Kalshi in no rush for Supreme Court ruling in fight with states

The AtlanticIndependent🔒Center4 hr. ago

The article explores the growing phenomenon of prediction markets and online betting, particularly among younger demographics. It references anthropologist Natasha Schüll's research on gamblers who seek a trance-like 'zone' rather than purely monetary gain. Online betting now includes prediction markets where users trade contracts based on real-world outcomes, with companies like Polymarket and Kalshi projected to reach $10 trillion in annual trading volume by 2035. While these platforms claim to differ from traditional gambling, legal classifications remain unclear. The article notes the rise of mobile sports betting after the Supreme Court legalized it in 2018, and highlights concerns over problem gambling, especially among low-income populations.

Bias read (Center): The article presents a balanced overview of prediction markets and online betting, discussing both their economic potential and societal risks. It cites multiple sources, including reports on problem gambling and regulatory actions, without overtly favoring any side. The framing is neutral, focusing

SemaforIndependentCenter12 hr. ago

Kalshi, a news prediction market company, is not pushing for a swift Supreme Court decision in its legal dispute with states over the regulation of sports betting contracts. While Kalshi acknowledges that the Supreme Court will eventually need to weigh in on whether states and tribal governments can regulate these contracts as sports bets, it is seeking more time due to pending rehearing petitions and new regulations from the Commodity Futures Trading Commission (CFTC). This delay has led some in the gaming industry to question Kalshi’s confidence in its position, though Kalshi’s legal team argues the extension is standard practice. The issue has become contentious after conflicting rulings from different federal appellate courts, with the Third Circuit supporting Kalshi and the Sixth and Ninth Circuits backing the states. Meanwhile, Nevada has opposed the Ninth Circuit’s rehearing request, stating that upcoming CFTC rules won’t affect the case’s outcome.

Bias read (Center): The article presents both Kalshi’s perspective and opposing viewpoints from the gaming industry and state authorities, including Nevada. It includes quotes from multiple stakeholders and does not favor one side over another. The framing remains neutral, focusing on the legal and regulatory landscape

The AtlanticIndependent🔒Center2 days ago

The article introduces 'Over/Under,' a new newsletter exploring the rise of prediction markets and gambling in modern American society. It highlights platforms like Kalshi and Polymarket, which allow individuals to bet on a wide range of topics including politics, entertainment, and even global events like wars and natural disasters. The piece notes the growing influence of these markets, citing examples such as athletes securing sponsorships, livestreamers engaging in online gambling, and news organizations partnering with prediction market firms. It draws parallels to the cryptocurrency boom of the early 2020s, emphasizing how niche industries are becoming mainstream. The article also mentions concerns around insider trading, such as a U.S. Army master sergeant allegedly using classified information to profit from bets related to the kidnapping of Venezuelan President Nicolás Maduro, and notes ongoing legal scrutiny by federal prosecutors.

Bias read (Center): The article provides a balanced overview of the growth of prediction markets and gambling, discussing both opportunities and challenges without overtly favoring any particular perspective. It includes examples of various stakeholders (athletes, streamers, corporations) and mentions regulatory issues