Entain has echoed BetMGM’s hard stance against the rising wave of US-based prediction markets, with CEO Stella David labeling the sector as operating outside legal boundaries.
Speaking during an investor call, David aligned with earlier remarks from BetMGM CEO Adam Greenblatt, who told investors:
“Our position is clear and aligned with almost 40 state attorneys general, our regulators and our tribal partners. As the law stands today, sports prediction markets are, in essence, illegal sports betting.”
Greenblatt also criticized prediction market operators for sidestepping consumer protections and responsible gaming requirements that licensed sportsbooks must follow.
Platforms like Kalshi and Polymarket are currently tangled in multiple court battles in the US. Meanwhile, a growing number of state regulators are urging operators to steer clear of these services.
Expansion Abroad Raises New Challenges
While the US regulatory climate is tense, Kalshi isn’t backing down. The company has plans to expand into over 140 countries. Though major markets like the UK, Canada, and Australia are currently off the table, Europe remains a key focus.
David acknowledged this international pivot but maintained confidence in traditional sportsbook offerings:
“In regulated markets, sportsbook offering is highly superior to what prediction markets are currently offering.”
She also hinted that Entain remains open to innovation—if features emerge that genuinely appeal to players:
“If there is a new feature that makes sense to them, we would lean into that.”
For UK players, she noted the concept isn’t entirely new, pointing to Betfair’s exchange model as a similar product.
What This Means for the Average Player
For everyday online casino and sportsbook users, this isn’t just corporate posturing. If prediction markets like Kalshi ever get the green light, they could shake up how players bet on current events—from politics to pop culture—rather than just sports.
But for now, the message is clear: operators like Entain and BetMGM see prediction markets as legally and ethically risky. Don’t expect to see these features integrated into your go-to sportsbook anytime soon.
BetMGM Delivers Strong Returns
Entain isn’t just playing defense. The company is optimistic about BetMGM’s trajectory, expecting the joint venture to return $200 million to Entain and MGM Resorts by year-end.
David credited the strong results to growth in both sports betting and online gaming, along with robust support from Entain’s tech teams.
Q3 Performance: Mixed Bag Outside UK
Entain reported steady Q3 growth overall, despite some headwinds. In the UK and Ireland, revenue rose 8% compared to Q3 2024, with online revenue up 15% and retail growing 2%.
International results were more uneven:
- Italy: Revenue from Eurobet, bwin, and Gioco Digitale rose 6%
- CEE: 10% growth
- Brazil: Down 11%
- Australia: Down 6%
Excluding the US, international net gaming revenue rose by 4%.
Bottom Line
Entain is firmly against embracing prediction markets in the US, but it’s still watching the space. For regular players, this means sticking with traditional sportsbook features—for now. The company continues to invest heavily in BetMGM and remains strong in core markets like the UK and Europe, even as other regions like Brazil and Australia soften.
