# Nebraska Voters Reject Sports Betting Measure Backed by Fanatics By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/49298 Published: 2026-11-05T13:18:22.000Z Updated: 2026-11-05T13:18:22.000Z Section: Regulation > Initiative 441 failed 54.5% to 45.5% in unofficial returns. Fanatics’ prediction-market platform faces criticism from both parties as Democrats are projected to control Congress. Nebraska voters on Nov. 3 rejected an online sports betting measure supported by Fanatics, while lawmakers in both parties have criticized prediction markets such as Kalshi and Polymarket and Democrats are projected to control Congress. Initiative 441 failed 54.5% to 45.5% in unofficial returns. The measure had backing from at least four major sportsbooks: Fanatics, BetMGM, DraftKings and FanDuel. The campaign raised nearly $22 million, most of it from FanDuel and DraftKings. The vote comes as Fanatics tries to gain ground in U.S. sports betting. The company was approaching a 10% market share, while FanDuel and DraftKings together held 75% to 80%. Fanatics is weighing an increase in marketing spending from $350 million to as much as $1 billion in 2027. Founder and CEO Michael Rubin has said the company aims to lead the betting industry. “For Fanatics, we believe we need to be number one in whatever we do,” Rubin said in an October interview. He also said Fanatics has 45 million loyalty-program members and described the next couple of years as “very hard” as sportsbooks and prediction markets compete for customers. Fanatics launched its prediction-market platform, Fanatics Markets, in December 2025. It competes with Kalshi and Polymarket, which have drawn criticism from lawmakers in both parties. In an October letter, Sen. Elizabeth Warren and Republican Sen. John Curtis raised concerns about election-related event contracts. Warren could lead the Senate Banking Committee under a Democratic majority. Democrats were projected to take control of both the Senate and the House. The incoming Congress is scheduled to convene in January. TokenPost has also covered [midterm-related concerns about Treasury yields](). ## Links in this article - [midterm-related concerns about Treasury yields](https://www.tokenpost.com/news/investing/37485)