The kickoff of the NFL season each year transforms into a significant window for operators looking to attract new players, marked by an avalanche of promotional offers. This year's opening week has been particularly intense, coinciding with the growing prominence of prediction markets ever since the repeal of PASPA in 2018. With substantial funding pouring into the industry, operators are spending significantly on celebrity endorsements. Over the past week, advertisements featuring notable figures such as LeBron James, Sydney Sweeney, Marshawn Lynch, and Jeremy Piven have flooded the media. Even Pete Sampras, largely absent from public life for years, made an appearance in a Kalshi promotion during the US Open.
Polymarket achieved a milestone by securing endorsements from stars like James, Eli Manning, and Derek Jeter. Yet, an advertisement from Novig starring Sydney Sweeney captured comparable attention. The Emmy-nominated actress, renowned for her role in HBO’s "Euphoria," is featured in an ad named "Just Sports," which as of Friday has garnered over 9 million views on X, the social media platform.
In the advertisement, Novig distinguishes itself by criticizing competitors that indulge in niche markets, including some focusing on political events. Sweeney, in the ad, remarks, "No betting on wars, or deaths…or politics," underscoring Novig's strategy to stick to sports.
Kalshi made headlines during the 2025-26 NBA season by offering two-time MVP Giannis Antetokounmpo an equity stake in the company. Reports reveal that Sweeney’s representatives later approached Novig about potential investment opportunities, leading to an undisclosed equity agreement with the company. The surge in celebrity endorsements is a trend to watch closely in the months ahead.
In Connecticut, prediction markets faced significant backlash from state officials, particularly Governor Ned Lamont. Addressing the issue on September 10, the day after the New England Patriots' season opener, Lamont highlighted concerns over the growth of prediction markets. This led the Connecticut Department of Consumer Protection to issue cease-and-desist orders to nine unregulated operators, including Polymarket, Robinhood, and Underdog Predict.
"Prediction markets have branded themselves as legal and safe, but the reality is they are not adhering to Connecticut’s consumer protection standards," Lamont stated.
In a further measure, Connecticut's department issued around 30 subpoenas to gaming service providers and various media outlets, marking an unprecedented action against those who partner with prediction markets. This included subpoenas served to firms like PayPal, Sportradar Solutions, and Plaid, which, while not under investigation, were implicated for their business relations with these markets.
In other developments, following a significant ruling from the US Court of Appeals for the Ninth Circuit which deemed sports event contracts as not federally regulated swaps under the Commodity Exchange Act, two operators are pursuing different routes to reverse the decision. Kalshi has sought an en banc rehearing, while Robinhood has petitioned the Supreme Court, looking to circumvent the Ninth Circuit entirely. This situation may influence the Supreme Court to review the case due to differing rulings across circuits.
Furthermore, Real App, a social sports application, has formed a partnership with FanDuel, integrating FanDuel’s odds directly into its live sports features. Meanwhile, Fanatics Sports & Casino has announced enhancements to its Fair Play offering, which now includes first-half injury protection for player props, a feature that proved timely as Seattle Seahawks quarterback Sam Darnold was injured shortly into their opener.
According to the American Gaming Association, prediction markets are expected to see approximately $40 billion wagered on the NFL this year. On the inaugural day of the 2026 college football season, Kalshi reported nearly $250 million in trading activity.
