News

Kalshi and Polymarket face backlash over bets on clinical trial outcomes

Critics say prediction markets on clinical trials and FDA approvals could create ethical and integrity risks, while Kalshi argues the markets may provide useful information about drug development.

Dean Sultan wins SHRPO Event 37 after three-way deal for $6,322

Dean Sultan took the official win in Event 37 of the 2026 Seminole Hard Rock Poker Open after a three-way deal, earning $6,322 in the $1,100 Turbo Purple Chip Bounty tournament.

DraftKings and FanDuel signal heavier football-season spending as prediction markets evolve

DraftKings and FanDuel used their latest earnings narratives to signal a more aggressive push into football season, with prediction markets, customer acquisition and looming CFTC scrutiny all shaping the outlook.

DraftKings Says Predictions Volume Reached $11B Run Rate as DKeX Expansion Accelerates

DraftKings said its Predictions business reached an $11 billion annualized trading-volume run rate in July, with more sports content expected to move onto its in-house DKeX exchange.

Flutter names new CEO as it cuts guidance and ramps up US spending amid prediction-market pressure

Flutter said Peter Jackson will step down in October, when international chief Dan Taylor takes over, as the group lowers guidance and spends more in the US to compete with prediction markets.

Flutter CEO Peter Jackson to step down as FanDuel parent cuts 2026 US guidance

Flutter will replace CEO Peter Jackson with Dan Taylor on Sept. 30, while also lowering 2026 US guidance and increasing investment in FanDuel despite pressure on near-term revenue and EBITDA.

Florida Lottery Sales Reach $9.7B for Fiscal 2025-26 as Scratch-Offs Lead Growth

Florida Lottery sales climbed to $9.7 billion in fiscal 2025-26, with scratch-offs driving much of the increase and $2.36 billion generated for the state’s education trust fund.

Sam Schwartz Q&A Highlights Prediction Market Competition, CFTC Oversight, and Sportsbook Tax Pressure

Sam Schwartz says Kalshi currently holds most of the CFTC-regulated prediction market share, while operators such as ProphetX and Novig compete for position in a sector still shaped by regulation, tax changes, and possible court battles ahead.