As prediction markets have exploded in popularity over the past two years, they have also become increasingly controversial – setting off a lobbying-fueled power struggle for regulation of the platforms. Amid allegations of insider trading, bets on military operations, and deceptive marketing practices, some states are seeking to sue or ban prediction markets. But the federal government has…
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CBS has become the latest news outlet to announce that it is using data from Kalshi — the outlet’s “prediction market sponsor” — in coverage of the midterm elections alongside polling data. CBS’s Director of Elections and Surveys Anthony Salvanto touted the change in several segments this week. In the segments, Salvanto presents the news outlet’s polling data on which party is likely to take…
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Americans spent nearly $170 billion on sports bets in 2025, representing more than double the amount Americans spent on movies, books, music, and museums combined last year, a new analysis finds as the betting industry turns to increasingly predatory tactics. According to an analysis by Fortune, Americans placed $166 billion in sports bets last year, while spending a total of $70 billion…
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On Tuesday, President Donald Trump announced his support for prediction market companies, calling for continued federal control while lambasting state regulators. “It is critically important” that the federal Commodity Futures Trading Commission (CFTC) maintain “exclusive authority over Prediction Markets” in order for them to “thrive,” Trump wrote on Truth Social.
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Polymarket archived a market on whether a nuclear bomb would be detonated by the end of this year, just days after the betting company faced criticism for allowing users to gamble on the commencement of the U.S. and Israel’s war with Iran. Journalist David Sirota posted about the existence of the market on social media on Tuesday evening. The market allowed users to bet on whether a nuclear…
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Betting company Polymarket and online writing platform Substack announced a partnership this week to further entrench gambling in the world of journalism and, in Polymarket’s words, make journalism “better” with “live markets.” Substack will now allow writers to embed prediction market data in their articles, with “native tools that make it easier to share, discuss…
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