Weekender: Prediction Markets Take Center Stage
This week's newsletters were taken over by prediction market news, as Kalshi's foray into sports contracts is all anyone seems to care about.
The Bulletin Board
ABOVE the FOLD: The week’s top stories from Straight to the Point.
HOUSEKEEPING: Podcasts, featured articles, and more from yours truly.
NEWSLETTER ROUNDUP: The best of the best from industry newsletters.
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Above the Fold: The Week’s Top Stories on STTP
[MONDAY]: After receiving cease-and-desist letters following its entry into sports markets, Kalshi has filed suit against Nevada and New Jersey in defense of its 'truth machines.'
[TUESDAY]: Ohio is the latest state to send a cease-and-desist letter to Kalshi for offering sports markets, as momentum builds against prediction markets entry into sports. STTP Note: The number has already grown to four, but more on that next week…
[WEDNESDAY]: Kalshi claims to be a peer-to-peer exchange, not a sportsbook, but critics argue its market makers, like Susquehanna, act as bookmakers taking on risk.
[THURSDAY]: A sports betting bill has weaved its way through the Hawaii legislature, as the Aloha State inches closer to what many thought impossible: Legalizing gambling.
Housekeeping
[FRIDAY FEATURE]: New products take advantage of legal gray areas, quacking they’re not ducks, they're mallards. Let’s call it what it is—gambling.
The Duck Test
There’s an old saying: “If it looks like a duck, walks like a duck, and quacks like a duck, it’s probably a duck.”
[PODCAST]: No podcast this week, so I will recommend a previous episode with Brian Wyman, who talked about the myths and realities of online casino legalization.
Episode 41: The Reality Of Legalizing Online Casinos with Brian Wyman
"It’s really hard for somebody at this point to say with a straight face, ‘iGaming doesn’t affect land-based casinos at all.’ I don’t think that’s honest, really." ~ Brian Wyman
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