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Underdog is moving deeper into prediction markets after buying two federally regulated exchange entities, a step that will allow the sports gaming company to operate its own U.S. marketplace for event-based contracts. The New York-based firm said Monday (March 9) it acquired Aristotle Exchange DCM, Inc. and Aristotle Exchange DCO, Inc., both registered with the […]
In the 1983 film Trading Places, two wealthy brothers set out to rig the commodities market by getting their hands on a secret government crop report. Eddie Murphy’s character uses that stolen preview to trade ahead of everyone else and cash in big. Moviegoers were meant to see it as brazen and clearly illegal. Except […]
Flutter Entertainment is leaning harder into prediction markets, even as some investors question how much upside the move will really deliver. In its fourth quarter earnings letter to shareholders, the parent company of FanDuel made clear that it plans to step up spending on its new prediction markets product this year. The company said: “We […]
Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show in Las Vegas, Nevada, on Jan. 6, 2025. Patrick T. Fallon | Afp | Getty Images Nvidia CEO Jensen Huang said Wednesday markets have miscalculated the AI threat to software companies in an interview hours after the chip behemoth issued an upbeat […]
Ethereum co-founder Vitalik Buterin says he’s growing uneasy about the direction prediction markets are taking, warning that platforms were heading towards becoming ‘corposlop.’ “Recently I have been starting to worry about the state of prediction markets, in their current form,” Buterin wrote on X. He pointed out that the sector has matured in visible ways. […]
Mesh Cube | Istock | Getty Images The stock market has been quick to punish software firms and other perceived losers from the artificial intelligence boom in recent weeks, but credit markets are likely to be the next place where AI disruption risk shows up, according to UBS analyst Matthew Mish. Tens of billions of […]
A basketball finds nothing but net during practice before a 2024 NCAA Tournament game at PPG Paints Arena in Pittsburgh. Charles LeClaire | Reuters Prediction markets saw strong results from the Super Bowl, but it was just an appetizer for a banquet of sporting events in 2026 that are expected to drive surging volumes in […]
Connecticut Governor Ned Lamont is pushing to tighten oversight of prediction markets, rolling out a bill that would block anyone under 21 from using the platforms or seeing ads aimed at them. The proposal lands as state regulators are already cracking down on companies they say have crossed into unlicensed sports wagering, putting new attention […]
The recent snowstorm in New York City surprisingly led to Kalshi’s largest climate-related market, according to a report, but not everyone is happy with the outcome. It also comes just weeks after Polymarket declined to pay out on bets about whether the U.S. military would invade Venezuela, pointing to disputes over how the wording was […]
Thirty Congress members have supported a bill that would prevent federal officials and political employees from using prediction markets that could be influenced by insider information. After an anonymous Polymarket user cashed out with over $400,000 on a trade related to the operation to depose Venezuelan President Nicolás Maduro, concerns were raised that the bet […]
