Washington — Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on U.S. military operations, according to a memorandum obtained by CBS News. In the Oct. 20 message to senior Pentagon leadership and combatant commanders, Hegseth said the prohibition would apply to classified and unclassified information and specifically includes…
The online predictions market platform Polymarket has removed a contract that allowed users to bet on whether any of the seven men accused of sexually assaulting or exploiting a Cornell student in 2024 will be charged with a felony sex crime. More than $450,000 had been wagered on this question before it was taken off…
The National Football League is urging the Supreme Court to decide whether the federal government or U.S. states should have legal authority to set the rules for prediction markets. In an amicus brief filed in support of a September petition by the New Jersey attorney general’s office, the NFL expressed support for prior court rulings…
Donald Trump Jr.’s venture capital firm punched back Tuesday at suspicions cast by a key congressional Democrat about potential “insider political influence,” likely foreshadowing the political showdowns in the U.S. House if control of the chamber flips in the November elections. In a letter shared with CBS News, the legal counsel for the president’s eldest…
The New York City Council said Wednesday that it is investigating four prediction markets over allegations that the companies engage in deceptive marketing. The probe will examine the advertising practices of Gemini Titan, Kalshi and Polymarket, all of which are based in New York, as well as Texas-based Coinbase. “Prediction markets aggressively entice consumers to…
New York prosecutors are accusing Kalshi of running an illegal gambling operation, becoming the latest state to file a lawsuit against the prediction market. The complaint seeks to halt Kalshi’s operations in New York, force it to pay restitution to consumers who made bets on the platform, forfeit its profits and pay fines equal to three…
Weeks after top Senate Democrats pushed for answers on whether a provision in the controversial tax settlement between President Trump and his own administration applies to companies co-founded by or affiliated with the Trump family, several of the businesses have distanced themselves from the deal, according to Sen. Elizabeth Warren, who launched the investigation. As…
Kalshi, one of the leading prediction markets, is starting a midterm election hub that offers real-time forecasts driven by wagers predicting race outcomes. The hub displays election outcome forecasts, polling, fundraising statistics and historical election data, the company said in a statement on Wednesday. Kalshi bills the hub as a “one-stop-shop for state and federal election…
