{"id":16633,"date":"2024-11-19T13:38:12","date_gmt":"2024-11-19T12:38:12","guid":{"rendered":"https:\/\/costops.com\/index.php\/2024\/11\/19\/techscape-betting-markets-come-for-everything-and-the-fbi-comes-for-a-betting-market\/"},"modified":"2024-11-19T13:38:12","modified_gmt":"2024-11-19T12:38:12","slug":"techscape-betting-markets-come-for-everything-and-the-fbi-comes-for-a-betting-market","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2024\/11\/19\/techscape-betting-markets-come-for-everything-and-the-fbi-comes-for-a-betting-market\/","title":{"rendered":"TechScape: Betting markets come for everything \u2013 and the FBI comes for a betting market"},"content":{"rendered":"

This week in tech news, online predictors are riding high after a slew of accurate US election wagers. Plus, Trump and Musk try to weaponize the communications regulator<\/p>\n

\u2022 Don\u2019t get TechScape delivered to your inbox? Sign up here<\/a><\/p>\n

Gambling on the outcome of the presidential election became legal in the US at the start of October after decades of prohibition, becoming a new type of pre-election poll. Online prediction markets such as Kalshi and Polymarket accepted billions of dollars in wagers on the outcome, with their users favoring Donald Trump with a 70% chance of beating Kamala Harris, out of sync with mainstream polls. Trump\u2019s camp trumpeted the predictions.<\/p>\n

In the UK, election gambling is legal and takes a very different form. Traditional bookmakers and betting firms take players\u2019 wagers and set prices and odds. The bets are not as similar to prediction markets as they are to horse racing. These markets are prone to their own scandals<\/a>. Kalshi and Polymarket offer an online vision of betting that encompasses a wider range of subjects, algorithmically sets prices and relies on cryptocurrency.<\/p>\n

\u201cWe\u2019re just getting started,\u201d said Kalshi CEO Tarek Mansour. Kalshi is adding \u201cclose to 100\u201d new markets to its platform every day and plans to launch combination-based markets, allowing users to bet on a bundle of different outcomes, and conditional markets (for example, \u201cif Trump wins, where will GDP be?\u201d) within weeks. \u201cI think that just accelerates from here \u2026<\/p>\n

Only \u201cterrorism, assassination and violence\u201d are off limits for Kalshi. What about Ukraine? While the conflict falls into the platform\u2019s banned category, Russia\u2019s invasion and the ensuing war have certainly moved stocks and commodities since February 2022. \u201cWe\u2019ll see over time,\u201d said Mansour.<\/p>\n

Continue reading…<\/a>
\nThis week in tech news, online predictors are riding high after a slew of accurate US election wagers. Plus, Trump and Musk try to weaponize the communications regulator
\n\u2022 Don\u2019t get TechScape delivered to your inbox? Sign up here
\nGambling on the outcome of the presidential election became legal in the US at the start of October after decades of prohibition, becoming a new type of pre-election poll. Online prediction markets such as Kalshi and Polymarket accepted billions of dollars in wagers on the outcome, with their users favoring Donald Trump with a 70% chance of beating Kamala Harris, out of sync with mainstream polls. Trump\u2019s camp trumpeted the predictions.
\nIn the UK, election gambling is legal and takes a very different form. Traditional bookmakers and betting firms take players\u2019 wagers and set prices and odds. The bets are not as similar to prediction markets as they are to horse racing. These markets are prone to their own scandals. Kalshi and Polymarket offer an online vision of betting that encompasses a wider range of subjects, algorithmically sets prices and relies on cryptocurrency.
\n\u201cWe\u2019re just getting started,\u201d said Kalshi CEO Tarek Mansour. Kalshi is adding \u201cclose to 100\u201d new markets to its platform every day and plans to launch combination-based markets, allowing users to bet on a bundle of different outcomes, and conditional markets (for example, \u201cif Trump wins, where will GDP be?\u201d) within weeks. \u201cI think that just accelerates from here \u2026
\nOnly \u201cterrorism, assassination and violence\u201d are off limits for Kalshi. What about Ukraine? While the conflict falls into the platform\u2019s banned category, Russia\u2019s invasion and the ensuing war have certainly moved stocks and commodities since February 2022. \u201cWe\u2019ll see over time,\u201d said Mansour. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

This week in tech news, online predictors are riding high after a slew of accurate US election wagers. Plus, Trump and Musk try to weaponize the communications regulator \u2022 Don\u2019t get TechScape delivered to your inbox? Sign up here Gambling on the outcome of the presidential election became legal in the US at the start …<\/p>\n

TechScape: Betting markets come for everything \u2013 and the FBI comes for a betting market<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":16634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/16633"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=16633"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/16633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/16634"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=16633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=16633"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=16633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}