{"id":14008,"date":"2025-09-03T10:09:22","date_gmt":"2025-09-03T17:09:22","guid":{"rendered":"https:\/\/bigjimindustries.com\/wordpress\/?p=14008"},"modified":"2025-10-11T10:13:32","modified_gmt":"2025-10-11T17:13:32","slug":"under-and-over","status":"publish","type":"post","link":"https:\/\/bigjimindustries.com\/wordpress\/2025\/09\/03\/under-and-over\/","title":{"rendered":"Under And Over"},"content":{"rendered":"\n

from SLATE<\/a><\/em><\/p>\n\n\n\n

The Legalized Gambling Industry Is Collapsing in on Itself<\/h1>\n\n\n\n

You\u2019ll soon be able to bet on elections, the Super Bowl, and the papal conclave, all in one place.<\/h2>\n\n\n\n

BY NITISH PAHWA<\/a><\/p>\n\n\n\n

\"A
Photo illustration by Slate. Images via efks\/iStock\/Getty Images Plus and \u0410\u043b\u0435\u043a\u0441\u0435\u0439 \u0411\u0435\u043b\u043e\u0437\u0435\u0440\u0441\u043a\u0438\u0439\/iStock\/Getty Images Plus.<\/em><\/figcaption><\/figure>\n\n\n\n

Prediction markets like Polymarket\u2014best known for bets on current events like elections, market trends, or celebrity news<\/a>\u2014haven\u2019t been fully legalized the way sports-betting apps have, with the blessing of the nation\u2019s highest court. But thanks to political connections, and a regulatory system gutted<\/a> and captured by private interests<\/a>, they\u2019ve been allowed to operate more freely than ever before. And they\u2019re using that to expand their gambling ambitions into<\/em>the sporting world, to the ire of Native American reservations<\/a> that rely on sportsbook revenue, as well as the established companies (DraftKings, FanDuel, Caesars Sportsbook, etc.) still earning their operational licenses state by state.<\/p>\n\n\n\n

All year, the New York\u2013based betting exchange Kalshi (which counts Donald Trump Jr. as a \u201cstrategic adviser<\/a>\u201d) has been facing off against individual state-level regulators over its offers for users to bet on sporting events. As Front Office Sports characterized<\/a> the still-ongoing disputes back in April: \u201cThe legal fight stems from the question of whether or not Kalshi\u2019s sports event contracts constitute sports betting, according to court documents. Kalshi argues its offerings are trades on sports outcomes, not bets, and should therefore be regulated by federal, not state, law.\u201d (Basically: In a typical casino setup, the house controls the stakes. A prediction market, by contrast, adjusts prices based solely on public participation.) If its all-but-legal \u201cevents contracts\u201d are to be applied to professional-game outcomes and legally deemed to be materially different from the process that undergirds apps like BetMGM, then Kalshi can hardly be limited by the same terms governing other sports-betting apps\u2014and the whole gambling space will be even more of a Wild West than it is now.<\/p>\n\n\n\n

[ click to continue reading at SLATE<\/a> ]<\/p>\n","protected":false},"excerpt":{"rendered":"

from SLATE The Legalized Gambling Industry Is Collapsing in on Itself You\u2019ll soon be able to bet on elections, the Super Bowl, and the papal conclave, all in one place. BY NITISH PAHWA Prediction markets like Polymarket\u2014best known for bets on current events like elections, market trends, or celebrity news\u2014haven\u2019t been fully legalized the way sports-betting apps […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-14008","post","type-post","status-publish","format-standard","hentry","category-culture-art"],"_links":{"self":[{"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/posts\/14008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/comments?post=14008"}],"version-history":[{"count":0,"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/posts\/14008\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/media?parent=14008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/categories?post=14008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigjimindustries.com\/wordpress\/wp-json\/wp\/v2\/tags?post=14008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}