DraftKings IncPotential legalization of online sports betting in California could expand market access for DraftKings.
California tribal leaders are aiming for a 2028 ballot measure to legalize online sports betting, according to Legal Sports Report. California Nations Indian Gaming Association Chair James Siva said during a podcast last week that tribes view 2028 as the target for placing a sports betting ballot initiative back before voters. The push follows the 2022 rejection of two competing measures, Proposition 26 and Proposition 27, which would have allowed in-person betting at tribal casinos and horse tracks or online and mobile betting outside tribal lands, respectively. Tribes are framing their new proposal as a safer, state-regulated alternative to the prediction markets industry. Sportsbook operators such as DraftKings, FanDuel, and BetMGM could benefit if the framework allows partnerships with tribes or other license pathways similar to prior California proposals.
DraftKings IncPotential legalization of online sports betting in California could expand market access for DraftKings.
Flutter Entertainment plcFlutter, parent of FanDuel, could benefit from California online betting legalization.
MGM Resorts InternationalMGM, part-owner of BetMGM, may gain from potential California online betting market.
BetMGM could benefit if California legalizes online sports betting with partnership pathways.
FanDuel could benefit from potential California online sports betting legalization.