When it comes to California betting news, there has been a lot of concern when it comes to growing sports wagers taking place. However, we're also seeing a ton of problems when it comes to people putting money down on politics as well. And with that, California's political betting issue isn't going anywhere and that's a problem. Later this year, a new Governor will be elected and that's what a lot of people are focused on.

Gavin Newsom has done a standup job in California, but he's out of terms. Because of that, it's time for someone to step into office and take the lead here. As things stand, Xavier Becerra has become the new favorite to win the Governor race, as his support continues to grow each day. In a new report from The New York Post, it was shared that he has the best odds to win this battle too and that plenty of bets keep coming in for him to win this fall.

"Becerra was listed with a 79.3% chance of winning the governor’s race by early Wednesday afternoon, up 29% from Tuesday, according to Polymarket," The New York Post wrote in its most-recent article about things. "Billionaire Democrat Tom Steyer was a distant second at 13.1%, while Republican Steve Hilton — who led in the first wave of returns Tuesday night — had fallen to just 5.8%.

It's quite head-turning that Becerra has been given a 79.3 percent chance to win. The issue here is that with people seeing those odds and the percentage, it's only going to motivate more and more bettors to put money down on him to win. This is a problem that has been brought up several times with the Prediction markets betting, but nothing has changed with the rules. We have no idea when adjustments will be made.

More than $30 million has been bet on the California Governor race

What makes things even more frustrating for local officials is that more than $30 million has been bet on the California Governor race, which obviously is not great for the state for several reasons. To start, and as we mentioned above, with so much money being bet on one candidate, it's only going to make people think that they should put money on him as well. It can have an impact on swinging things.

On the other hand, for the money that has been wagered inside of state lines, it's important to remember that California isn't seeing a single dime in terms of tax revenue. This has been a major push for the legalization efforts, as California would be able to generate a ton of money in that department alone. As things stand, though, all the money being wagered through prediction markets - none of it comes back to California.

This is something that even local citizens are not happy about, as the money brought in through sports betting could be used to improve plenty of projects in California. With so much time until the vote takes place too, it's safe to assume that a lot more money is going to be wagered on Becerra in the near future. It will be interesting to see how things go down here, but all of this betting on the race is opening eyes, but not in a good way.

The prediction markets issue isn't going anywhere either for California

As you're probably aware of, the prediction markets issue isn't going anywhere either for California, as political betting and sports betting continues to be at the forefront. With sports betting, people are checking the World Cup betting odds consistently, as the tournament is about to get started. People are racing to place bets on who they think is going to win it all.

Meanwhile on the hardwood, the NBA betting is reaching another level with the NBA Finals here. In Game 1, the New York Knicks were able to take down the San Antonio Spurs in a thriller. While neither of those teams are based out of California, it's clear that NBA attention is quite high right now, with wagers following suit.

Lastly, MLB betting is always going to be through the roof here, as the Los Angeles Dodgers are the clear favorites to win it all. The Dodgers have won back to back titles and now they're ready to bring home a three-peat. That's of course not going to be easy, but again, local fans in California are putting on countless bets on the Dodgers and things are not going to slow down there.