The Gambling Wire: Industry Responds to Brazil Betting Ban as G2E Turns to Prediction Markets

Monday brought fresh financial guidance, regulatory friction and new sports-linked products across the gambling industry.

Monday was marked by fresh responses from the gaming industry to Brazil’s provisional online sports betting ban and the opening of G2E in Las Vegas, where prediction markets quickly drew criticism from gaming regulators and industry representatives.

Elsewhere, CME launched NHL team-performance futures, while Coinbase announced plans to enter the increasingly popular digital trading-card segment.

The Big Story: Brazil Ban Produces Uneven Fallout Across Gambling Industry

The gambling industry is responding to Brazil’s sudden prohibition on online sports betting and casinos. Some companies warned of a meaningful financial impact, while others have stated that their exposure is limited.

Flutter announced that it had ceased its operations in Brazil. The company said it would face a reduction of approximately $70 million in revenue and $20 million in adjusted EBITDA if the shutdown continues through the remainder of the year.

Entain maintained its full-year EBITDA guidance, but expects results to be toward the lower end of the range. The company said it expected Brazil to account for 5% of its online net gaming revenue for the year, and the company reduced its online net gaming revenue growth expectation, including Brazil, to 4%-6%.

Better Collective lowered its 2026 guidance, suspended its 2027-28 guidance and halted its share buyback program. Meanwhile, Allwyn said that Betano operator Kaizen Gaming, in which it holds a 36.75% stake, is preparing legal action to protect its Brazilian license. According to some reports, Betano holds the top spot in market share in the country.

The picture is different for suppliers. Genius Sports reaffirmed its 2026 guidance, saying it has minimal attributable betting revenue from Brazil and expects the financial impact to be limited. The company added that its technology relationship with the Brazilian Football Confederation is unaffected.

Kambi CEO Werner Becher similarly said Brazil represents a “low single-digit percentage of Kambi’s revenue” and that the company expects the financial impact to be limited.

President Luiz Inácio Lula da Silva signed a provisional decree on Sept. 25, which took effect immediately. Users have until Oct. 5 to withdraw available funds.

The Brazilian Congress must approve it within 120 days to remain in force.

The Daily Wire

G2E Day One Draws Prediction Markets Industry Pushback

Prediction markets were already a flashpoint on G2E’s opening day. The “Prediction Markets, Regulatory Oversight and Integrity” panel, which included gaming representatives, argued that sports event contracts bypass state licensing and consumer-protection regimes.

American Gaming Association Vice President of Government Relations Tres York said 45 state attorneys general are on record opposing prediction markets and claimed states have prevailed in 38 of 43 related state or federal court matters.

IC360 Vice President of Legal and Regulatory Affairs Joe Casole focused on the similarities consumers see between sportsbook and prediction-market apps. Meanwhile, West Virginia Delegate and Play’n Go government affairs executive Shawn Fluharty argued that sports-related prediction markets should remain under state oversight.

Fluharty compared prediction markets to unregulated moonshine and sports betting, a fine bottle of wine.

The issue remains in focus on Tuesday. Panels include “A United Front: Confronting Prediction Markets” and “From Casino Floors to Prediction Markets: Comparing Compliance, Oversight, and Risk.”

IGT Unveils New Brand Identity at G2E

IGT unveiled a new brand identity at G2E, reflecting the combined company formed by the merger of IGT’s Gaming & Digital business and Everi.

The company said the new identity is centered on integrated casino-floor solutions, in-demand games, operational expertise and customer success. CEO Hector Fernandez said IGT is aiming to provide operators with a more connected ecosystem across its products and content.

IGT said the combined business now spans gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement, with operations organized across Gaming, Digital and FinTech.

FanDuel Edges Kalshi on NFL Pricing as Kalshi Sets Another Volume Record

According to Citizens JMP Securities, Kalshi lost its narrow pricing advantage over leading sportsbooks during NFL Week 3, even as trading activity on the exchange continued to break records.

Citizens found that FanDuel averaged 4.37% implied vig across 30 sampled moneyline and totals markets, narrowly below Kalshi at 4.38%. DraftKings averaged 4.52%. The comparison marked a shift from Week 2, when Kalshi held a more noticeable pricing advantage.

The difference was larger on parlays and combination markets. Kalshi averaged 26.3% implied vig, compared with 23.1% at FanDuel and 21.1% at DraftKings.

Demand nevertheless continued to accelerate. According to TickerTracker data, the exchange recorded approximately $3.04 billion in trading volume on Sunday. The Sunday volume nearly beat Saturday for another single-day record. It was Kalshi’s sixth new daily volume record during September.

CME Launches NHL Futures Based on Team Performance

CME Group has launched futures tied to NHL team performance indexes, offering a sports-linked product that differs from binary prediction-market contracts.

Rather than settling on a single outcome, the FutureSports Performance Indexes track multiple measures of team performance over time. Each NHL team starts at 7,500 points, with the index moving based on statistics such as goals, saves, takeaways, goals allowed, giveaways and penalties, as well as broader milestones including wins and championships.

The futures settle against the value of that index, meaning traders are taking positions on a team’s overall performance rather than whether one specific event occurs.

The launch comes shortly after CME stopped listing new expiries for its sports event contracts, marking a shift toward a different structure for sports-linked derivatives. The new products are regulated futures that can be traded on margin and were explicitly approved by the CFTC.

Wedbush is among the firms providing market access to the new futures.

Coinbase Teases Physical Trading Card Packs

Coinbase is preparing to enter the trading-card pack market, marking another major company’s entry into the increasingly popular digital card-collecting and pack-opening ecosystem.

The crypto exchange teased a mobile product that will allow customers to “rip packs” through its platform, with every pull backed by a physical card that users can either vault or have shipped to them. Promotional imagery featured Pokémon card packs.

Several gaming or prediction market operators have entered, or plan to enter, the digital card trading segment. Fanatics, Underdog, and sweepstakes casino Crown Coins have already introduced products, while Betr is preparing a launch.

Featured image: Toohool via Wikimedia Commons (license)

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