Packed with headliners. There’s no other way to describe Letter From America this week, as we feature a clutch of compelling stories that are all about levelling up – or dropping out. Starting with Missouri, read on!
Missouri Breaks
All the big dudes, starting in alphabetical order, from BetMGM, bet365, Caesars Sportsbook, Circa Sports, DraftKings, ESPN BET, Fanatics Sportsbook, FanDuel and Underdog, have secured temporary licences ahead of the Missouri market’s December 1 sports betting launch.
Licence-holders can now begin preparing, with account registrations opening November 17.
Based on comparable markets, Missouri is expected to generate over US$4.5 billion (£3.4bn) in wagers and around US$500 million (£375m) in annual operator revenue. Not bad at all for an opening season.
Little Rhode Island Going Large
The Ocean State is weighing a shift from a single-operator to a competitive multi-operator sports betting market.
And the state lottery’s review, following a round of summer consultations, has seen Bally’s, Fanatics, Kambi, DraftKings, BetMGM, OpenBet and FanDuel express, all express strong support for liberalisation in progressive Rhode Island.
If approved, the market could see three to five additional licences issued. Currently, IGT is the only operator, with its permit expiring in November 2026.
NFL Pucks-Off With Prediction Markets
The National Hockey League has signed “multiyear U.S. agreements” with Polymarket and Kalshi, naming both companies as “official prediction market partners”, making the NHL the first national sports league to endorse these controversial markets.
This means both platforms (plus their brokers, such as Robinhood) can now use official NHL data and logos on their platforms.
Kalshi CEO Tarek Mansour calls it a “seminal moment”.
But critics, the powerful American Gaming Association (AGA) among them, have branded the partnership “deeply troubling”, arguing it legitimises an unregulated product.
This is one story that continues to burn…and burn.
AGA On The Offensive
Speaking of the AGA, they’ve come out swinging and upped their anti-prediction markets (PM) posture by launching a new online resource to educate industry stakeholders and users about the dangers of these controversial disruptors.
The resource features a real-time state tax loss counter, press commentary, public-opinion data and a coalition of regulators opposing the trend.
If you haven’t checked it out, it’s one of the best resources currently available for everything anti-PM – take a look.
All Aboard The Railbird Express
Continuing the PM thread, DraftKings has acquired CFTC-regulated Railbird Exchange, which cocks a finger at regulatory warnings in Arizona, Nevada, Michigan and Ohio.
All these leading states have warned sports-betting operators that getting into bed with prediction market sites could risk their licence.
Nevertheless, it’s still a bold, and potentially game-changing move by DraftKings. Read our full coverage here.
Crypto.com Clipped By Nevada
Crypto betting outfit and recently turned prediction market Crypto.com has been forced out by the Nevada Gaming Control Board (NGCB), which has ordered the company to cease offering sports-event contracts in the state.
According to the NGCB notice issued Friday (November 23): “Earlier this year, Crypto.com sought a preliminary injunction to enjoin the Board from enforcing Nevada law against it. On October 14, 2025, U.S. District Judge Andrew P. Gordon denied that motion.”
“The Board has confirmed that after November 3, 2025, and until the resolution of its [planned] appeal, Crypto.com will not be offering sports event contracts to Nevada residents.”
If the ban proceeds, it would be the first time a PM has been forced to cease operations in a U.S. state – a significant regulatory win.
Sport Betting’s September Blues
New Jersey: GGR reached US$563.7 million (£422.81m), up just one percent, year-on-year; with iGaming hitting US$243.1 million (£182m), up 16.8 percent, while sports wagering fell 24.9 percent, y-o-y, to US$89.8 million (£67m). Land-based casinos were flat at US$230.7 million (£173m).
Pennsylvania: The market continued its upward streak with total revenue up 5.9 percent, y-o-y, in the state to US$535.8 million (£402m). Online casino was the standout at US$233.4 million (£175m), up 32.1 percent. But sports betting plunged 44.5 percent to US$29.7 million (£22m) – its weakest performance since March.
Michigan: A similar story played out in the Great Lakes State as the online market hit gross revenues of US$302.7 million (£227m). Adjusted for promos, it totalled US$256.6 million (£192m). Digital grew 33.5 percent to US$243.4 million (£182m), but sports betting was slashed by more than half, down 52 percent, y-o-y, to just US$13.2 million (£9.9m).
MGM’s Bad Big Apple
MGM Resorts has bowed out of the Great New York Casino Race, dropping its proposed US$2.3 billion (£1.7bn) Yonkers Empire City upgrade.
The company said that since submitting its bid: “The competitive and economic assumptions underpinning our project have shifted.
“With four proposals clustered in a small geographic area”, the prospect no longer delivered the potential economic results originally projected, attested MGM..
Meantime, Resorts World, Bally’s and Metropolitan Park are still in the running.
Watch this space!
