Someone Won 93% of Their Bets on Secret Military Strikes. Trump’s Son Is Invested in the Platform

Watch The Full Philip DeFranco Show: https://www.youtube.com/defranco?sub_confirmation=1 Subscribe for more Quickie News: https://www.youtube.com/defranco?sub_confirmation=1 In 2018, the Supreme Court struck down a federal ban on sports betting, and since then most states have legalized it. But it’s still illegal in the two most populous states in the union—California and Texas—so the big betting sites like DraftKings and FanDuel have been shut out of those markets. Except here’s where things get messy, because you see, while gambling is regulated by the states, prediction markets are regulated by the feds. Right, specifically the Commodity Futures Trading Commission, or CFTC, the same agency that regulates financial assets like oil and crop futures. Now legally, that stuff’s considered distinct from casino-style gambling and sports betting, but prediction markets have begun offering bets related to sports which critics argue is indistinguishable from traditional sports betting. So platforms like Polymarket and Kalshi have slipped through that loophole into states like California and Texas where DraftKings and FanDuel are barred, even though they’re offering arguably an identical product. And it’s not like sports betting is a small part of what they do; right, half of Polymarket’s trading is sports-related, and for Kalshi that number’s around 90%. Now ordinarily, the federal government would clamp down on these companies for violating the law, but we don’t live in ordinary times. Because the Trump family’s in bed with the industry; right, Don Jr. is invested in Polymarket through his venture capital firm, and he’s an advisor to Kalshi. Hell, Truth Social even announced its own crypto-based prediction market in October. So the Trump administration ended two Biden-era probes into Polymarket and Kalshi last year. And then it approved Polymarket to start operating in the U.S., though Americans had already been able to access the site using VPNs. —————————— Produced by: Cory Ray, Philip DeFranco Edited by: James Girardier, Maxwell Enright, Julie Goldberg, Christian Meeks, Matthew Henry Art Department: William Crespo Writing/Research: Chris Tolve, Philip DeFranco ———————————— #USA #America #Iran