Speculation Turns to Prediction Markets as Bet365 Exits AGA
Is Bet365 following the path to prediction markets forged by DraftKings and FanDuel?
Following a series of 2025 exits from the American Gaming Association (AGA), bet365 is the latest major US-facing sports betting brand to leave the trade group. Bet365 follows DraftKings, FanDuel, and Fanatics, all of which abandoned the AGA in late 2025 over its objection to prediction markets.
While bet365 has yet to file for prediction markets approval with the National Futures Association, a statement provided by the company to Gambling Insider calls out the divide between tech-first operators and traditional gambling companies with brick-and-mortar roots:
As a digital-first operator, bet365 has pulled back from the AGA due to the organization’s focus on the retail casino industry. We greatly value our industry partnerships and remain committed to working constructively with regulators and partners across the markets in which we operate.”
Hearing news of the exit, the expectation within industry circles is that bet365 is headed toward predictions.
Although the company has not yet applied for market approval, it’s plausible that a prediction offering may rely on an acquisition or a technology partnership, despite the company’s statement.
InGame first reported news about bet365’s departure from the AGA.
The AGA has not responded to Gambling Insider’s request for comment.
AGA Shifts to Land-Based, Tribal Operators, State Rights Focus
According to the Wayback Machine, on this day last year, DraftKings, FanDuel, Fanatics, and bet365 were all listed on AGA’s core membership page as commercial operators. In November, DraftKings and FanDuel announced their departures. At the time, the latter noted its expansion into prediction markets conflicted with the AGA’s stance.
In mid-December, after becoming the first major sportsbook operator to launch a prediction market offering, Fanatics followed suit. DraftKings and FanDuel have since launched their own branded prediction platforms: DraftKings Predictions and FanDuel Predicts.
Beyond operators, AGA’s membership has shifted in step with the industry’s growing interest in prediction markets.
On the supplier side, OpenBet and Sportradar let their memberships expire in January, possibly over client interest in the prediction market vertical. While neither company has explicitly stated its reasoning, Sportradar’s CEO previously identified the markets as a growth opportunity.
During the company’s Q4 earnings call, Carsten Koerl said:
This is a rapidly developing opportunity in the U.S. and one where we are uniquely positioned to capitalize as the B2B leader in our industry with our premium sports rights portfolio and unmatched product suite.”
Another well-known gaming supplier, Everi, also no longer appears on AGA’s membership list. Thought that’s possibly because Michael Rumbolz, Everi’s executive board chair, completed his term as AGA chairman in January.
AGA’s membership evolution affirms its stated focus toward tribal, land-based, and state-regulated gaming, while the organization distances itself from prediction markets.
In a December 2025 letter to members, AGA CEO Bill Miller wrote:
Our position is clear and unwavering: sports event contracts are gambling, and gambling is regulated by states and tribes. In 2026, we will continue to defend this framework and uphold state authority and tribal sovereignty.”
Tensions Between Retail, Tech-First Operators Rise
So far, it’s tech-based platforms, including daily fantasy sports operators Underdog and PrizePicks, following prediction markets’ siren song. Underdog even voluntarily surrendered its North Carolina sports betting license to make the shift.
Even legacy casino brands with substantial online businesses, such as Caesars and MGM, have not yet publicly considered the prediction-market space.
It’s worth noting that Caesars is also no longer a member of the AGA, although its exit predates May 2020, long before prediction markets became a going concern.
BetMGM CEO Adam Greenblatt has said that remaining in industry groups that serve companies offering sports-event contracts, such as the Sports Betting Alliance and Responsible Online Gaming Association, is a “conflict.” For now, however, BetMGM will remain.
For its part, UK-based bet365 is certainly a digital-first operator with limited land-based operations. Still, at least currently, it does not offer prediction markets.
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