Prediction markets like Kalshi, once known for offering wagers on elections, are now in the multibillion-dollar sports betting business and outside the reach of state regulations and taxes.
Category: Gambling
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In-Game Sports Betting Is Growing. So Are the Concerns.
In-game betting is predicted to grow to more than $14 billion by the end of the decade. It’s a huge part of the sports gambling industry. Public health officials worry that it could be increasing the risks for gamblers.
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Cruise Ship Passenger With $16,000 Gambling Debt Jumps Overboard
The man, who was rescued, told authorities he was trying to avoid declaring money in his possession, but Royal Caribbean said he also had casino and gaming losses.
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As Powerball Nears Record, Ticket Buyers Dream of New Houses and Winning in Secret
The Powerball jackpot hit $1.8 billion ahead of Saturday’s drawing, making it the second-largest and inspiring many to play.
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Tiny Love Stories: ‘His Private Gambling Felt Like an Earthquake’
Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.
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Republican Tax Bill Is a Losing Deal for Gamblers
The law is creating backlash from the gambling industry and bettors who could owe taxes even if they break even.
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Federal Prosecutors Close Inquiry Into Polymarket Betting Website
The site became prominent last year when people bet on the outcome of the 2024 presidential election.
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Break Even at the Casino? You May Still Owe Taxes.
The new domestic policy law rewrites tax rules for the hundreds of billions of dollars Americans legally wager each year. A Nevada lawmaker has introduced a bill to overturn that provision.
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The Online Casinos That Can Operate as Long as They Say They Aren’t Actually Casinos
Policing loopholes in gambling law can be challenging, and most states have been slow to adapt.
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Kalshi, an Online Prediction Market, Will Open Up to Brokerages
The platform, which recently hired Donald Trump Jr. as an adviser, is seeking to tap Wall Street to expand its potential customer base.
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Rick Kuhn, 69, Dies; Convicted in a College Gambling Scandal
While playing basketball at Boston College, he participated in a point-shaving scheme with Henry Hill, the mobster later portrayed in the movie “Goodfellas.”