Prediction markets have become America’s new national pastime
My parents’ generation may have been on to something when they railed against gambling. If only George Santos had listened
TL;DR
- George Santos banned from Kalshi for betting on not attending the State of the Union, accused of insider trading.
- Bill Simmons admitted to using his daughter's boyfriend as a proxy to bet on FanDuel from Massachusetts, where he lives in California.
- Prediction markets are federally legal as financial exchanges, while sports betting legality varies by state.
- The author's parents instilled a strong aversion to gambling due to its addictive nature and potential for financial ruin.
- Gambling has become more mainstream in America, with prediction markets and fantasy sports growing significantly.
- Concerns exist about the regulation and ethical implications of allowing wagers on various real-world events, including political outcomes.