AGA forecasts more than $3bn in legal March Madness wagers
American Gaming Association predicts a 54% increase over a three-year period on bets placed across the men’s and women’s NCAA basketball tournaments
The American Gaming Association (AGA) has forecast $3.3bn will be legally wagered on this year’s March Madness basketball tournaments.
The trade body noted that the figure would represent a 54% increase in legal wagers over the last three years.
Such growth has been attributed to the “strength of the legal state- and tribal-regulated sports betting market and increasing consumer confidence in regulated wagering options.”
March Madness encompasses NCAA Division I women’s and men’s basketball tournaments.
The first games of the men’s gauntlet are set to commence on March 17, with the women’s bracket kicking off on March 18.
AGA president and CEO Bill Miller said: “March Madness is the highlight of the college basketball season and fans are gearing up for a month of tournament action.
“Fans continue to engage with legal, state- and tribal-regulated sports betting in record numbers during one of the biggest moments on the sports calendar.”
The AGA also highlighted the growing influence of prediction markets platforms when it comes to sports betting marketing.
AGA data revealed 43% of digital sports betting ads seen by US customers during the first two months of 2026 came from prediction markets, meaning they did not comply with state gaming regulations requiring responsible gaming messaging.
In terms of digital ad impressions, Kalshi was the most prevalent brand for sports betting ads.
The platform had its ads interacted with around 5.2 billion times so far this year, way ahead of the 2.9 million impressions FanDuel received in second place.
Overall, digital ad impressions for online sportsbooks declined nearly 14% in 2025, while 15% of online sports betting ads seen by consumers last year did not carry the required state-issued responsible gaming messages.
Miller added: “Confidence in your wager – and in the integrity of the games – starts with a fair and compliant betting market.
“That’s why it’s so important everyone offering sports bets in the US comply with state and tribal regulations, ensuring that consumers are protected.”
The ongoing legal disputes between state regulators and prediction markets platforms continues to rumble on.
Regulators in Tennessee and Connecticut have also sent cease-and-desist orders to prediction market platforms, including both Kalshi and Polymarket, in recent months.
Lawmakers in Nevada, Massachusetts and Michigan have also pushed back against the likes of Kalshi and Polymarket.
In February, AGA data indicated the US commercial gaming industry generated gross gaming revenue of $78.2bn, up 9.2% year over year and marking a new record for the country.