Sugar Monster

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A 40% weekly increase at Crypto.com combined with the attrition at Kalshi may reflect the enormity of the Robinhood deal, according to Kelley.

With all activity, beyond just football, Crypto.com recorded trading volume of $350 million for the week, figures from The PM Pulse show. The newsletter, which is in partnership with Aldrin Research for monitoring industry trends, indicated that Crypto saw weekly growth of 41%. While Kalshi and Polymarket accounted for more than $15 billion in weekly volume, four others recorded activity of at least $300 million. Buoyed by a popular Sydney Sweeney ad, Novig increased volume by nearly 34% on the week.

Moving forward, prediction markets could see a bump from appearances by several high-profile teams in primetime during Week 2. On Thursday, the Buffalo Bills will make their regular-season debut at Highmark Stadium against the Detroit Lions. Enthusiasm among supporters of the “Bills Mafia” for the opening of the $2.2 billion stadium could pad weekly totals on prediction markets. New York is one of the nation’s largest markets for sports betting and predictions.

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In its market-specific breakdown, the report noted a “rapid reduction in channelling” in the UK, following the increased use of affordability checks.

The remote gaming duty hike from 21% to 40% in April is also expected to have a significant impact on the black market, with Regulus estimating it could drive the market to be worth up to €1 billion, as consumers choose illegal offerings to access unrestricted bonuses.

Other studies have made similar estimations. In June last year two thirds of bettors surveyed by YouGov said the tax increase, which will also hit online sports betting from next year, would drive them to play with unlicensed operators.

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This segment is predominantly made up of Sun Bingo in the UK, a white label brand which Playtech said it was reviewing in March, due to the impact of the UK Remote Gaming Duty hike earlier this year.

Regarding further investment into the company, it said high-growth verticals like live casino were receiving targeted capital deployment, while in terms of geography, the Americas remained a core focal point for the company. It expects to reach profitability in the US this year.

Nicole cut her teeth in local news rooms at home in Gibraltar, and helped to establish the peninsula’s first online-only broadcaster.