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The White House warned staffers not to use insider information to place bets on prediction markets as critics grow suspicious of lucrative trading activity around the Iran war. A White House official confirmed to The Post that the warning was sent to all staffers in an email from the White House Management Office on March […]
Dwayne Schnell | 500px Plus | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The Iran war has propelled oil prices to above $94 a barrel, up about 30% […]
California Gov. Gavin Newsom on Friday banned state-appointed officials with insider information from making bets on prediction markets as the popular gambling sites stoke controversy. The executive order added to existing ethics rules that prohibit state officials from using information unknown to the public to enrich themselves or family members, as recent huge payouts on […]
Maryland lawmakers are pushing forward a trio of gambling bills aimed at tightening rules and going after illegal operators. House Bill 518 passed the House without opposition on March 18 and is now under review in the Senate Budget and Taxation Committee, along with two related proposals focused on unregulated online markets and sweepstakes-style gaming. […]
U.S. lawmakers on Tuesday (March 17) rolled out new legislation aimed at shutting down certain prediction markets that allow people to wager on geopolitical developments, government decisions, and other real-world events. Sen. Chris Murphy and Rep. Greg Casar introduced what they call the Banning Event Trading on Sensitive Operations and Federal Functions Act, or the […]
Saudi Crown Prince Mohammed bin Salman Al Saud made light of his involvement in prediction markets during a presidential event as Polymarket makes it way back to the US. The royal from Saudi Arabia was visiting the United States for the first time in seven years to discuss political and economic matters with President Donald […]
The Ontario iGaming market has seen an 8% month-on-month increase in cash wagers in August, ahead of sports betting season in the fall. According to data from iGaming Ontario in its monthly reports, the region’s iGaming market picked up speed in August ahead of the sports betting season getting underway throughout September and October. $8.14 […]
A soccer coach from Conestoga High School, David Zimmerman, has been suspended after it was found that he was making prop bets on basketball students. The nationally recognized coach didn’t have students using apps like FanDuel or DraftKings, but a tiny operation that apparently exchanged as little as $10. What appears to be a small […]
Yieldstreet customer Justin Klish, who said he faces $400,000 in losses from investing on the platform. Courtesy: Justin Klish When Justin Klish stumbled upon an ad for Yieldstreet in February 2022, he said, it was the company’s tagline that stuck in his head. “Invest like the 1%,” the startup said. The ad spoke to his […]
Mike DeWine, the governor of Ohio, has urged the Casino Control Commission to prohibit prop bets, removing them from the legal list of bets that can be placed under the state’s contractual rules for operators. The Governor’s request follows the scandal involving Guardian pitchers, Luis Ortiz and Emmanuel Clase, who have been sent on paid […]
