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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.
Former Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz began trial Monday on charges they took bribes to help gamblers win over $460,000 betting on individual pitches. Prosecutors allege Clase started feeding pitch information to bettors in 2023 and brought Ortiz into the scheme in 2025; both have pleaded not guilty to wire fraud, money laundering and bribery-related conspiracy charges and remain on unpaid nondisciplinary leave.
The NBA has signed agreements designating Kalshi and Polymarket as its official preferred prediction market exchanges, allowing both platforms to use that title in their marketing. The league also reached an agreement involving a federal agency responsible for regulating these prediction markets.
A researcher named Jared Holt shared a photo of a fortune cookie slip that read 'Yes, we paid for a fortune cookie ad' with a QR code linking to prediction market Polymarket. The image spread widely across Bluesky and X, drawing anger from users who called it a new low in advertising. It remains unclear whether Polymarket directly arranged the ad or used a third-party firm, and the company has not yet responded to requests for comment.
Canada's federal standing committee on Canadian heritage is scheduled to vote next week on Bill S-211, legislation aimed at limiting the volume of gambling advertising during sports broadcasts, social media and online video games. The move comes alongside new data showing rising rates of problem gambling and gambling-related suicides in Ontario, and a CBC-Bristol University analysis finding two to three gambling ads per minute during NHL playoff broadcasts.
Utah officials allege prediction-market operator Kalshi ran an unlicensed gambling operation in the state, estimating the company collected as much as $61.2 million in fees from wagers placed by Utah users. The state is pursuing financial penalties tied to those allegedly illegal transactions.
Thomas, a former sports bettor from Pennsylvania, who accumulated over $50,000 in online sportsbook debt and filed for bankruptcy, self-excluded from DraftKings and FanDuel. After discovering Kalshi through an Instagram ad, he was drawn into a new form of betting on prediction markets, which he found difficult to resist despite initial intentions to quit gambling. His experience highlights how new platforms can attract individuals seeking alternative gambling outlets after bans or financial setbacks.
CNBC's Morning Squawk newsletter bundled several unrelated items: Chick-fil-A's growth plans, Gen Z sports betting trends, and new AI-enabled smart glasses from Oakley Meta and Ray-Ban. The newsletter also reported fresh attacks on oil tankers near Oman and Iran, a G7 pledge to release diesel reserves to ease fuel costs, and OPEC+'s decision to leave production targets unchanged for November.
According to a New York Times report cited by EFF, DraftKings trains a machine learning model on customer betting histories to identify gamblers likely to keep losing money. The company then sends these identified users targeted promotions designed to draw them back onto the platform to place more bets.
According to a New York Times investigation, DraftKings developed a machine-learning system that scores customers based on personal data to predict who is most likely to lose money in response to promotional offers. Former employees say the tool was used to funnel bonuses, free bets and profit boosts toward users flagged as high-risk gamblers, rather than to protect them.
A University of Toronto study found emergency department visits for gambling disorders doubled after Canada legalized single-event sports betting in 2021 and Ontario opened its online gambling market to private operators in 2022. Researchers examined 952 ER visits over 14 years and found the increase was concentrated among young men, with visits among males aged 10-29 up 154 per cent and those aged 30-44 up 116 per cent above expected levels, while rates among females stayed flat.
New Jersey's attorney general has asked the Supreme Court to resolve whether states can regulate sports wagers offered through prediction markets like Kalshi. The move follows a split between federal appeals courts: the 3rd Circuit ruled such bets are federally regulated swaps outside state control, while the 9th Circuit found they are simply gambling by another name and can be blocked by states like Nevada.