While platforms like Polymarket and Kalshi are meant 'to aggregate the wisdom of the crowd,' professor warns that a few 'relatively large players' are 'putting up very large sums'

The NBA announced Monday it is partnering with prediction markets Kalshi and Polymarket, as multiple states have sued those companies in an attempt to establish their regulatory authority over them. The league said in a release it entered into a memorandum of understanding with the Commodity Futures Trading Commission (CFTC) to designate Kalshi and Polymarket…

Defense Secretary Pete Hegseth barred all Pentagon staff from using undisclosed information to place wagers on forthcoming U.S. military action using betting platforms and prediction markets like Kalshi and Polymarket.  “Make no mistake why this matters. Our enemies watch movements in these markets,” Hegseth said in a memo, first obtained by CBS News. “When an American…