Americans to Legally Wager $3.3 Billion on March Madness; Nearly Half of Digital Sports Betting Ads Now Come from Prediction Market Platforms

(Photo Provided with Release Courtesy of the American Gaming Association)

Noah Haswell, Beaver County Radio News

(Washington, D.C.) According to a release today in Washington D.C. from the American Gaming Association, (AGA), they estimate that Americans will legally wager $3.3 billion on the NCAA Division I Women’s and Men’s Basketball Tournaments this year, which is a 54% increase over the past three years. This continued growth reflects the strength of the legal state and tribal-regulated sports betting market and the increasing consumer confidence in regulated wagering options. Here are some more statistics, according to that same release from the AGA:

Prediction Market Advertising Surges

  • Sensor Tower data compiled by the AGA shows that prediction market platforms have rapidly increased their presence in sports betting advertising. While digital ad impressions for online sportsbooks declined nearly 14 percent in 2025, impressions tied to prediction market advertising surged dramatically.
  • With the expansion of prediction market advertising, nearly one in five (15%) digital sports betting ads seen by consumers last year did not comply with state-mandated responsible gaming messages. Kalshi alone became the third largest sports betting advertiser by digital impressions in 2025.

Through the first two months of 2026:

  • Nearly half (43%) of digital sports betting ads seen by U.S. consumers did not comply with state gaming regulations requiring responsible gaming messaging since they came from prediction market operators.
  • Kalshi is currently the most visible sports betting brand by digital ad impressions, with consumers exposed to its advertising approximately 5.2 billion times this year, compared with 2.9 billion impressions for FanDuel, the next most frequent sportsbook advertiser.

State- and Tribal Operated Sports Betting Advertising Declining

A Nielsen study commissioned by the AGA shows that despite increased betting activity, overall sportsbook advertising volume has continued its multi-year decline.

  • Total sports betting advertising spend fell 5 percent year-over-year.
  • Sports betting ad volume across all channels declined 1 percent year-over-year and is 27 percent lower than the 2021 peak.
  • Sports Betting TV advertising volume declined 9% and has decreased 50% since 2021

The data show sports betting advertising represents just a small portion of U.S. television advertising.

  • In 2025, sports betting accounted for just 0.9 percent of TV advertising spend, compared with 1.5 percent for alcohol advertising.
  • Sports betting advertising volume (0.3%) is half that of the alcohol industry (0.6%) and dwarfed by pharmaceuticals at 13.9%
    • For every sports betting commercial aired on television in 2025, 39 pharmaceutical advertisements aired.