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DraftKings lowered its 2026 financial guidance, citing competition from prediction-market platforms such as Polymarket and Kalshi. The Boston-based sports-betting company is simultaneously increasing its own investment in prediction-style offerings to compete in that space. Shares fell sharply following the announcement.
A data scientist at Northwestern University has built a platform that pulls betting data from prediction markets Kalshi and Polymarket, then runs statistical simulations to forecast election outcomes. The tool refreshes every 10 minutes and is currently being used to track projections for control of the U.S. Senate.
Former CFTC chairman James Christopher Giancarlo, now an adviser to companies including Polymarket, told Bloomberg TV that prediction markets benefit society because they satisfy a basic human desire for certainty. Pressed by anchor Tim Stenovec on concerns about the 'gamification' of betting on everything from weather to elections, Giancarlo said such markets aggregate the 'wisdom of the crowd' more effectively than traditional polling.
Polymarket suspended trading on its international site after hackers stole roughly $2.6 million from about 700 traders, according to the Wall Street Journal. The company says the breach stemmed from a flaw in DebugBear, a third-party website monitoring tool, and has pledged to reimburse affected users. Polymarket's website was inaccessible at the time of reporting.
Polymarket paused trading on its international platform for nearly an hour Thursday after discovering that software from third-party vendor DebugBear had been compromised. The company said affected users would be fully reimbursed and referred the incident to UK law enforcement, while The Block reported roughly $2.65 million in crypto was drained from user wallets, citing Arkham data. Polymarket's US platform was reportedly unaffected, and trading resumed around 3 p.m. ET.
Polymarket paused trading on its international platform for about an hour on Thursday after a security incident affecting third-party provider DebugBear, a UK website-monitoring company. Polymarket said it identified and fixed the issue, resumed trading, and pledged to fully reimburse any affected traders. The company also referred the matter to UK law enforcement.
Crypto exchange Binance and prediction market Polymarket both suspended trading after suffering hacks, according to a Wall Street Journal risk report roundup. The same report notes the Trump administration offered tariff relief during talks to secure a U.S. Audi factory, and that Cleveland-Cliffs will retain Stelco amid a jobs dispute with Canada's government.
Polymarket paused trading on its international platform after a UK-based third-party vendor was hacked, draining funds from user wallets. Blockchain analytics firm Bubblemaps estimated roughly 700 users lost about $2.7 million combined. Polymarket said it has notified UK law enforcement and will refund affected traders, but did not confirm the exact scale of losses; its separate, US-regulated Polymarket US platform was unaffected.
Polymarket paused trading on its international platform after a breach of a UK-based third-party vendor led to funds being drained from some users' wallets. Blockchain analytics firm Bubblemaps estimated about 700 users were affected and roughly $2.7 million stolen; Polymarket has notified UK law enforcement and pledged to refund affected traders. The company's US-regulated platform, Polymarket US, was not affected, and trading has since resumed.
Polymarket suspended trading Thursday after a compromised third-party provider distributed malicious JavaScript that drained user funds, with security researchers tracing about $2.5 million in POL tokens to a suspected attacker wallet. The platform briefly went into cancel-only mode, fixed the issue within roughly an hour, and resumed trading, saying all affected users will be reimbursed. The company has referred the incident to law enforcement but has not disclosed how many users were affected or the exact amount stolen.
Utah has brought 14 criminal charges against prediction market Kalshi and two executives, CEO Tarek Mansour and COO Luana Lopes Lara, including 12 counts tied to illegally promoting online gambling, according to the Salt Lake Tribune and Associated Press. Kalshi called the action a "crazy overreach" and said it plans to fight the charges in court, citing a prior legal win in Arizona.
The NBA has struck multi-year commercial agreements naming Kalshi and Polymarket as its 'Preferred Prediction Market Exchanges,' following similar moves by MLB and NHL. The deals set up a data-sharing framework meant to flag suspicious betting patterns and include a Memorandum of Understanding with the US Commodity Futures Trading Commission, since prediction markets fall under federal rather than state oversight.