Sports
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.
Prediction volume hits record off Super Bowl Sunday
Parlays boosted sportsbook margins; Kalshi faced outages amid 20-fold volume spike Americans wagered a record $1.76 billion on the Super Bowl, according to American Gaming Association projections, as a wave of first-time bettors and an explosion in parlay activity delivered a windfall for the sports-betting industry
How One Prediction-Market Trader Played the Super Bowl—and Lost $100,000
For Liam Kane and others like him, the NFL title game was an opportunity to bet against new and often inexperienced bettors When New England Patriots wide receiver Mack Hollins scored a touchdown with about 12 minutes left in the Super Bowl, the moment had the chance to be a
Some Kalshi transfers are delayed during the Super Bowl
* Kalshi said it experienced delays in fund transfers due to a Super Bowl traffic surge. * Kalshi's cofounder said on X that users' "money is safe and on the way." * Kalshi and Polymarket are benefiting from a sharp interest in prediction markets. Kalshi said that some
Gambling Stocks Sag as Prediction Markets Steal Super Bowl Bets
The Super Bowl is supposed to be the highlight of the calendar for gambling companies. This year, though, a cloud has descended over the industry as the big game approached. The stock of Flutter Entertainment Plc, which runs one of the most popular US gambling apps, FanDuel, is on an
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
Judge bans Kalshi from offering sports-events contracts in Massachusetts in 30 days
A Massachusetts judge on Friday rejected a request by prediction-markets operator Kalshi to allow it to keep offering sports-events contracts in the state while it appeals an injunction that will lead to it being banned from operating there without a state gaming license in 30 days.Suffolk County
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
Rules & Mandates - 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
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-
