Politico: Polymarket sued over ‘flagrantly deceptive’ social media ads. “A consumer protection group accused Polymarket of orchestrating ‘flagrantly deceptive’ social media ad campaigns to raise its profile and persuade American consumers to place bets on a platform that wasn’t technically available in the U.S.”

Gizmodo: Hackers Steal Funds From Polymarket Users, Potentially Millions. “A third-party vendor has been compromised, and some Polymarket users have lost money to hackers, according to a tweet from the betting site. The company has not confirmed how much was lost, though independent monitors on X suggest it could be around $3 million.”

Wall Street Journal: They looked like they were getting rich on Polymarket—but none of it was real. This link goes to an MSN-syndicated version of the article which has no paywall. “[George] Makihara, who declined to comment, is one of dozens of mostly college-age creators Polymarket paid to film themselves making fake trades and sometimes scoring fake wins, according to an analysis of more […]

#gambling
#Betting
#Onlinegambling
#OnlineBetting
#Addiction

{I’m a recovering online gambling addict. There’s nothing special about my story – and that’s a problem}

https://globe2go.pressreader.com/article/281509347894916

Gizmodo: Kalshi Asks Influencers to Take Down Sponsored Conspiracy Posts About the LA Election. “According to reporting from Semafor, the prediction market Kalshi sought to clean up apparent messes on Friday after some of its influencer relationships essentially made it look like it was paying to distribute conspiracy content online. Posts have now been removed at Kalshi’s request. However, […]

Politico: Polymarket is paying some of social media’s biggest political influencers. “At least 20 of the content creators identified by POLITICO promoted Polymarket on social media after they started receiving money from [chief marketing officer Matthew] Modabber, according to the payment records and POLITICO’s analysis of their social media activity. During the 14-month span reflected in […]

NPR: DOJ is investigating former congressman George Santos for insider trading on Kalshi. “Kalshi detected Santos’ trades, froze his account and referred the case to the Commodity Futures Trading Commission and the Department of Justice, which both opened investigations into Santos, according to a person familiar with Kalshi’s investigation who was not authorized to speak publicly.”

Popular Info: Trump promotes unregulated online casino after $1 million Super PAC donation. “On Truth Social, Trump has repeatedly promoted Stake, an unregulated online casino that, according to state gambling regulators, is operating illegally. Trump publicized Stake alongside the UFC match being held at the White House on his 80th birthday, June 14. He posted AI-generated images featuring […]

ABC News: Google information security engineer charged with using inside information to make $1M on Polymarket. “A Google employee fraudulently made more than $1 million by using inside information to place Polymarket bets on what users were searching for on Google, according to a federal criminal complaint unsealed Wednesday in New York.”

Reuters: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licences. “Spain’s Consumer Rights Ministry temporarily banned so-called prediction markets Polymarket and Kalshi ​for operating in the country without a ‌gambling licence, the official state gazette showed on Tuesday.”