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Prediction markets aside, the absence of crypto on a federal level may have some drag on the regulated industry, especially in the iGaming and sports betting space.

Younger patrons are increasingly familiar with crypto, but the lack of regulatory adoption in the regulated space can push bettors to offshore or unlicensed platforms, most of which do accept it. At the ICE Barcelona conference in 2025, a panel of international sports betting CEOs lamented the fact that they were barred from adopting crypto, while their black-market competitors were not.

A report released in June by payment provider Paysafe said the percentage of online sports bettors who dabble in crypto is 64%, more than double the US average of 30%. Crypto deposits are only legal in two states, Wyoming and Colorado, but crypto withdrawals are not legal anywhere – 85% of respondents said they would welcome withdrawals as an option, Paysafe said.

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Remote sports betting generated £2.4 billion ($3.2 billion), led by football at £1.2 billion ($1.6 billion) and horseracing at £769.3 million ($1.03 billion).

Despite the increase in remote GGY, new account registrations fell 3% to 32.4 million. There were 25.7 million active accounts at the end of the final reporting quarter.

Funds held in customer accounts also declined sharply. Operators held £886.6 million ($1.19 billion), down 13.9% from the same point a year earlier.

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A deepfake gambling advertisement claiming the father of Canadian soccer star Alphonso Davies was arrested over CA$3 million in purported online casino winnings is shining a spotlight on grey-market enforcement in Alberta’s newly regulated iGaming market.

According to reporting by The Edmonton Sun, an advertiser operating under the name “Prime Spin Zone” placed an ad on Instagram showing Davies’ father being arrested by Edmonton police.

The video shows a vault filled with cash, followed by a scene where Davies’ father is released after police allegedly determine the money came from legitimate gambling, the ad claims.