CNBC: Kalshi suspends, fines 3 congressional candidates in ‘insider trading’ enforcement actions. “Prediction market platform Kalshi said it suspended and fined three candidates for Congress from Minnesota, Texas and Virginia for ‘political insider trading’ activity on their own campaigns.”

Kalshi, a prediction site, has suspended three U.S. politicians for "political insider trading" tied to bets on their own races. CNN has the details:

https://flip.it/Rpp-tY

#Kalshi #Betting #OnlineBetting #Politics #Technology

NiemanLab: Prediction markets are breaking the news and becoming their own beat. “Keeping up with prediction markets is practically a full-time job, and for a few journalists they’ve become an opportunity to stake out a new beat at the intersection of politics, culture, finance, technology, sports, and even possibly true crime.”

Associated Press: Wanna bet? Washington steps up scrutiny of prediction markets. “In a highly polarized Congress, the need to guard against the prediction markets being used for insider trading has become rare common ground. Members of both parties pressed the leader of a typically low-profile regulatory agency on the issue during a hearing on Thursday.”

RE: https://flipboard.com/@ctvnews/top-stories-19khdp21z/-/a-dcweBSyWSECxSl5WFLL8Yw%3Aa%3A2823982346-%2F0

Betting is bad. Deregulating it to allow for betting on outcomes of war, etc. it is only making it worse. #onlinegambling #gambling #onlinebetting #betting #cdnpoli #cdnecon #vices

The Verge: Google says Polymarket bets showing up in News was an ‘error’. “Polymarket bets started popping up in Google News alongside legitimate news articles. But now those results aren’t showing, and Google says they were never supposed to.” 😐

"A Harvard researcher who studies gambling regulation said it takes five to seven years after legalization for a country to become “painfully aware of all the misery that increased access wreaks on public health, public finances, and so on.”

We’re at year seven, so, I suppose we’re right on time."

- from Hanna Horvath

https://yourbrainonmoney.substack.com/p/gambling-is-ruining-your-life-even

#OnlineBetting #Gambling #SportsBetting #SCOTUS #Capitalism

Futurism: Google News Now Prominently Featuring Polymarket Bets. “Google News has started showing Polymarket bets alongside actual news articles, often appearing as large blocks that contain links to numerous gambling opportunities on the service.” UGH.

Associated Press: Well-timed bets on Polymarket tied to the Iran war draw calls for investigations from lawmakers. “Calls are increasing inside Congress for investigations into the prediction market platform Polymarket after the latest instance where groups of anonymous traders made strategic, well-timed bets on a major geopolitical event hours before it occurred.”