Senators can no longer use insider information to profit on emerging prediction market platforms. The Senate, before leaving Washington, D.C., for a weeklong recess, quietly passed legislation that would prevent senators and their staff from betting on prediction markets like Kalshi and Polymarket. On those platforms, users can bet on nearly anything, from world events […]
Tag: betting
First prison sentence dealt in NBA illegal betting scandal
The first prison sentence has been dealt related to the wide-ranging NBA betting scandal that rocked the sport in the fall. Timothy McCormack was sentenced by a New York federal judge Wednesday to two years in prison, per ESPN. “I’ve struggled with a gambling addiction for more than half my life,” McCormack said at his […]
Congress investigates betting scandals rocking NBA and Major League Baseball following federal charges
Odds are that most Thanksgiving dinners will include a heaping helping of Packers-Lions. A side of Chiefs-Cowboys. A run back out to the fridge for a plate of stuffing alongside the nightcap game of Bengals-Ravens. A veritable football smorgasbord paired with mashed potatoes, green bean casserole and a slab of pumpkin pie. But the real […]
MLB cracks down with new betting limit after Cleveland pitchers charged in gambling scheme
MLB announced that prominent U.S. sportsbook operators are establishing a nationwide $200 betting limit on baseball prop wagers focused on individual pitches in the wake of the indictment of Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz for their alleged roles in a gambling scheme. The announcement also noted that individual-pitch bets are now prohibited […]