Prediction markets like Kalshi and Polymarket, once hailed as truth-seeking tools, face an identity crisis. While proponents see them as valuable for forecasting world events, a surge in sports betting and concerns over addiction, insider trading, and "gambling-like design" are souring public opinion and attracting regulatory scrutiny.
SkyCity Adelaide has been fined $21 million by South Australia's gambling regulator for failing to meet anti-money laundering and harm minimisation obligations. The casino must also phase out cash transactions over $4,999 and implement significant governance changes.
Malaysian police arrested 58 individuals and seized over half a million ringgit (US$124,000) in illicit proceeds during a World Cup gambling crackdown. The operation, involving multiple agencies, targets illegal football betting from June 11 to July 19, with 52 raids conducted and 42 websites/apps flagged.
Malaysian police arrested 58 individuals and confiscated over MYR 500,000 (USD 124,000) in illicit funds during a crackdown on illegal World Cup gambling. The operation, involving multiple agencies, targeted betting websites and platforms.
Rugby league coaches Billy Slater and Laurie Daley have defended referee Ashley Klein after his gambling history was revealed. Klein confirmed he lost $400,000 on horses and greyhounds seven years ago but stated it did not influence his job.
TikTok's 'Surprise Sets' feature, where users bid on items in live auctions, is facing backlash for allegedly misleading customers with high-value item lures that often result in winning cheap plushies or chargers. Following viewer complaints and WIRED's inquiry, TikTok updated its policies to ban high-value items like iPhones and gift cards from these auctions.
Bukayo Saka states he is prepared to play in England's World Cup opener against Croatia, despite an ongoing Achilles injury. He acknowledges the risk but is willing to 'gamble' with his fitness for the team.
Japan's Bitbank warns crypto users that transactions with prediction markets like Polymarket may lead to account suspension due to potential conflicts with gambling laws. The exchange cited concerns over betting on future events for financial gain.
Bitbank, a major Japanese crypto exchange, has warned users that transactions with prediction market platforms like Polymarket could lead to account suspension due to potential violations of Japan's gambling laws. The exchange stated it may restrict accounts involved in such services, citing legal and regulatory risks for Japanese residents.
Jim Penman, CEO of Jim's Group, argues in a new book that declining birthrates are linked to blunted dopamine responses caused by modern distractions like sex, drugs, and social media. He proposes that scientific interventions, including gene editing or drugs, may be necessary to restore brain sensitivity and encourage procreation.
Top NRL referee Ashley Klein has confirmed he battled a gambling addiction on horses and greyhounds, stating it never impacted his job. The NRL was aware of the situation since 2019 and investigated, finding no breaches of rules. Klein is set to officiate State of Origin II.
Tokenization is a consistent growth area in crypto, with Kraken launching tokenized SpaceX IPO access via xStocks. Prediction markets surpassed onchain gambling in Q1 2026 volume, while former FTX CEO Sam Bankman-Fried formally requested a pardon from Donald Trump.
Flutter Entertainment to delist from London Stock Exchange due to low trading and high costs, following move to New York in 2024
Calls to rehabilitation hotlines related to gambling addiction have significantly increased, with family members often being the primary callers. Treatment centers are expanding to meet demand, and support groups are using AI to manage the surge in calls, especially during late hours.
Prediction markets generated $36.6 billion in volume in Q1 2026, surpassing onchain gambling's $14 billion, according to TRM Labs. Both sectors showed resilience during a crypto market correction.
Cardinal Matteo Zuppi, President of the Italian Episcopal Conference, called for strong, clear, and common political choices to combat gambling addiction, describing it as a "terrible slavery" that affects the dignity of individuals and institutions.
South Korea's Gangwon Provincial Police Agency is investigating domestic Polymarket users for illegal gambling on election outcomes, tracing crypto transactions, with potential fines up to 10 million won ($6,500).
South Korean police investigate local Polymarket users for illegal gambling, with potential fines up to 10 million won ($6,500), amid global regulatory scrutiny of decentralized prediction markets.
Fukuoka Prefectural Police have re-arrested two men, Hayato Tada (32) and Kaito Ohira (32), on suspicion of operating an illegal gambling den. They allegedly ran a poker gambling operation in a rental apartment in Kokurakita Ward, Fukuoka, 29 times between September 2025 and May 2026, profiting tens to hundreds of thousands of yen per night. The investigation is considering links to organized crime.
Luke Ashton's widow is suing Betfair for negligence after her gambling addict husband died £18,000 in debt. The claim argues Betfair failed to intervene as his losses mounted, potentially setting a precedent for the UK gambling industry.
Sportsbet's parent company, Flutter Entertainment, has launched Sportsdream Rewards, a "rewards club" offering prizes for monthly fees, raising concerns among gambling reform advocates about circumventing strict gambling laws and self-exclusion registers.
Sportsbet's parent company, Flutter Entertainment, has launched Sportsdream Rewards, a "rewards club" that offers prize entries for a monthly fee. Critics fear this model exploits loopholes in gambling regulations, potentially targeting self-excluded gamblers and exploiting user data.
Scammers are using private domain livestreams to lure victims into "group purchase gambling stone" scams, promising high returns. In one case, 29 out of 30 participants were stooges, leading to over 5 million yuan in illegal profits. Victims are deceived with small initial gains and promises of tenfold returns, only to lose significant investments.
Russian citizens can now self-ban from gambling through state services (Gosuslugi) or MFC centers. The ban lasts at least one year and is managed by the Unified Gambling Regulator.
