The man who invented the science of sports betting built an early betting algorithm and took it to Las Vegas. Millions in profits, mob ties and federal scrutiny followed.Read the Big Take here: https://t.co/EOu5VKOeFN🎨: Carolina Moscoso for Bloomberg Businessweek https://t.co/9aSEViygjH ...

The straight of Hormuz obviously is their trump card to play, but if they had an American pilot in their captivity, that would be a major major bit of leverage for them. Hey everybody, welcome to Here's the Scoop from NBC News. I'm Yasmugian.On the show today, college basketball fans are going to be watching their prop bets and their brackets for the weekend's NCAA's Final Four. But what toll is the rise of gambling taking on student athletes. We're going to get into that.Up first though, we are starting wi ...

⚖️LAWSUITS: TRUMP ADMINISTRATION DOJ & CFTC SUE SEVERAL STATES IN FAVOR OF PREDICTION MARKETSThe DOJ and CFTC has sued Illinois, Arizona, and Connecticut to defend prediction markets from state regulation, arguing they fall only under federal regulation, not stateIn the last year, a growing number of states have sued such platforms, arguing sports-themed prediction markets are not event contracts under the CFTC’s purview but unregulated sports betting by another name. ...

Bring in show music, please. >> Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, oil prices soar as the president's speech on Iran stokes fears.>> If the market is looking for a quick answer, they didn't get it last night from that speech. >> Gold down and silver down and Bitcoin down. >> Yeah.>> Is there further escalation to come. Eurasia groups Farad Moxad. This war will go on for at least another 2 to 3 weeks, perhaps a bit longer to achieve its mission.I'm watching the military deployments much ...

Core Viewpoint - A bipartisan group of senators is introducing legislation to clarify that prediction markets are not equivalent to casinos and to officially ban sports betting, emphasizing the need for state-level regulation of gambling activities [1][2][3] Group 1: Legislation and Regulation - The proposed legislation aims to ensure that gambling activities, including prediction markets, are regulated at the state level, rather than being treated as unregulated activities by the Commodity Futures Trading Commission (CFTC) [1][2][3] - Senators Schiff and Curtis express concerns about the CFTC's current stance on prediction markets, arguing that they are indistinguishable from sports betting and should not be allowed to operate without state oversight [5][6][17] Group 2: State Control and Revenue - Senator Curtis highlights the importance of maintaining state control over gambling, particularly in states like Utah where gambling is not permitted [2][3] - There is a concern that revenue generated from legalized sports betting does not return to the states, which could undermine state interests [7][8] Group 3: Insider Trading and Regulation - The senators raise alarms about the potential for insider trading in unregulated prediction markets, citing examples of individuals with high accuracy in predicting events, which could indicate manipulation [9][10] - They argue that without proper regulation, there is a risk of unethical practices, such as athletes or government officials betting on events they have insider knowledge about [10][13] Group 4: Bipartisan Support and Future Legislation - Both senators express optimism about bipartisan support for the legislation, indicating that there is momentum on both sides of the aisle to address the regulation of prediction markets [16][17] - They believe that further legislation will emerge to ensure that gambling activities are properly regulated and that the interests of states are protected [16][17]

🚨U.S. lawmakers have introduced a bipartisan bill to ban sports betting on prediction markets, per the WSJFor context of how big this is, Kalshi's weekly sports volume makes up 70-85% of its total handle and Polymarket's sports volume is 35-40% of its total https://t.co/JWdFnX96rR ...

🚨BREAKING: U.S. LAWMAKERS MOVE TO BAN SPORTS BETTING ON PREDICTION MARKETSSenator Adam Schiff is pushing legislation to ban sports betting contracts on prediction markets, calling them "addictive" for young people and arguing they belong under state gambling law, not CFTC commodity rules.The CFTC is pushing back hard, claiming exclusive federal jurisdiction and filing court briefs to defend its turf.This month alone, 4 states issued cease-and-desist letters, while Arizona and Massachusetts escalated to crim ...

It is arguably the biggest three weeks in Americacan sports. The NCAA tournament tips off this Thursday and while millions of fans will be filling out office pools. Millions more will be placing bets on phones, laptops and tablets all across America.It is estimated that $3 .3 billion will be waged on tournament games across American sports books. Once a fringe cultural sports betting has now grown into an all-consuming part of American athletics. It has also led to a rise in gambling addiction, online haras ...

“Among my college peers, using apps to bet on sporting events has become a dangerous rite of passage,” writes Eli Thompson. “March Madness will only add fuel to the fire.” https://t.co/Fdx2aa0yqF ...

Where Is Sports Betting Legal? A Guide To All 50 States https://t.co/7LY1MRlOJk ...