2023-7-1 18:43 |
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Hours before Spotify announced its 2025 Wrapped results, the odds on The Weeknd finishing third on Polymarket’s contract surged from 40% to 99%. Polymarket shared the news on X, framing it as proof that prediction markets work.
A new on-chain report from Lookonchain has reignited debate around Pump. fun’s treasury activity. But the team behind the memecoin launchpad is openly rejecting the claims, calling the circulating numbers “misinformation” and insisting the large transfers reflect internal treasury management, not cash-outs.
Democratic Senators pressed Mike Selig, President Trump’s nomination as the next head of the Commodity Future Trading Commission, about sports event contracts during a hearing before the Agriculture, Nutrition and Forestry Committee today.
Unless it’s repealed, a new tax provision capping the losses gamblers can deduct at 90% takes effect on Jan. 1, 2026. Meanwhile, prediction markets are rising in prominence. A potential result of this dynamic: A migration of big gamblers — professionals and whales, alike — from regulated sportsbooks to prediction markets in the new year.
Just days after announcing a deal with Polymarket, PrizePicks has launched prediction markets through a partnership with Kalshi, Polymarket’s main adversary. Kalshi prediction markets are now available on the PrizePicks app.
Massachusetts has become the latest to state to warn sports betting licensees about getting too deep into the prediction markets business. In a letter to operators, Massachusetts Gaming Commission executive director Dean Serpa writes, “Please accept this letter as notice that you are prohibited from offering sports-related event contracts in Massachusetts, directly or via an […] The post Massachusetts Issues Stern Warning To Sportsbooks About Prediction Market Plans appeared first on DeFi Rate.
Polymarket has relaunched in a limited beta in the U. S. , announcing that it is letting a small number of American users trade contracts on outcomes for sports, politics, pop culture, and more. Founder Shayne Coplan confirmed the news at Cantor Fitzgerald’s Crypto and AI Infrastructure Conference in Miami, calling the U.