Kalshi bans ex-congressman George Santos for life after suspicious trades
George Santos faces a lifetime ban from Kalshi after failing to cooperate with the prediction market's investigation into his alleged unlawful trades.
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George Santos faces a lifetime ban from Kalshi after failing to cooperate with the prediction market's investigation into his alleged unlawful trades.
New York City lawmakers allege that four major prediction markets engage in deceptive marketing practices and target young adults.
Disgraced former New York Congressman George Santos has agreed to pay $35,000 to settle a federal investigation into suspicious trades.
A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.
The state's attorney general's office said an investigation determined Kalshi's prediction market is actullay an illegal, unlicensed gambling operation.
A prediction market reported former U.S. Rep. George Santos to federal prosecutors after he boasted he'd be going to President Trump's State of the Union address, then bet against his own attendance, the Associated Press reported.
Sources told the Associated Press the prediction site Kalshi flagged suspicious activity in a market about whether the former Republican lawmaker would attend the State of the Union address in February. CBS News New York's Kristine Johnson reports.
Prediction markets are exploding in popularity, but not everyone is happy about it. On Tuesday, Arizona's attorney general charged the prediction market Kalshi with running an illegal gambling operation. Jo Ling Kent has the story.
The complaint includes 20 separate counts against Kalshi, claiming the company accepted bets from Arizona residents in violation of state law.
People looking to cash in on this weekend's monster winter storm wagered millions of dollars on snowfall totals.
This weekend's snowstorm could prove to be lucrative for some online bettors.
