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Category: Prediction Markets
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Arizona Hits Kalshi With Criminal Charges Over ‘Illegal Gambling’
Arizona Attorney General Kris Mayes has filed criminal charges against Kalshi, accusing the company of operating an illegal gambling business in the state without a license and taking prohibited bets on elections. The 20-count criminal information names KalshiEx LLC and Kalshi Trading LLC, the companies behind the prediction markets platform. Arizona alleges that Kalshi accepted…
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Prediction Markets Are The New Online Poker—Not Sports Betting
The ongoing prediction market boom is more like online poker in the mid-2000s than the sports betting gold rush following the famous 2018 Supreme Court ruling. The reason has to do with the strategic, peer-to-peer component. Like poker, most users lose over time on a prediction market platform that charges fees. However, for a minority…
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Gambling Site Turns Iran War Into Slots Game
As the prediction markets Kalshi and Polymarket face backlash over their Iran war-related gambling markets and allegations of insider trading on military information, at least one other platform is gamifying the horrific conflict in a different way. Jackpot.bet, an offshore gambling platform claiming registration in the Caribbean country of Saint Vincent and the Grenadines, turned…
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Trump’s Prediction Market In ‘Beta Testing’
Truth Social, Donald Trump’s social media platform, was beta testing a prediction market product as of March 2026. “There is significant uncertainty regarding user adoption, engagement, and platform integration through distribution partners … as well as the scalability of our business model,” the company said in an SEC filing, casting some doubt on whether the…
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Kentucky Derby Owner Warns Prediction Markets Over Illegal Bets
The Kentucky Derby owner has warned prediction markets not to take bets on May’s race. In an earnings call on Thursday, Churchill Downs CEO Bill Carstanjen said that his company has not given any prediction market permission to facilitate gambling on the Kentucky Derby. In 2025, Polymarket, a leading prediction market, had around $1.2 million…
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