Dan Bernstein
@dan-bernstein.bsky.social
Currently: Assistant Editor, Sportico.
Previously worked at Sporting News, GOAL and others.
Started in a little newsroom in College Park 🐢
Previously worked at Sporting News, GOAL and others.
Started in a little newsroom in College Park 🐢
Robinhood has a valuation that exceeds DraftKings, FanDuel, Polymarket and Kalshi combined.
No wonder its purchase of prediction market infrastructure is turning heads.
My analysis...
No wonder its purchase of prediction market infrastructure is turning heads.
My analysis...
Robinhood Boldly Expands Online Betting With Exchange Purchase
By owning an exchange and clearinghouse, Robinhood opens the door to more revenue on a per-prediction market wager basis in its app.
www.sportico.com
November 26, 2025 at 5:05 PM
Robinhood has a valuation that exceeds DraftKings, FanDuel, Polymarket and Kalshi combined.
No wonder its purchase of prediction market infrastructure is turning heads.
My analysis...
No wonder its purchase of prediction market infrastructure is turning heads.
My analysis...
NEW: Almost everything about Kalshi’s sports parlays—the RFQ system that executes them, the financial results for retail users, the quiet rollout—seem to conflict with the public image company execs are trying to create.
Kalshi’s Parlays Bring Limitations, Losses to Most Retail Bettors
The prediction market claims it is not gambling and compares its product to investing in the stock market despite the mechanics of its sports bets.
www.sportico.com
November 19, 2025 at 4:20 PM
NEW: Almost everything about Kalshi’s sports parlays—the RFQ system that executes them, the financial results for retail users, the quiet rollout—seem to conflict with the public image company execs are trying to create.
Our prediction markets for dummies explainer has been updated again with some of the recent developments. Hard to keep up.
Hopefully useful for the people who have no idea what I've been talking about the past year!
Hopefully useful for the people who have no idea what I've been talking about the past year!
What Are Sports Prediction Markets? Key Questions Answered
Kalshi, Crypto.com and Robinhood are among the big players who have gotten involved in sports futures trading this year.
www.sportico.com
November 14, 2025 at 5:45 PM
Our prediction markets for dummies explainer has been updated again with some of the recent developments. Hard to keep up.
Hopefully useful for the people who have no idea what I've been talking about the past year!
Hopefully useful for the people who have no idea what I've been talking about the past year!
CFTC staffers past and present are puzzled about one of Kalshi's go-to explanations for why going offline anywhere for any amount of time could be harmful.
Recent Nevada court developments have also been revealing.
So where did the claims originate? New story...
Recent Nevada court developments have also been revealing.
So where did the claims originate? New story...
A Frequent Kalshi Claim Is Being Undermined by Nevada, CFTC
Among Kalshi's go-to arguments about the potential harm from going offline in any state for any amount of time is the suggestion of CFTC punishment.
www.sportico.com
November 12, 2025 at 7:55 PM
CFTC staffers past and present are puzzled about one of Kalshi's go-to explanations for why going offline anywhere for any amount of time could be harmful.
Recent Nevada court developments have also been revealing.
So where did the claims originate? New story...
Recent Nevada court developments have also been revealing.
So where did the claims originate? New story...
The Luka Doncic trade has been a disaster for the Dallas Mavericks.
But as I detailed in June, it has been a big win for one niche web video game.
Here's that story, which Nico Harrison's reported dismissal makes relevant today...
But as I detailed in June, it has been a big win for one niche web video game.
Here's that story, which Nico Harrison's reported dismissal makes relevant today...
Indie Basketball GM Video Game Spikes in Wake of Doncic Trade
"Basketball GM" simulates the role of basketball general manager and has gained prominence as an indie gaming success story after a real-life trade.
www.sportico.com
November 11, 2025 at 3:52 PM
The Luka Doncic trade has been a disaster for the Dallas Mavericks.
But as I detailed in June, it has been a big win for one niche web video game.
Here's that story, which Nico Harrison's reported dismissal makes relevant today...
But as I detailed in June, it has been a big win for one niche web video game.
Here's that story, which Nico Harrison's reported dismissal makes relevant today...
If Saudi Arabia's ambition is to become the world leader in everything video games, it needs to beat East Asia's mobile dominance.
The pending EA deal could help with that.
The pending EA deal could help with that.
EA Could Help PIF Compete in Asia-Led Mobile Gaming Business
Electronic Arts is in the process of being taken private by a group led by Saudi Arabia's Public Investment Fund (PIF).
www.sportico.com
November 6, 2025 at 4:24 PM
If Saudi Arabia's ambition is to become the world leader in everything video games, it needs to beat East Asia's mobile dominance.
The pending EA deal could help with that.
The pending EA deal could help with that.
The Trump family has deepened its ties to sports betting.
Trump Family Deepens Sports Betting Ties Amid Industry Disruption
Donald Trump's family is deeply tied to a growing form of sports betting, which could have major regulatory implications.
www.sportico.com
October 28, 2025 at 6:52 PM
The Trump family has deepened its ties to sports betting.
Reposted by Dan Bernstein
The only other sports teams in the world to hit the $1 billion mark are the NFL’s Dallas Cowboys and LaLiga giants Real Madrid and Barcelona.
How the Dodgers Became First MLB Team to Hit $1 Billion in Revenue
The Dodgers are the first MLB team to generate $1 billion in gross revenue, joining the Cowboys, Real Madrid and Barcelona as teams to hit the mark.
www.sportico.com
October 27, 2025 at 7:50 PM
The only other sports teams in the world to hit the $1 billion mark are the NFL’s Dallas Cowboys and LaLiga giants Real Madrid and Barcelona.
Reposted by Dan Bernstein
Gambling isn’t the only eye-catching part of Thursday’s federal indictment in the NBA betting case. It also puts tanking back in the spotlight by alleging that the 2022-23 Blazers intentionally lost games (and leaked inside info about said strategy)
My take:
www.sportico.com/leagues/bask...
My take:
www.sportico.com/leagues/bask...
NBA Gambling Investigation Renews Spotlight on Tanking
The NBA gambling scandal involving Terry Rozier and Damon Jones also details alleged tanking plans.
www.sportico.com
October 24, 2025 at 3:12 PM
Gambling isn’t the only eye-catching part of Thursday’s federal indictment in the NBA betting case. It also puts tanking back in the spotlight by alleging that the 2022-23 Blazers intentionally lost games (and leaked inside info about said strategy)
My take:
www.sportico.com/leagues/bask...
My take:
www.sportico.com/leagues/bask...
Something I've been thinking about for months is how prediction markets will impact geolocation tech companies.
New feature story from me...
www.sportico.com/business/tec...
New feature story from me...
www.sportico.com/business/tec...
Kalshi Puts Geolocation Tech Providers on Edge Amid Rapid Rise
Because prediction market exchanges are offered without restriction in all 50 states, some aren't paying for advanced tracking tools.
www.sportico.com
October 16, 2025 at 5:06 PM
Something I've been thinking about for months is how prediction markets will impact geolocation tech companies.
New feature story from me...
www.sportico.com/business/tec...
New feature story from me...
www.sportico.com/business/tec...
Reposted by Dan Bernstein
A proposed overhaul to college soccer includes a promotion/relegation system 👀
College Application: U.S. Soccer Submits New Game Plan for NCAA
NCAA soccer could soon look far different based on recommendations in a U.S. Soccer-sponsored “NextGen White Paper” released Thursday.
www.sportico.com
October 16, 2025 at 3:47 PM
A proposed overhaul to college soccer includes a promotion/relegation system 👀
In China:
Meta ❌
Google Search ❌
Reddit ❌
Kalshi ✅ (?)
Meta ❌
Google Search ❌
Reddit ❌
Kalshi ✅ (?)
Kalshi Says Global Push Includes China, India Launches
Despite potential legal hurdles, the prediction market platform told Sportico it will offer its product in Asia's biggest countries.
www.sportico.com
October 13, 2025 at 6:25 PM
In China:
Meta ❌
Google Search ❌
Reddit ❌
Kalshi ✅ (?)
Meta ❌
Google Search ❌
Reddit ❌
Kalshi ✅ (?)
Reposted by Dan Bernstein
Happy Sportico NHL valuations day to those who celebrate.
Ranking list here: www.sportico.com/feature/nhl-...
Ranking list here: www.sportico.com/feature/nhl-...
October 1, 2025 at 3:32 PM
Happy Sportico NHL valuations day to those who celebrate.
Ranking list here: www.sportico.com/feature/nhl-...
Ranking list here: www.sportico.com/feature/nhl-...
Kalshi launched custom parlays last night, a long-awaited feat one would expect the company to shout from the rooftops.
Instead, there has been complete radio silence.
Instead, there has been complete radio silence.
Kalshi’s Parlay Breakthrough Happens Quietly in the Night
Users could place bet parlay bets before two "Monday Night Football" games.
www.sportico.com
September 30, 2025 at 3:31 PM
Kalshi launched custom parlays last night, a long-awaited feat one would expect the company to shout from the rooftops.
Instead, there has been complete radio silence.
Instead, there has been complete radio silence.
South Park gave prediction markets some free PR last night
‘South Park’ Episode Spotlights Kalshi, Polymarket Brands
The show has enjoyed a ratings resurgence this year, and Kalshi and Polymarket celebrated the humor in its latest Season 27 episode.
www.sportico.com
September 25, 2025 at 7:32 PM
South Park gave prediction markets some free PR last night
Big Ten refs are insane, stop the steal!
2025 Maryland football the greatest team in college football history
September 20, 2025 at 5:16 PM
Big Ten refs are insane, stop the steal!
2025 Maryland football the greatest team in college football history
September 20, 2025 at 5:01 PM
2025 Maryland football the greatest team in college football history
Kalshi says it never wins when users lose.
That's not true—at least for the parent company. Kalshi Trading, owned by Kalshi Inc., is a for-profit entity operating on the exchange.
We break down the affiliate and how its existence seems to contradict Kalshi's public messaging.
That's not true—at least for the parent company. Kalshi Trading, owned by Kalshi Inc., is a for-profit entity operating on the exchange.
We break down the affiliate and how its existence seems to contradict Kalshi's public messaging.
Kalshi’s Trading Arm Muddles ‘Peer-to-Peer’ Claims
Kalshi Inc. is a holding company that owns both a prediction market exchange and a trading arm that participates on the exchange.
www.sportico.com
September 11, 2025 at 4:12 PM
Kalshi says it never wins when users lose.
That's not true—at least for the parent company. Kalshi Trading, owned by Kalshi Inc., is a for-profit entity operating on the exchange.
We break down the affiliate and how its existence seems to contradict Kalshi's public messaging.
That's not true—at least for the parent company. Kalshi Trading, owned by Kalshi Inc., is a for-profit entity operating on the exchange.
We break down the affiliate and how its existence seems to contradict Kalshi's public messaging.
Kalshi and Polymarket say state law doesn't apply to them.
What about intellectual property law? That's the latest potential land mine they're testing, so far without pushback.
What about intellectual property law? That's the latest potential land mine they're testing, so far without pushback.
Kalshi, Polymarket Use NFL, NFLPA Marks Without Consent
The league has told Kalshi and Polymarket what it wants before a deal. The companies are now using NFL (and NFLPA) branding without any agreement.
www.sportico.com
September 8, 2025 at 4:15 PM
Kalshi and Polymarket say state law doesn't apply to them.
What about intellectual property law? That's the latest potential land mine they're testing, so far without pushback.
What about intellectual property law? That's the latest potential land mine they're testing, so far without pushback.
Reposted by Dan Bernstein
I became a law professor in 2005, and have taught sports law every year. Looking back at my syllabus from 20 years ago, let's just say things have changed—from the NCAA, to sports betting to marijuana. Plus now it's a "real" area of law. My
@sportico.bsky.social column:
@sportico.bsky.social column:
20 Years Later, Teaching Sports Law Is a Whole New Ballgame
Michael McCann became a sports law professor in 2005 and has seen this area of law evolve dramatically since that time.
www.sportico.com
September 8, 2025 at 1:09 PM
I became a law professor in 2005, and have taught sports law every year. Looking back at my syllabus from 20 years ago, let's just say things have changed—from the NCAA, to sports betting to marijuana. Plus now it's a "real" area of law. My
@sportico.bsky.social column:
@sportico.bsky.social column:
Reposted by Dan Bernstein
The way his hands waggled lets me know she was woofing at him like a Rottweiler on the loose, goddamn
September 6, 2025 at 1:23 AM
The way his hands waggled lets me know she was woofing at him like a Rottweiler on the loose, goddamn
Reposted by Dan Bernstein
Just seven years ago, WNBA players didn’t appear in 2K at all. Since then, women’s basketball has enjoyed a wave of commercial and cultural momentum that made Take-Two take notice.
‘NBA 2K26’ Is a New Frontier for WNBA Players in Video Games
NBA 2K26 features the deepest integration of WNBA player intellectual property since WNBA players first appeared in the game in 2019.
www.sportico.com
September 5, 2025 at 2:09 PM
Just seven years ago, WNBA players didn’t appear in 2K at all. Since then, women’s basketball has enjoyed a wave of commercial and cultural momentum that made Take-Two take notice.
Manchester United has more than 20 players on its books whose earnings this season will eclipse every Grimsby player combined.
Man United Has 96 Times the Payroll of the Fourth-Tier Club It Lost To
Ruben Amorim's squad has spent another $200 million in transfer fees this summer. It still lost to a fourth-tier opponent.
www.sportico.com
August 28, 2025 at 1:02 AM
Manchester United has more than 20 players on its books whose earnings this season will eclipse every Grimsby player combined.
Reposted by Dan Bernstein
Roger Goodell and a host of athletes donated to Jay Feely's campaign.
Jay Feely, Worth Up to $65M, Brings NFL Riches, Niches to Congress Bid
Former NFL kicker Jay Feely reported a net worth of up to $65 million in his candidate financial disclosures with the House Clerk.
www.sportico.com
August 21, 2025 at 7:44 PM
Roger Goodell and a host of athletes donated to Jay Feely's campaign.
NEW: Polymarket will be in the U.S. for NFL season, and like Kalshi, it is not shying away from sportsbook lingo and imagery.
In one ad, it uses the logos of DraftKings, FanDuel and BetMGM.
In one ad, it uses the logos of DraftKings, FanDuel and BetMGM.
Polymarket Ads Signal U.S. Launch Timeline for Sports Futures
Sports prediction markets are on track to gain prominence this NFL season. Polymarket will be among them.
www.sportico.com
August 21, 2025 at 6:27 PM
NEW: Polymarket will be in the U.S. for NFL season, and like Kalshi, it is not shying away from sportsbook lingo and imagery.
In one ad, it uses the logos of DraftKings, FanDuel and BetMGM.
In one ad, it uses the logos of DraftKings, FanDuel and BetMGM.