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“Although each jurisdiction has its own legal system, market characteristics and regulatory priorities, many of the challenges we face are increasingly global. Combatting the illegal market, preventing money laundering, protecting consumers and ensuring betting integrity require ever-greater cooperation among regulators from different countries.”

Macorin will attend the IAGR Annual Conference in Peru (19-22 October). There, regulators and industry representatives from around the world will discuss emerging challenges and opportunities in gaming and betting regulation.

“IAGR is extremely grateful for Fabio Macorin’s willingness to dedicate his extensive talents to representing South America at a pivotal time for gaming regulation across the region,” said IAGR Vice President Brian Krolicki.

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Though the winner elected to remain anonymous, they shared details on how the massive win came about.

I chose a Quick Pick and spent just $2 on a single line of Powerball numbers. I never could have imagined that a $2 purchase would lead to a $1.04 billion jackpot. This is truly a blessing, and I’m incredibly grateful for this unexpected and extraordinary opportunity,” the winner said.

“I initially didn’t believe I had won, so I called a family member to confirm it,” the winner said. “Even after claiming the prize, I’m still processing the news and experiencing the full range of emotions that come with winning a billion-dollar jackpot—from disbelief and shock to overwhelming elation.”

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A hearing before the Supreme Court would be the culmination of what has been the biggest sports betting-related development since PASPA. Perhaps no other issue has united gaming stakeholders from various companies, tribes, states and regulators.

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.