US Commercial and Tribal Gaming Revenue Hits Record Highs in 2026

US commercial gaming revenue hit $7.06 billion in May 2026 alone, up 4.6 percent year on year, while tribal gaming posted a record $46.2 billion in gross gaming revenue for fiscal year 2025, according to the American Gaming Association and the National Indian Gaming Commission. The records come even as the AGA says prediction markets have already cost states more than $1.21 billion in lost gaming tax revenue.

How much revenue did US commercial gaming generate in 2026 so far?

US commercial gaming revenue reached $7.06 billion in May 2026, a 4.6 percent increase over the same month in 2025, according to the American Gaming Association's State of the States 2026 tracking data. For the first five months of 2026, commercial gaming revenue totaled $34.0 billion, up 6.4 percent year on year. That momentum builds on a record 2025, when full year commercial gaming revenue reached $78.61 billion, a 9.1 percent increase worth more than $6.5 billion in additional revenue, as first reported by Casino.org.

How did tribal gaming perform in fiscal year 2025?

Tribal gaming posted $46.2 billion in gross gaming revenue for fiscal year 2025, a 5.3 percent increase over fiscal year 2024 and the highest annual total in the history of Indian gaming, according to the National Indian Gaming Commission's data reported by Gambling Insider. Seven of the eight NIGC regions recorded year on year growth, indicating the increase was broad based rather than concentrated in one or two large markets.

What is the combined size of the US gaming industry now?

Combining commercial and tribal gaming, the AGA estimates total US gaming revenue at around $125 billion, spanning in person casinos, sports betting, iGaming and tribal casino operations. In person casino revenue alone reached $51.7 billion in 2025, up 2.3 percent, while sports betting revenue hit $16.9 billion and iGaming revenue reached $10 billion, according to the AGA's State of the States 2026 report.

How many US states set gaming revenue records in 2025?

Thirty four states plus Washington, DC set annual gaming revenue records in 2025, and 37 of the 38 jurisdictions that report commercial gaming revenue posted year on year increases, with Missouri the sole exception at flat year on year results. 2025 marked the fifth consecutive year of record breaking commercial gaming revenue nationally, according to the AGA.

How much tax revenue does US gaming generate?

US commercial gaming generated $17.9 billion in gaming tax revenue for state and local governments in 2025. "This success generated $17.9 billion in gaming tax revenue for state and local governments, funding education, infrastructure, and other essential community services," said AGA president and CEO Bill Miller. That figure covers commercial gaming only and does not include the separate revenue sharing agreements tribal operators pay to states under compacts.

How are prediction markets affecting gaming tax revenue?

The AGA's own tracker estimates that prediction markets offering sports event contracts have already cost states more than $1.21 billion in lost gaming tax revenue since they began operating in the sports betting space. The AGA argues that prediction markets, which are regulated federally as derivatives rather than as gambling, let operators offer effectively nationwide sports wagering without the state licensing fees, taxes and consumer protections that commercial sportsbooks must meet.

How big have prediction markets grown in sports betting?

Prediction markets accounted for roughly 27 percent of comparable US sports betting activity during the 2026 World Cup, up from about 9 percent at the start of the year, with trading volume exceeding $50 billion in June 2026 alone, according to Gambling Insider's reporting on AGA and NIGC data. That growth trajectory is a central reason the AGA and tribal gaming organizations are pressing regulators and courts for clarity on how prediction markets should be licensed and taxed.

How are tribal gaming organizations responding to prediction markets?

Tribal organizations argue that prediction markets violate exclusivity agreements they hold under the Indian Gaming Regulatory Act, which in many states grants tribes the exclusive right to offer certain forms of gambling in exchange for revenue sharing payments. "While overall it may have went up, many tribes and different regions are experiencing losses," the Indian Gaming Association's chairman said, underscoring that the national tribal revenue record does not mean every individual tribal operator is unaffected by prediction market competition.

Which state's results best illustrate the prediction markets debate?

Pennsylvania is a useful case study. Combined iGaming and sports betting revenue surpassed traditional casino gaming revenue in the state for the first time, with sports betting revenue reaching $662.90 million, up 35.9 percent year on year, a trend covered in more detail in our report on Pennsylvania's gaming revenue topping $7 billion for the first time. That kind of rapid digital growth is exactly the segment prediction markets are now competing for.

What are regulators doing about prediction markets right now?

Courts and regulators are actively weighing in. A federal court ruling on Washington State's attempt to block Kalshi, examined in our coverage of the Washington Kalshi injunction, is one of several ongoing legal fights over whether states can regulate prediction markets the way they regulate sportsbooks. The outcome of these cases will likely determine how much of the AGA's estimated $1.21 billion in lost tax revenue states can eventually recover, or whether the figure keeps growing.

What does record revenue mean for the sports betting and iGaming outlook?

Record commercial and tribal revenue suggests the underlying demand for regulated gaming remains strong, even as prediction markets pull volume away from licensed sportsbooks in some states. Sports betting revenue growth of 8.5 percent for the January to May 2026 period, despite a 1.8 percent year on year dip in May specifically, points to a market that is still expanding overall but facing more month to month volatility as prediction markets capture a growing share of comparable wagering activity.

US commercial and tribal gaming revenue, key figures

Metric	Figure	Period
US commercial gaming revenue	$78.61 billion (up 9.1 percent)	Full year 2025
US commercial gaming revenue	$34.0 billion (up 6.4 percent)	January to May 2026
US commercial gaming revenue	$7.06 billion (up 4.6 percent)	May 2026
Tribal gaming gross gaming revenue	$46.2 billion (up 5.3 percent), a record	Fiscal year 2025
Combined US gaming revenue estimate	Around $125 billion	2025
Gaming tax revenue for states and localities	$17.9 billion	2025
Prediction market lost gaming tax revenue estimate	Over $1.21 billion	Since prediction markets entered sports betting

Sources: American Gaming Association State of the States 2026, National Indian Gaming Commission, as reported by Casino.org and Gambling Insider.

Frequently asked questions

What was US commercial gaming revenue in 2025?

US commercial gaming revenue reached $78.61 billion in 2025, up 9.1 percent from 2024, marking the fifth consecutive record breaking year, according to the American Gaming Association.

What was tribal gaming revenue in fiscal year 2025?

Tribal gaming generated $46.2 billion in gross gaming revenue in fiscal year 2025, up 5.3 percent from fiscal year 2024, the highest annual total on record, according to the National Indian Gaming Commission.

How much tax revenue does US gaming generate for states?

US commercial gaming alone generated $17.9 billion in gaming tax revenue for state and local governments in 2025.

How much have prediction markets cost states in gaming tax revenue?

The AGA estimates prediction markets have cost states more than $1.21 billion in lost gaming tax revenue since they began offering sports event contracts.

What share of sports betting activity do prediction markets now hold?

Prediction markets accounted for about 27 percent of comparable US sports betting activity during the 2026 World Cup, up from around 9 percent at the start of the year.

Are tribal gaming operators affected by prediction markets?

Yes. Tribal organizations say prediction markets violate exclusivity agreements under the Indian Gaming Regulatory Act, and the Indian Gaming Association's chairman has said many individual tribes and regions are experiencing losses even as the national total set a record.