Following today's session, SB 595 has been adopted by the North Carolina Senate with amendments proposed in Conference Report #2. If passed in its newly adopted form and signed by Gov. Josh Stein, it will bring multiple changes to tax administration and sports wagering revenue calculations.

Firstly, it amends the definition of gross wagering revenue to ensure certain bonus activity is included, which could increase the amount of revenue counted for regulatory and tax purposes. Secondly, it requires licensed sports wagering operators to provide requested information to the NC Department of Revenue, which could include outcomes of wagers, amount of winnings paid, and other player information deemed necessary to determine tax compliance.

And, following the last update, the official release from the CFTC regarding its lawsuit against Kentucky.

The CFTC states that the lawsuit against Kentucky is "to block the state's efforts to shut down CFTC-registered contract markets using state laws." This follows Kentucky's lawsuits against Kalshi and Polymarket, which were filed on June 17.

The CFTC will file a lawsuit later today suing Kentucky, a source told Front Office Sports.

The United States Attorney for the Southern District of New York has announced that Nathan Austad has been sentenced to 18 months in prison for his role in hacking users on a fantasy sports and betting website. In addition to the prison term, Austad will also be subject to three years of supervised release and ordered to pay $463,684.48 in forfeiture and $1,327,061 in restitution.

Austad and others used a credential stuffing attack to compromise approximately 60,000 user accounts and steal approximately $600,000. He is the third defendant to be sentenced in the investigation.

In an exclusive, the New York Times reports that two employees with knowledge of the matter say that Mark Zuckerberg recently dispatched a small team to create an app, internally referred to as "Arena", that would be similar to Polymarket and Kalshi.

In another regulatory battle retreat, Kalshi has added India to its restricted list and ceased operations in the country.

This comes weeks after India's technology ministry warned that prediction market platforms were illegal. Kalshi's website had already been inaccessible through multiple Indian ISPs since the last week of May.

 Elie Mishory has been named as Novig's Chief Regulatory and Legal Affairs Officer.

Mishory previously served as Chief Regulatory Officer and General Counsel at Kalshi, as well as at the CFTC itself.

The Lumbee Tribe's gaming vote is currently underway and set to close at 7:30 p.m. ET, meaning we likely won't see a final result today.

For more context, this vote could enable the Lumbee Tribe to move forward with its planned Lumbee Dark Water Resort, which, aside from being the only tribal casino in the area, would also include a family hotel, museum and heritage center, convention and entertainment center, and more, according to initial plans.

The next closest tribal casino in North Carolina is the Catawba Two Kings Casino, which would be just under a three-hour drive away.

BetMGM and MGM Resorts International have signed multi-year agreements to extend their partnerships with Major League Baseball - relationships that began in 2018.

Under these agreements, MGM Resorts will continue as MLB's exclusive Integrated Resort & Casino Partner.