States have lost over $1 billion in tax revenue to prediction markets, gaming group says

The American Gaming Association estimates prediction market platforms have cost states nearly $1 billion since the start of 2025, a figure now topping $1 billion

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The American Gaming Association estimates that prediction market platforms have cost state governments more than $1 billion in foregone gaming tax revenue, with the bulk of that figure accumulating since the start of 2025.

Speaking on CNBC's "Squawk Box," Bill Miller, the association's president and CEO, tied the revenue shortfall directly to the taxes states collect from licensed gambling operators. "It's about states and tribes that are losing literally a billion dollars today in state and tribal revenue that would........

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