Israelis Charged With Using Classified Intel for Polymarket Bets
Israeli authorities have filed charges against two suspects accused of using classified information to place bets on prediction platform Polymarket.
Super Bowl Gives Prediction Bets Record $1.2 Billion Trading Day
Analysts have grown increasingly bearish on gambling companies in recent months as prediction markets have presented a formidable competitive threat much more quickly than many anticipated.
Cboe to Launch Binary Event Wagers in Prediction Markets Push
Exchange operator Cboe Global Markets Inc. plans to roll out options contracts that will enable binary bets on event outcomes, in a bid to enter the fast-growing prediction markets. In a departure from the approach taken by rivals, Cboe’s contracts will be regulated by the Securities and Exchange Commission,
Sports App Sleeper to Partner With Kalshi on Prediction Markets
A fantasy sports app that once sued the US derivatives regulator will partner with Kalshi Inc. to offer wagers on its platform, the latest entrant into the surging prediction markets industry. Sleeper Markets, which says it has more than 10 million users, will work with Kalshi to provide sports contracts
Kalshi Downloads Zoom Past Gambling Apps Ahead of Super Bowl
Just months ago, Kalshi Inc. lagged far behind FanDuel and DraftKings — the dominant players in US sports betting. Now, ahead of the Super Bowl, the crown jewel of the gambling calendar, the upstart prediction market has pulled far ahead, at least by one key metric: monthly app downloads. In January,
Wall Street’s Top Cop Expects Enforcement on Prediction Markets
Wall Street’s top cop expects regulators to take actions tied to prediction markets following a surge in trading on the platforms over the past year, saying that simply making bets outside of traditional spaces “doesn’t insulate you from fraud.” Manhattan US Attorney Jay Clayton made the comments Thursday
Kalshi and Polymarket Rewrite the Super Bowl Playbook for Pro Gamblers
The sudden rise of prediction markets has sophisticated bettors scrambling to adjust their strategies. During his more than 15 years as a professional sports gambler, Rufus Peabody has built up an elaborate system of software tools and surrogate bettors that allow him to spot favorable odds offered by bookmakers of
CFTC Withdraws Proposal Banning Prediction Market Sports Betting
The head of the Commodity Futures Trading Commission said the agency has withdrawn a Biden-era proposal that called for prohibiting sports and politics-related wagers on prediction markets. “The 2024 event contracts proposal reflected the prior administration’s frolic into merit regulation with an outright prohibition on political contracts ahead of
Prediction Traders Are Betting Bitcoin Will Fall Below $65,000
Bitcoin values have fallen to their lowest level since President Donald Trump took office. If prediction markets are to be believed, the world’s most popular cryptocurrency may have a lot further to fall. Bitcoin has lost 40% since it hit an all-time high of over $126,000 in October,
Kalshi Claims ‘Extortion,’ Then Recants in Feud Over User Losses
It began innocuously enough. A stock analyst pulled data on betting results to argue that users of booming prediction markets were losing money faster than on traditional gambling apps. Then it spiraled. Kalshi Inc., the biggest US prediction market, told Bloomberg the analysis wasn’t just wrong. It was part
Crypto.com Launches Predictions-Only Platform Before Super Bowl
Crypto.com is launching a dedicated platform, OG, for prediction markets just days before the Super Bowl, the company said Tuesday. A pioneer of federally-regulated sports-themed prediction markets, Crypto.com co-founder and and Chief Executive Officer Kris Marszalek said a stand-alone product is warranted after 40-fold growth week-over-week in its
Wall Street Pros See Potential, Obstacles in Prediction Markets
Wall Street professionals have a broadly positive perception of prediction markets, but the nascent sector’s lack of liquidity is a key stumbling block to reaching the mainstream. Around 43% of market structure experts view prediction markets as an innovative value-add to the overall marketplace, according to a flash survey
