For young investors, the line between investing and gambling has never been easier to blur. You can place a bet or make a trade on the same device, and almost instantaneously know exactly where you stand. A recent survey from financial services firm Betterment inspired a flurry of headlines about how 26% of Gen Z
Former Republican congressman George Santos has received a first-of-its-kind lifetime ban from the prediction market platform Kalshi, which has also fined him $71,356 for violating its rules around insider trading and market manipulation. According to the notice of disciplinary action Kalshi posted today, the former politician placed trades in markets related to whether he would
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A proposal slated by Pauline Hanson to allow Australians to withdraw more from their superannuation would “decimate” the retirement income of millions of Australians, Treasurer Jim Chalmers warned this morning. “[Superannuation] is a really important part of our economic security and retirement incomes for Australian workers,” Chalmers told Seven’s Sunrise. Federal Treasurer Jim Chalmers.Alex Ellinghausen
Twenty-eight-year-old Jacob Fortinsky has been busy. “I was a groomsman at two weddings this weekend,” he tells me over Zoom. Also, the sports trading company he runs, Novig, launched its prediction market last week, facilitating $18 million in trading volume on its first day. Today, Novig launches a “responsible trading framework” in its exchange rulebook,
SALT LAKE CITY — Utah can enforce its strict anti-gambling laws on prediction markets such as Kalshi and Polymarket, a federal judge ruled in a win for states seeking to rein in the popular betting platforms. Utah has been on the front lines of a battle between states and the federal government over who regulates
