Gaming All In: Your Weekly Gaming Round-up

Research evidence excerpt

Gaming All In: Your Weekly Gaming Round-up

J P M O R G A N Europe Equity Research

10 July 2026

Gaming

All In: Your Weekly Gaming Round-up

European Leisure, Hotels & Gaming Gaming stocks extended their outperformance versus the broader market –

except for Allwyn (-5%) – helped by gains in FLTR/DKNG after Michael Estelle Weingrod AC

Burry disclosed long positions, arguing a potential regulatory squeeze on (44-20) 7742-8502

prediction markets could ultimately benefit the mainstream operators. On estelle.weingrod@jpmorgan.com

J.P. Morgan Securities plc

newsflow: (i) Italy’s June OSB grew a solid +30% y/y, with Retail SB up AC Karan Puri

+23% y/y; (ii) Germany raised online slot stakes in an effort to improve

(44-20) 7742-8342

channelisation; (iii) Brazil tightened betting ad rules (effective July 17); and karan.puri@jpmorgan.com

(iv) North Carolina’s Governor approved the OSB tax hike. J.P. Morgan Securities plc

Avni Garg

Prediction markets continued to generate headlines, including North Carolina (91-22) 6157-3431

signing a new 6% PM tax into law, a federal judge denying Kalshi’s injunction avni.garg@jpmchase.com

request against NY regulators, Nevada senators urging a funding bar that J.P. Morgan India Private Limited

would prevent the CFTC from pursuing state-level lawsuits, and New Jersey Specialist Sales contact details:

seeking an extension to file a Supreme Court petition tied to the Kalshi ruling.

Olivia Petronilho - Specialist Sales -

Separately, Kalshi moved to dismiss a New Mexico tribal lawsuit on the European Consumer

grounds of federal pre-emption. Adding to the friction, Michigan’s regulator (44-20) 3493-3709

reportedly quit the NCPG, citing concerns around the group’s partnership olivia.b.petronilho@jpmorgan.com

with Kalshi.

North America

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