The article explores the author's firsthand experience with online sports betting, revealing the thrill and stress of placing wagers while navigating personal and moral dilemmas. It discusses the rapid growth of the sports-betting industry in America and the historical context of gambling's societal perception.

Kalshi is suing New York State after receiving a cease-and-desist letter regarding its event contracts related to sports outcomes. The article discusses the legal complexities of defining these contracts under the Commodity Exchange Act and whether they qualify as "excluded commodities."

The article discusses the rise of prediction markets in the U.S., exemplified by Polymarket, and how major media outlets are incorporating these gambling odds into their reporting. It highlights the potential erosion of trust in journalism as these markets blur the line between information and speculation. Concerns about insider betting and the integrity of public discourse are also raised.

This article examines the rise of prediction markets like Polymarket and Kalshi, where users bet on various events, including political outcomes and celebrity news. As their popularity grows, concerns about gambling implications, market manipulation, and insider trading have emerged alongside significant investments and media partnerships.

New York Attorney General Letitia James cautions consumers against using unregulated prediction markets ahead of Super Bowl 60. She highlights the lack of consumer protections on these platforms, while companies like Kalshi assert they are regulated by the CFTC. Concerns include insider trading and the overall integrity of these betting markets.

The author reflects on their eight years in crypto, initially drawn by ideals of decentralization and financial freedom. Over time, they became disenchanted with the reality of the industry, which they see as focused on speculation and gambling rather than creating a better financial system.

In 2025, fintech venture funding rose 25% to $55.94 billion, with prediction markets like Polymarket and Kalshi leading the charge. They secured $3.71 billion in funding, making them the largest US rounds of the year and among the top globally, driven by growing interest in online betting.

Kalshi, a prediction market platform, has raised $1 billion at an $11 billion valuation, following a previous $300 million round. The company competes with Polymarket and allows users to bet on various future events, while navigating legal challenges related to gambling regulations.

Researchers believe a massive fraudulent gambling network, active for 14 years, is likely backed by a nation-state. It targets government and private organizations in the US and Europe, exploiting vulnerabilities in websites to support its operations. The infrastructure includes over 328,000 domains and costs millions to maintain.

Kalshi, a leading prediction market platform, accused a stock analyst of conducting an extortion plot after the analyst reported that users were losing money at a faster rate than on traditional gambling sites. Following the backlash, Kalshi retracted its statement, highlighting the tension in the growing prediction market industry.

Coinbase is suing regulators in Michigan, Illinois, and Connecticut over their attempts to classify prediction markets as unlicensed gambling. The exchange argues these markets are financial derivatives under federal oversight, which could pave the way for broader access if they win. The lawsuits come amid a shift towards federal regulation, following the appointment of a pro-innovation CFTC chairman.

Portugal's gambling regulator has ordered Polymarket to cease operations, declaring the platform illegal due to a surge in election-related betting. Over €4 million was wagered on presidential markets before results were announced, raising concerns about potential misuse of non-public information. The platform has 48 hours to comply, or regulators will implement network-level blocking.

Polymarket has sued Massachusetts, claiming that the U.S. Commodity Futures Trading Commission (CFTC) has exclusive authority over prediction markets, not state regulators. This lawsuit highlights growing tensions as states attempt to classify sports-related prediction contracts as gambling, which would require local licensing. Recent rulings in Massachusetts and other states have further complicated the legal landscape for prediction market operators.

The UK Gambling Commission's Tim Miller accused Meta of failing to proactively identify and remove ads for illegal gambling sites. He argued that Meta's claims of needing user reports to address these ads are false, highlighting the company's searchable ad library as evidence of its complicity in the issue. Miller urged for collaboration among regulators and industry players to combat illegal gambling effectively.

Thai police conducted a raid at the Antai Holiday Hotel in Pattaya, uncovering a criminal gang involved in ransomware and illegal gambling. The operation led to the arrest of at least 20 foreign nationals, including six Chinese men who were distributing ransomware links, highlighting the intersection of cybercrime with traditional organized crime.

Prediction markets are gaining traction as a new frontier in finance, offering a platform for users to place bets on the likelihood of various events, from sports outcomes to political elections. As these markets blur the lines between gambling and investing, they provide valuable information and insights that can influence decision-making in both consumer and professional spheres. However, this rise raises concerns about potential gambling addiction and the implications of democratizing speculation.

New research reveals that the legalization of online sports betting in the U.S. has led to significant financial strain on households, particularly those already facing financial constraints. As bettors increasingly divert funds from long-term savings into gambling, net investments decline and financial instability rises, raising concerns about the implications of impulsive betting behaviors.

Dean Hall, the creator of DayZ, criticizes Valve for its gambling mechanics in games like Counter-Strike 2, arguing they deserve more scrutiny. He challenges developers to provide data for study and shares his struggles with monetization models in his own games, advocating for alternative approaches to funding like the one planned for his upcoming title, Kitten Space Agency.

The article discusses the detrimental effects of gambling on society, arguing that it fosters a demotivated workforce by promoting the belief that success comes from luck rather than effort. It critiques concepts like Universal Basic Income (UBI) and warns of a future where value creation declines as more people engage in zero-sum activities like gambling. The author expresses concerns about the deteriorating US economy and the cultural implications for the future.

The article discusses the alleged involvement of former NBA players Chauncey Billups and Damon Jones in a gambling scandal linked to organized crime, specifically the New York Mafia. Prosecutors claim they participated in rigged poker games and an illegal sports betting scheme, which has raised concerns within the NBA about the influence of crime on athletes.