"New Hampshire has raked in more than $170 million through a partnership with the wagering company DraftKings since legalizing sports wagering in 2019. However, the rise of Kalshi and Polymarket could threaten these revenues, as they operate outside state gaming laws."
"Lang plans to introduce legislation that would allow New Hampshire to join other states in suing prediction market companies, asserting that they should not be able to skirt state laws that fund education and services."
"States including Connecticut, Michigan, and Washington are currently engaged in court battles with prediction market companies, which argue they operate as financial markets rather than sportsbooks, thus avoiding state revenue sharing."
New Hampshire state Sen. Tim Lang expresses concern over declining state revenues from sports betting due to the rise of prediction markets like Kalshi and Polymarket. Since legalizing sports wagering in 2019, New Hampshire has earned over $170 million through DraftKings. Lang intends to introduce legislation to allow the state to sue these prediction market companies, arguing they circumvent state gaming laws and threaten funding for education and other services. Other states are also pursuing legal action against these companies to regulate their operations.
Read at www.npr.org
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