Gen Z Turns to High-Risk Gambling as Economic Outlook Worsens, Survey Shows
A recent study indicates that a larger proportion of Gen Z individuals are turning to gambling in pursuit of financial goals, including saving for retirement, compared to other age groups. According to research by Betterment, which was released on Tuesday, 26% of those in Gen Z—people born between 1997 and 2012—see sports betting as a […]
Former NBA Players Malik Beasley and Ed Davis Face Charges in Federal Gambling Case
Indictment in Federal Gambling Case Involves Former NBA Players On Monday, four individuals, including ex-NBA players Malik Beasley and Ed Davis, were indicted in a federal gambling investigation. Beasley’s attorney remarked, “An indictment is not proof or evidence of guilt; it merely indicates probable cause.” He added that despite the year-and-a-half-long investigation, they firmly believe […]
Judge acknowledges she’s ‘gambling’ on Cambridge rampage suspect Tyler Brown after giving him a lenient punishment.
A judge in Massachusetts reflected on her decision to sentence Tyler Brown, a violent suspect from Cambridge, for an earlier attempt to kill a Boston police officer. Judge Janet Saunders explained she was aware she was “taking a chance” when she imposed a five to six-year prison term in 2021, despite warnings, including a victim […]
Dana White Reaches Out to President Trump for Help on Eliminating Gambling Tax Clause
UFC President Dana White Appeals to Trump on Gambling Tax Limit Dana White, the President of UFC, reached out to President Donald Trump in a letter, urging him to convince Congress to revisit the One Big Beautiful Bill Act (OBBBA). This legislation restricts gambling loss deductions to just 90%. White expressed his concern that the […]
Senate prohibits senators and staff from gambling on Kalshi, Polymarket
Senators Banned from Using Insider Information for Prediction Markets The Senate has taken a significant step by passing a bill that prohibits senators and their staff from participating in prediction markets like Calci and Polymarket. This decision came right before a week-long break from Washington, D.C. These prediction platforms allow individuals to wager on various […]
Soldier in Special Forces Charged with Gambling on Maduro Raid Enters Not Guilty Plea
U.S. Army Sergeant Major Pleads Not Guilty to Gambling Charges A U.S. Army special forces member involved in the capture of former Venezuelan leader Nicolas Maduro entered a not guilty plea on Tuesday regarding allegations that he earned over $400,000 from a bet connected to the operation. Sergeant Major Gannon Ken Van Dyke, 38, allegedly […]
Gambling Addiction Has Entered the Realm of Kidnapping and Murder
Prediction market gambling has expanded into troubling areas, including incidents of kidnapping and murder, and now, a U.S. Special Forces soldier is facing insider trading charges. On Thursday, federal law enforcement arrested Gannon Ken Van Dyke, suspected of utilizing classified information to wager on the potential ousting of Venezuelan President Nicolas Maduro during a military […]
Gambling Is Making America a Constant Sports Betting Hub
Super Bowl and the Rise of Prediction Markets The Super Bowl is just around the corner, and that usually means a time for excitement, socializing, and enjoying ourselves. But, on the flip side, there’s the growing presence of gambling, especially with prediction markets like Karshi and Polymarket becoming more popular. A landmark 2018 Supreme Court […]
First Prison Term Issued for NBA Betting Scandal as Self-Declared Gambling Addict Receives Two Years
Gambler Sentenced in NBA Betting Scandal Timothy McCormack, who describes himself as a gambling addict, received a two-year federal prison sentence on Wednesday. This is part of a significant conspiracy case involving NBA players Terry Rozier and Jontay Porter. In a Brooklyn federal court, the judge handed down the sentence for McCormack’s involvement in defrauding […]
Illinois Experiences 15% Drop in Sports Betting Due to High Tax Impacting Gambling Community
Decline in Sports Betting in Illinois Following Tax Changes Recent data from the Illinois Gaming Commission indicates a significant drop in sports betting activity within the state. After the introduction of a new tax system in September 2024, the first 20 million bets placed by each sportsbook are taxed at $0.25 per bet, with the […]