advocate for Legalized Online Gambling Barney Frank Going Into Hospice Care
May 3, 2026 (12:46 pm EDT)
Sad news to report as we are learning that retired former Congressman Barney Frank of Massachusetts is set to enter hospice care. Frank was a long time advocate for legalizing online gambling at the federal level. Along with former Republican Congressman Ron Paul, the two co-sponsored legislation that would have made internet gambling legal at the federal level. Neither party provided enough votes to get the measures passed in the end, however. The 86-year-old Frank was diagnosed with congestive heart failure and says his heart is “reaching that stage” where it may give out
- Chris Costigan, Gambling911.com Publisher
