US Gamblers to Wager $3.3 Billion on March Madness Tournaments.

The article focuses on the projected legal wagering on the NCAA men's and women's basketball tournaments in the United States, estimated at $3.3 billion this year by the American Gaming Association, marking a 54% increase over three years due to more states legalizing sports betting. It highlights the distinction between traditional sportsbooks, which take the opposite side of customer bets, and prediction markets like Kalshi Inc. and Polymarket, where users trade yes-or-no contracts on game outcomes, a sector that has grown rapidly since early 2025 and is currently involved in legal disputes over regulatory oversight. The article also notes a decline in advertising spending by traditional sportsbooks, contrasted with increased ad spending by prediction market companies, which now represent 43% of sports-betting advertising. [Extracted from the article]