Kalshi and Polymarket moved more sports money in a single month this spring than every legal U.S. sportsbook combined handled monthly all of last year. $24 billion in April. Against roughly $14 billion a month wagered at licensed books in 2025. That gap has only widened since: $44.8 billion combined in June, then north ofContinue reading “Prediction Markets Just Lapped the Entire Legal Sportsbook Industry, and Regulators Are Still Fighting Over Who Gets to Stop Them”
Tag Archives: Polymarket
Polymarket: Someone Lost $8.6 Million on a Belgium Draw and the Industry Doesn’t Want You Connecting the Dots
A trader on Polymarket went by “leeeroyjenkins.” He staked $8.6 million on Belgium to beat Egypt in the 2026 World Cup group stage. A win would have paid out $13.1 million. Belgium drew 1-1. Win-only contract. Zero payout. The full $8.6 million gone. Dark humor Twitter did its thing — “should’ve bet the draw,” etc.Continue reading “Polymarket: Someone Lost $8.6 Million on a Belgium Draw and the Industry Doesn’t Want You Connecting the Dots”
MLS Banned Two Players for Betting on Games While Cashing MGM’s Checks
The league that has a multi-year partnership with BetMGM — with MGM Resorts signage on over 100 nationally broadcast matches — just handed out two lifetime bans to players who did essentially the same thing MLS does: profit from gambling on MLS games. The difference is that Derrick Jones and Yaw Yeboah didn’t have aContinue reading “MLS Banned Two Players for Betting on Games While Cashing MGM’s Checks”
Prediction Markets Want to Eat Sportsbooks’ Lunch — And They Might Actually Do It
The day Kalshi launched Combos — its parlay product — DraftKings stock dropped 12% in a single session. Two and a half billion dollars in market cap, gone. Not because Kalshi had that many users. Because Wall Street finally believed the threat was real. This is the most important fight in American gambling since aContinue reading “Prediction Markets Want to Eat Sportsbooks’ Lunch — And They Might Actually Do It”
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