Discussion

• NewsMax.com Charlie McCarthy on x

  Bipartisan Bill Targets Sports Betting on Prediction Markets

• @rothmus @rothmus on x

  This Adam Schiff post is brought to you by Indian casinos. (Seriously though, $450,000 in campaign donations) [image]

• @mansourtarek_ Tarek Mansour on x

  Casino lobby hard at work. There is a reason tens of millions of people use regulated prediction markets: it's a better product. Banning just pushes this offshore, where no regulation exists. This bill isn't about protecting consumers; it's about protecting monopolies.

• @davidaxelrod David Axelrod on x

  This is a real thing. The betting markets allow those with inside knowledge to profit from it. It's an invitation to corruption. Meanwhile, Trump Jr. has a relationship with BOTH of the leading prediction sites. What could possibly grow wrong?

• @johndoyle John Doyle on x

  Guy who takes hundreds of thousands of dollars from Indian casinos has a problem with gambling lol [image]

• @evan_ss6 @evan_ss6 on x

  @thiccyth0t there's rly no good reason to promote better price discovery on sports; it's all about moving it out of black/gray markets into regulated/taxed ones that are much more easily surveilled

• @thiccyth0t @thiccyth0t on x

  why should anyone care to advance sportsbetting and other forms of vice technology designed to recycle ubi dollars from western democracies? prediction markets are a cool concept but can someone remind me why anyone cares if odds on sports games get better price discovery?

• @claytravis Clay Travis on x

  The most fascinating legal battle in sports media right now is whether it's legal for prediction markets to do sports. State legal cases are everywhere. Now a senate bill has been introduced to try and ban prediction markets from sports: https://www.wsj.com/...

• @adamscochran Adam Cochran on x

  Interesting how none of them want to ban sports betting in betting apps that can front run customers and set their own odds though. But the gambling lobby that donates millions to Congress shows up, and now Congress cares about the more strictly regulated CFTC approved industry?

• @spacexbt @spacexbt on x

  banning sports on polymarket is like 9/11 for them out of $350mil total volume, sports represents $225mil that's 66% or 2/3 of their entire volume would've been a great short if $poly was live [image]

• @aosipovich Alexander Osipovich on x

  There's now a bipartisan effort in the Senate to boot prediction markets like Kalshi out of sports betting. Republican John Curtis, from anti-gambling Utah, is co-sponsoring the bill with Trump foe Adam Schiff (D, CA). Scoop from my WSJ colleague @kryshur https://www.wsj.com/...

• @dustingouker Dustin Gouker on x

  Senator from Utah, famously motivated by casino interests

• @senadamschiff Adam Schiff on x

  Prediction markets are offering sports bets — just with a different name. They are being offered in states where sports betting is illegal, like California, while federal regulators are greenlighting them rather than enforcing the law. My bipartisan legislation with [image]

• @coffeebreak_yt Coffeezilla on x

  “Casino lobby hard at work” says guy part of a prediction market lobby group. [image]

• @gerberkawasaki Ross Gerber on x

  The end of kalshi's illegal sports betting operation is near. The rush to separate young people from their money will be stopped. https://www.wsj.com/...

• @alpha_pls @alpha_pls on x

  This would be devastating for Kalshi, and quite bad for Polymarket. Majority of Kalshi's volume comes from sports betting. Polymarket is a bit more diversified, but will still be a good chunk for them as well. Might even convince some of the airdrop farmers to stop too.

• @nickdevor_ Nick Devor on x

  Kalshi spox @ediyork statement: “Banning sports on regulated prediction markets would just push this behavior offshore, where no regulation exists. “It's clear this bill is motivated by casino interests that are threatened by competition. They're more worried about protecting

• @ediyork Elisabeth Diana on x

  markets > monopolies

• @senjohncurtis Senator John Curtis on x

  Young people in Utah are getting exposed to addictive sports betting and casino-style gaming contracts that belong under state control, not federal regulators. Our bipartisan bill ensures that states can maintain their authority over these markets. https://www.wsj.com/...

• @mdudas Mike Dudas on x

  “DraftKings stock rose 7.2% in premarket trading early Monday morning. Shares of Flutter Entertainment, the parent company of FanDuel, gained 9.4%.” https://www.wsj.com/...

• @agustinlebron3 Agustin Lebron on x

  There's a reason tens of millions of people use “regulated” sports betting sites masquerading as prediction markets: it's been relentlessly pushed down the throats of sports watchers in the US for the last couple of years in order to find and extract max $ from problem gamblers.

• @stacy_muur Stacy Muur on x

  Funny how lawmakers are concerned about prediction markets where traders actually set the odds, rather than centralized companies that extract bettors through house edge. DraftKings, for one, spent $945K on lobbying last year. Guess where that money went. [image]

• @benhorney Ben Horney on x

  Big news (although long way to go before this becomes law) Kalshi responded, saying this is “motivated by casino interests that are threatened by competition.” “Banning sports on regulated prediction markets would just push this behavior offshore, where no regulation exists.”

• @sportsrapport Ryan Glasspiegel on x

  We are in about the third inning of where prediction market legality lands https://www.wsj.com/...

• @nickdevor_ Nick Devor on x

  Where's the prediction market on whether this bill gets signed into law?

• @rahmemanuel Rahm Emanuel on x

  President Trump, his cabinet, members of Congress, and all federal officials cannot bet on prediction markets tied to U.S. policy or military action. This can be done by an executive order, but we know that won't happen, as Donald Trump has normalized corruption in the White [vid…

• @stevekovach Steve Kovach on bluesky

  That would eliminate most of Kalshi's business.  (not sure about Polymarket) [embedded post]

• @knibbs Kate Knibbs on bluesky

  yet another prediction markets bill!  www.wsj.com/finance/regu...

• r/politics r on reddit

  Lawmakers to Introduce Bipartisan Bill Banning Sports Bets on Prediction Markets

• @mikeisaac Rat King on x

  am guessing prediction markets become a bipartisan popular takedown issue based on how quickly both sides have realized that young people are obsessed with this stuff

• @aoc Alexandria Ocasio-Cortez on x

  This is absolutely not enough. Just on the policy piece alone, there are SO many individuals - staff, advisors, consultants, cabinet secretaries, spouses, and more - that can trade on insider information. This is just a fig leaf to deflect from criticism. We need to do more.

• @quinnypig Corey Quinn on x

  Good thing those people don't have spouses, friends, etc. who they can tip off / collude with.

• @adamscochran Adam Cochran on x

  Now I wanna see the NASDAQ block Congress from trading stocks related to committees they're on!

• @nostroah Noah Zingler-Sternig on x

  Pre-blocking is an incredible evolution of the already very capable surveillance technology at Kalshi.

• @zhoujaron Jaron Zhou on x

  These proactive anti-insider trading restrictions go beyond even what stock exchanges offer btw

• @mansourtarek_ Tarek Mansour on x

  No screening system is perfect and bad actors will always try to cheat. So, we added a whistleblower functionality in our market page to make it easier for traders to flag potential violations. [image]

• @mansourtarek_ Tarek Mansour on x

  Two new guardrails: 1. Screen and block politicians from trading on their own campaigns. 2. Screen and block athletes from trading on their own leagues. We already banned, monitored, and enforced against it. Now our systems also look to block it pre-trade.

• @mikeisaac Rat King on x

  fascinating that Kalshi, a prediction market, is ahead of congress on blocking trading on insider info (an issue that has zero bi-partisan congressional support to tackle despite multiple bills proposed over the past few years)

• @zhoujaron Jaron Zhou on x

  We just announced new industry-leading efforts to preemptively block politicians and sports personnel from trading on relevant markets. Huge step in stopping insider trading before it even happens.

• @benhorney Ben Horney on x

  Kalshi announces what was reported not an hour ago- new guardrails against insider trading that include prohibiting athletes and politicians from trading on certain markets. This does not appear to be a comprehensive ban on athletes and politicians—only for certain markets.

• @robertjdenault @robertjdenault on x

  Today, we're announcing an expansion of our efforts to prevent insider trading on Kalshi - new guardrails and policies to preemptively block politicians and athletes from trading in certain politics and sports markets. These efforts, which have been in the works for months,

• @michaelsderby Michael Derby on bluesky

  Axios reports one of the big “prediction” gambling sites is banning politicians and sports pros from using the platform, I wonder why they need to do that?

• r/technology r on reddit

  Exclusive: Kalshi to block athletes and politicians from trading on their markets

• @polymarket @polymarket on x

  Today we're publishing new market integrity rules across our CFTC-regulated US exchange & DeFi platform — making clear what's prohibited, how we enforce rules, & how to report suspicious activity. The World's Largest Prediction Market runs on transparency https://www.businesswire…

• @herecomeskumar Neal Kumar on x

  Very proud of the team—these new integrity rules and pages simply articulate what we've always believed and enforced. Now it's all in plain view

• @cailen @cailen on x

  99.9% sure there will be little to no effort to investigate or enforce this. You might call it a “check off the box"policy

• @bobbyallyn Bobby Allyn on x

  this gives the impression of a new shoring up of integrity protections, but this type of betting on prediction markets is already illegal. and even with laws, platform policies, KYC rules, it doesn't take much to figure out how to trade on sports and political inside info