The state was the first to pass a law banning Kalshi and Polymarket. A lawsuit filed by a federal agency may set a precedent on who gets to regulate them.
Prediction markets have taken off in popularity, drawing billions of dollars in trades. Some states have tried to ban them.
Donald Trump Jr.'s venture capital firm, 1789 Capital, rejected Rep. Jamie Raskin's investigation demands in a sharply worded legal letter, calling his allegations unsubstantiated and refusing to hand over confidential business records. Lawyers for the firm sent the letter to Raskin's office this week, dismissing the Maryland Democrat's claims that 1789 Capital made suspiciously well-timed […] The post Trump Jr.'s investment firm fires back at Raskin's demand for records, calls probe "political gamesmanship" appeared first on American Almanac .
Donald Trump Jr.'s venture capital firm, 1789 Capital, rejected Rep. Jamie Raskin's investigation demands in a sharply worded legal letter, calling his allegations unsubstantiated and refusing to hand over confidential business records. Lawyers for the firm sent the letter to Raskin's office this week, dismissing the Maryland Democrat's claims that 1789 Capital made suspiciously well-timed investments in companies that later received federal funding or favorable policy treatment. The response, shared with CBS News , accused Raskin of conflating separate entities, mischaracterizing transactions, and contradicting his own cited sources. The clash marks the latest round in a broader Democratic campaign to scrutinize the Trump family's…Open
“On Polymarket it was predicted the verdict would be Not Guilty. Are you surprised? #Polymarketpartner,” Hirsch wrote
The request follows conflicting lower court rulings on whether states have statutory oversight authority of the prediction firms.
Kalshi and Polymarket have rapidly expanded their businesses by offering contracts tied to the outcomes of sporting events, political contests and other real-world events. The companies argue that their platforms function differently from traditional sportsbooks because users trade against one another rather than betting directly against the house.
Kalshi’s highest six-month lobbying total on record
A U.S. service member is reportedly under investigation after scoring a more than $1 million payday from a prediction market about national security. “The biggest concern is that the operations of military members should not become financial instruments,” Navy veteran Natalie Oliverio, a correspondent for the Military Times, tells “Jesse Weber Live.” #Military #Gambling #Polymarket "Jesse Weber Live" brings a fresh, fast-paced, and often unexpected take on the day’s headlines, diving into the biggest stories through the lens of legal expertise.
A legal dispute over the future of Kalshi, Polymarket and others has drawn in the Trump administration, the president’s son and nearly every state attorney general.
A new report raises concerns that insiders are using classified U.S. military information to place Polymarket bets that foreign adversaries can readily decode. “It’s shockingly easy,” Michelle Kendler-Kretsch, research fellow at Anti-Corruption Data Collective, tells “Jesse Weber Live.” #Crime #Tech #Military #Tech #Military #Crime "Jesse Weber Live" brings a fresh, fast-paced, and often unexpected take on the day’s headlines, diving into the biggest stories through the lens of legal expertise.