Category: Prediction Markets
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Netflix Prediction Market Documentary Bets Bleak
A compact 36-minute Netflix documentary on prediction markets suggests a bleak future for these platforms. It’s difficult to disagree with the forecast. From fraud to addiction, Netflix squeezed an impressive range of material into such a short film. The Prediction Games, released on Sunday, July 26, featured a balanced mix of perspectives on these federally sanctioned…
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Facial Recognition Bill: A Trojan Horse For Online Casinos?
Under the guise of “protecting our children,” a bipartisan group of lawmakers has introduced legislation that, according to a legal expert, could expand online gambling nationwide. On the surface, H. R. 9706, the “Facial Recognition to Protect Children Act,” would require prediction markets and traditional online sportsbooks to use facial recognition technology to verify a…
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LeBron ‘Next Team’ Markets Possibly Corrupted By Miami ‘Mistake’
Gambling markets on LeBron James’ next NBA team have been impacted by a purported error by the Miami Heat, the current favorite to land James. There is no evidence of insider trading or market manipulation, but many fans on social media are running with such speculation. What happened? The Heat posted a link to a…
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Could Using Kalshi For Election Betting Make You A Felon?
Generally, a prediction market bettor doesn’t face legal exposure. However, depending on your state, using a prediction market like Kalshi to wager on an election and also voting in that same election could expose you to legal problems. The laws and enforcement mechanisms are convoluted, but here’s an example: If you’re a regular person (i.e.,…
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Opinion | Congress A Wet Noodle In Another Prediction Market Hearing
A House Agriculture Subcommittee held a hearing on prediction markets (e.g., Kalshi, Polymarket, etc.) Tuesday morning on Capitol Hill. The main takeaway was clear: these apps will keep financially harming many users through sports “contracts” unless the judicial branch of government stops them. In other words, Congress is a wet noodle, apparently impotent at this…
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