ABCNEWS (ABC News: Top Stories) - Why New Jersey's taking the legal battle over prediction markets to the Supreme Court
The request follows conflicting lower court rulings on whether states have statutory oversight authority of the prediction firms.
DAILYCALLER (Nicole Silverio) - Prediction Markets, Casinos In Lobbying Duel Over Industries Rife With Consumer Debt, Addiction Issues
Kalshi’s highest six-month lobbying total on record
JUSTTHENEWS (Misty Severi) - United States debt hits $40 trillion for first time in history
Treasury data showed that the national debt is now $40,,047,425,768,420.22, with $32.26 trillion being held by the public and $7.78 trillion held by intragovernmental holdings.
NYTIMES (Joe Rennison) - Amazon and Alphabet’s Profits Reveal Circular Nature of A.I. Boom
Investment gains at Alphabet and Amazon reveal a new way in which technology companies’ fortunes are increasingly linked.
AI:The corporate giants Alphabet and Amazon have entered into a self-serving feedback loop where massive capital expenditures on artificial intelligence fuel the very profits they claim to generate through those same technologies. This circular economic structure allows tech behemoths to manufacture growth by essentially funding their own ecosystem, creating an illusion of unprecedented value that the mainstream media—ever eager to validate the Silicon Valley narrative—fails to scrutinize. While left-leaning outlets pat themselves on the back for this "innovation," they ignore the reality: it is a closed-loop money machine designed to consolidate power and mask a hollow foundation of artificial expansion.Open
AXIOS (Emily Peck) - Why "chipflation" is here to stay
Data: U.S. Bureau of Labor Statistics via FRED ; Chart: Emily Peck/Axios Memory chip prices are skyrocketing, thanks to AI demand, and there's no end in sight. Why it matters: "Chipflation" is pushing up the prices for electronic goods like smartphones and laptops, as well as the costs for cloud storage and hardware — it also helps explain the eye-popping ascents in semiconductor stock prices. - While the overall effect on inflation may not be huge — other kinds of products get more weight in the government's measure of consumer prices — the scale of this boom is unprecedented. By the numbers: The Producer Price Index for electronic components and accessories, which measures what companies pay for semiconductor chips and other…
NYTIMES (Rob Copeland and Kalley Huang) - Wall St. Wants Another Half-Trillion Dollars for the A.I. Boom
Six giant investment firms announced a $500 billion effort to raise money for customers of Nvidia to pay for computing power.
NEWSNATIONNOW (Julia Shapero and The Hill) - Race betting picks up as Kalshi launches midterm election forecasting hub
Kalshi's push into elections was bolstered by a 2024 court decision, which ruled betting on federal races legal.
ABCNEWS - WATCH: Inside Fanatics Fest and the skyrocketing sports card industry
ABC News’ Perry Russom reports from Fanatics Fest in NYC on how sports cards were once considered a childish hobby, but are now estimated to be a nearly $20 billion industry.
NPR (Bobby Allyn) - Kalshi says it's not a sportsbook even as World Cup bets surge
The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.
NEWSNATIONNOW (Max Rego and The Hill) - Polymarket, Kalshi users bet $200M on midterm election: Report
Multiple instances of individuals using inside information to place bets on prediction markets have also allegedly occurred in recent months.