Category: Prediction Markets
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After Losing $190K On Kalshi, California Man Says His Life Felt Over
One California man shared his story the morning after losing $190,000 on Kalshi bets on the midterm elections. Jordan Wendt, a 33-year-old in Monterey, California, first posted about his experience on Reddit on Wednesday, then agreed to a video interview with GamblingHarm.org. GamblingHarm.org reviewed a screenshot of his Kalshi account, which showed the $190,000 loss.…
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Kalshi’s Symbolic ‘Monthly Deposit Limit’ For Under-21 Users
On Tuesday, Kalshi announced a $2,500 “monthly deposit limit” for some people under 21. It’s mostly a symbolic gesture to address gambling-related harm. In this article, I’ll argue why it’s a nothingburger. The stakes are high for addiction, as billions of dollars are wagered daily on Kalshi, mostly on sports. Why Kalshi’s Deposit Limit is…
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Polymarket Fortune Cookies Expose Overlooked Gambling Advertising
The online gambling boom has come for our cookies. But this isn’t just about brand awareness; it’s also about encouraging consumers to bet. Polymarket, a prediction market betting site in the U.S., reportedly appears in U.S. fortune cookies, according to recent social media posts on X and Reddit. The photographs show a QR code, but its…
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DraftKings Sponsors ‘Historic Free Parking’ At Texas State Fair
The State Fair of Texas is promoting DraftKings, a controversial U.S. sports betting brand, as part of an “historic savings opportunity.” The State Fair announced Thursday that the Boston-based DraftKings would cover parking costs for the event, saying it would be “saving you $25 before a big weekend as the Fair begins.” “We’re always looking…
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Senator Slams T-Wolves Star’s Prediction Market Gambling Deal
A leading Minnesota opponent of sports gambling and prediction markets denounced the partnership between the state’s NBA star and a prediction market operator. On Oct. 6, Atlanta-based PrizePicks, which also offers daily fantasy sports gambling, announced a deal to sponsor Minnesota Timberwolves star Anthony Edwards. Edwards is the latest active NBA player to become a…
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