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But he said he was not concerned. “On the Italian antitrust, we don’t think we are in a risky situation because Italy is not the core of this deal and this doesn’t change the level of concentration in the country and will still be below 40% in each relevant market. So we don’t see that.
“We do not expect revenue attrition. These are complementary brands and complementary models, and we have a history of managing a multi-brand business in Italy, and we already have several brands that run in our business and that are complementary.”
Kyle has been with Clarion since December 2023, joining from the world of sports journalism, subsequently becoming a LatAm-facing senior reporter with iGB.
About Shadow Fight 4: Arena
Beginning with the US presidential elections in November 2024, when prediction markets catapulted into mainstream culture, their rise has been undeniable. Kalshi and Polymarket have seen their valuations balloon to $40 billion and $21 billion, respectively, and the majority of the top US bookmakers have scrambled to expand into the prediction space in various forms, either by building their own exchanges, acquiring existing ones or engaging in market-making.
Commercial sports betting generated just under $17 billion in nationwide revenue in 2025, which is why Davenport asserts that the “stakes of this case are exceptionally high”. Kalshi and Polymarket alone posted more than $45 billion in trading volume, which is similar but not identical to betting revenue, in August. That was a 15% decline from July, although that drop is attributed to the conclusion of the Fifa World Cup tournament that month per Yahoo! Finance.
The American Gaming Association estimates that the exchanges have siphoned more than $1.3 billion in would-be tax revenue from states. One of the AGA’s primary spokespeople pin its fight against prediction markets is former New Jersey governor Chris Christie, who championed the PASPA case to the Supreme Court.
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Canada-based Score Media & Gaming may have just scored a game-winning touchdown. In an announcement made after markets closed yesterday, the company behind theScore and Score Bet sports gambling brands has launched an initial public offering (IPO) as it goes live on the Nasdaq Global Select Market (NGSM). The move follows on the heels of Canada’s preliminary approval of single-event sports wagers, which is expected to greatly benefit Score Media, and could quickly lead to the company’s stock price skyrocketing.
Score Media announced that it is selling five million shares, fewer than previously expected. The company had changed gears with its public launch, announcing last week a reverse split that would cut out some of the available shares while increasing the per-share price. It has already found support, with underwriters Canaccord Genuity, Credit Suisse, Macquarie Capital and Morgan Stanley able to purchase another 15% on top of the initial five million shares. Should they exercise that option, there would be a total of 5.75 million shares available. The underwriters have 30 days to make up their minds, which will give it time to see how the market reacts.
Several gaming entities have jumped into public trading recently, most notably, DraftKings. It saw a huge response when it launched its IPO last year, and Score Media hopes it can see a similar response. With operations in Canada, Colorado, Indiana and New Jersey, heavy interest is not out of the question, and the company is ready to capture a larger piece of the market. It added in its announcement, “[Score Media] currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.”