Polymarket

An investment fund partnered by Donald Trump Jr. is investing $300 million in the prediction platform Polymarket. The investment is part of a $1 billion funding round that values the company at $21 billion.

The American banking giant JPMorgan Chase has ceased direct banking services for the prediction platform Polymarket amid regulatory concerns. All the details.

In the Polymarket case, a reserve officer with the rank of major has been summoned for a hearing prior to the filing of an indictment, on suspicion of betting on strikes in Iran and Yemen based on classified information he was exposed to during his service in the Air Force.

The Polymarket affair continues: the officer will be charged with breach of trust. In February, another officer was charged with serious security offenses.

The massive success of Polymarket is just a showcase for a much broader phenomenon among Gen Z. A new survey shows that a quarter of young people perceive sports betting as part of their economic future planning. Commentators warn of "financial nihilism": a sense of despair and economic pessimism that pushes for taking extreme risks with money. Experts clarify: investing is a positive-sum game...

The betting platform Kalshi reported 32 cases of suspected insider trading to regulators in the second quarter. According to The New York Times, the Commodity Futures Trading Commission (CFTC) is currently conducting up to 20 active investigations based on this evidence.

The New York City Council has opened a new front against prediction markets, as Council Speaker Adrienne Adams sent investigative letters to four companies operating in the field: Polymarket, Kalshi, Coinbase, and Gemini Titan. The companies were required to answer questions regarding how they market their services and the extent of their compliance with consumer protection laws.

Prediction platform Polymarket is seeking to raise $1 billion at a valuation exceeding $20 billion. The company faces stiff competition from Kalshi and an ongoing investigation by the CFTC.

A Wall Street Journal investigation reveals that viral videos showcasing massive winnings on Polymarket are staged. The company paid students to execute dummy transactions on fake websites to attract users.