On July 31, 2026, the state of New York filed a case against prediction market Kalshi, accusing the platform of running an illegal and unlicensed gambling operation and...
New York sports betting wagers hit $26.3 billion in 2025, a 15.8% rise from 2024, representing the biggest single-year increase for the state.
Gross revenue for 2025 was $2.55 billion, which was a 25% increase from 2024, and the statewide hold rate rose to 9.7%.
The leading operators of the market were DraftKings and FanDuel, generating 76% of all operator revenue. Operators also generated $1.32 billion in tax revenue for New York. Over the last three months of 2025, New York collected over $397 million in taxes.
FanDuel came in first, producing over $1.1 billion in revenue throughout the year and $120.1 million in just December 2025. DraftKings got bets worth over $800 million in December 2025, generating $84 million in revenue.
The New York State Gaming Commission reported that mobile sportsbooks generated $259.7 million in revenue, which was a 72.7% increase from December 2024.
Bets totaled $2.38 billion in December 2025, while mobile sportsbooks reached a 10.9% hold rate, resulting in $132.4 million in tax revenue.
Entering 2026, New York saw sportsbooks earning more than $70 million in the first week of January. The increased numbers were connected to the end of the NFL regular season and college football bowl games.
