Entain and BetMGM United on US Prediction Market Stance

Entain has firmly rejected any involvement with US-based sports prediction markets, following similar comments from BetMGM. Speaking during the company’s investor call, CEO Stella David emphasized that these emerging platforms operate illegally in the US and lack the regulatory safeguards of licensed sports betting operators.

David referenced BetMGM CEO Adam Greenblatt’s earlier statement, noting:
"Prediction market operators do not have consumer protection requirements, responsible gaming policies or compliance reporting obligations that licensed sportsbooks maintain. As it stands, sports prediction markets are, in essence, illegal sports betting."

Platforms such as Kalshi and Polymarket are currently facing multiple court cases in the US, while several state regulators have warned operators to avoid these markets.

Global Expansion Raises New Challenges

While legal scrutiny is highest in the US, prediction markets are also exploring international opportunities. Kalshi plans to expand globally, offering services in over 140 countries, including much of Europe, though the UK, Australia and Canada are excluded.

Despite this, David reassured investors that traditional sportsbooks remain superior in regulated markets:
"While innovation is key, sportsbook offerings provide greater security and reliability than prediction markets. New features are always considered to enhance customer engagement, but regulation remains paramount."

Entain and BetMGM Performance Updates

Entain reported robust performance from its BetMGM joint venture, projecting $200 million in returns to parent companies by year-end, driven by strong growth in both sports betting and online gaming. David highlighted the collaborative efforts of both BetMGM and Entain’s tech and product teams in achieving these results.

Quarterly Financial Results

In Q3 2025, Entain’s UK and Irish operations saw an 8% year-over-year revenue increase, with online revenue up 15% and retail up 2%. Internationally, excluding the US, net gaming revenue (NGR) grew 4%, with online NGR rising 5% and retail NGR up 3%.

Italy’s brands ( Eurobet, bwin, and Gioco Digitale ) recorded a 6% increase, while Central and Eastern Europe (CEE) posted 10% growth. However, revenues in Brazil and Australia fell by 11% and 6%, respectively, illustrating regional challenges.

Entain’s stance underscores the ongoing tension between traditional regulated sportsbooks and the expanding, but legally ambiguous, prediction market sector, as operators navigate compliance, innovation and global growth.