Economics & Finance
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
Kalshi expands surveillance, enforcement efforts ahead of Super Bowl 60
Kalshi on Thursday announced efforts to expand its surveillance and enforcement frameworks as skepticism builds around the booming prediction market industry. The announcement comes days before Super Bowl 60, which has already drawn more than $160 million in prediction market trading volume, according to Kalshi. The platform and its peers
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
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-
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
Kalshi Fed Forecasts Are as Good as Wall Street’s, Study Says
Kalshi, the booming platform that churns out predictions on everything from the Super Bowl to US elections, is showing early promise as an accurate forecaster of Federal Reserve policy and economic data, a new study finds. When it comes to predicting interest-rate decisions, Kalshi is “roughly consistent” with professionals
Crypto Traders Flee to Prediction Bets After Crash
Not long ago, Nikshep Saravanan was deep in the crypto trenches — trading memecoins, reaching out to venture capitalists, and trying to launch a startup for digital creators. By January, he’d dropped it all. These days, he spends hours on prediction markets, tracking odds on everything from sports to politics.
Coinbase Acquires The Clearing Company in Prediction Market Push
Coinbase Global Inc. announced Monday that it will acquire a derivatives clearinghouse, The Clearing Company, to boost its entry into the growing prediction markets business. The crypto trading platform said the acquisition would help it expand on its ambitions to become “the Everything Exchange.” It comes just days after Coinbase
Matchbook to Launch UK Prediction Markets Ahead of US Entry
Matchbook, a sports betting exchange, is launching a prediction market platform in the UK as it prepares to compete with rivals Kalshi and Polymarket in the US. The British debut in January will be a “road test” of its technology before Matchbook — registered in Guernsey — obtains US regulatory approval, which
Robinhood, Susquehanna Escalate Prediction-Market Arms Race
Robinhood Markets Inc. and Susquehanna International Group are taking over a regulated exchange that was tied to the now-defunct crypto business FTX, giving them a powerful new foothold in the fast-growing world of prediction markets. The two firms are buying a majority stake in LedgerX, a US-based
