Montana Sports Betting Revenue Remains Steady Despite Prediction Market Apps

State officials say Sports Bet Montana generated over $66 million in sales in Fiscal Year 2025, with $3.95 million supporting STEM scholarships and the general fund.

Apr. 13, 2026 at 3:34am

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A fractured, multi-perspective painting in bold, contrasting colors that breaks down a sports betting scene into sharp, overlapping geometric planes, conceptually representing the tension between established and emerging betting platforms.The complex interplay between traditional sports betting and the emergence of prediction market apps is captured in a cubist-inspired illustration.Missoula Today

Despite the rise of prediction market apps like Kalshi and Polymarket, Montana's sports betting revenue has remained steady, with Sports Bet Montana generating over $66 million in sales in Fiscal Year 2025. The state's sports betting model remains in-person only, unlike the prediction markets that allow users to place bets on their phones. Montana is closely monitoring the issue as lawmakers in other states, like Minnesota, work to restrict prediction market wagering.

Why it matters

The growth of prediction market apps has raised concerns about their impact on traditional sports betting revenue. Montana's steady sports betting numbers suggest the state has so far been able to maintain its market share, but officials are closely watching the situation as federal and state lawmakers consider new regulations.

The details

Brady Shulz, the sports betting manager for the Montana Lottery, says Sports Bet Montana generated over $66 million in sales in Fiscal Year 2025. Of that, about $3.95 million is supporting the state's STEM scholarship and general fund, with licensed sales agents also receiving a share. Shulz said Montana is still seeing growth despite prediction market apps' rise in popularity, with a 13% year-over-year increase in sales. However, he acknowledged that prediction markets have 'found a loophole' under federal regulation, and Montana Gambling Control and the Department of Justice are reviewing the issue.

  • In Fiscal Year 2025, Sports Bet Montana generated over $66 million in sales.
  • Montana is seeing a 13% year-over-year increase in sports betting sales.

The players

Brady Shulz

The sports betting manager for the Montana Lottery.

U.S. Sens. Steve Daines and Tim Sheehy

Montana's U.S. senators, who NBC Montana reached out to for their stance on the Prediction Markets Are Gambling Act but received no response by publication time.

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What they’re saying

“These prediction markets have certainly found a loop hole and are more federally regulated it appears. So I think kind of for us it's definitely just a wait and see kind of deal, see what comes out of it, see what goes on in other states and see what our own legislature does regarding prediction markets and then we'll go from there.”

— Brady Shulz, Sports betting manager, Montana Lottery

What’s next

Montana Gambling Control and the Department of Justice are reviewing the issue of prediction market apps, while lottery officials wait to see what happens in other states and in Montana's own Legislature.

The takeaway

While prediction market apps have found a regulatory loophole, Montana's sports betting revenue has remained steady, with the state closely monitoring the situation and ready to respond if necessary to protect its sports betting market.