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Tag: polymarket
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Online Casino Prediction Markets: Are They Coming?
Nationwide online slots, roulette, and blackjack certified federally with minimal safeguards? It sounds like a bad dystopian TV episode. Mike Selig, CFTC chair, on Bloomberg’s Odd Lots was asked if prediction markets could power online casino games. He pushed back, but conceded it could happen. “It’s possible that you could construct some sort of contract,…
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Gambling Site Polymarket Takes Guthrie Kidnapping Bets
The gambling website Polymarket has enabled betting related to the disappearance of NBC host Savannah Guthrie’s mom, Nancy. After the FBI released surveillance footage of the suspect wearing a mask and gloves, Polymarket hosted a market in its “politics” section on whether the suspect would be caught by the end of February. This market is…
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My Doomscrolling Addiction Is Why I Avoid Prediction Markets
For more than a decade, I’ve had periods of addiction to consuming negative news content on social media—typically through Twitter. This is commonly called doomscrolling. I’ve had trouble sleeping; I’ve deactivated and reactivated my Twitter (now X) account countless times; I’ve heard phantom notifications. I justified my doomscrolling by my career as a journalist, telling…
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Democratic Congressman Pens Word Salad Claiming Sports Betting Isn’t Gambling
Gobbledygook in support of online sports betting crosses party lines. U.S. Congressman Don Davis, a Democrat from North Carolina, penned written testimony backing so-called “prediction markets” — a form of stock-market-style sports betting. He said the product isn’t gambling, which is a disastrous misrepresentation that could harm his constituents through addiction and financial losses. Rep.…
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Polymarket CEO: DraftKings, FanDuel ‘A Scam’ And ‘Profile’ Their Users
Polymarket CEO Shayne Coplan shared his cynical — albeit partially accurate — thoughts on legal online sports gambling in the United States. Coplan’s Polymarket is an online “prediction” platform that facilitates yes-or-no-style gambling on sports, politics, current events, and more. So-called prediction markets claim federal oversight under the CFTC, which they argue lets them avoid…
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