Author: Maisie Morrison

TLDR Senator Elizabeth Warren will chair the Senate Banking Committee starting in January. A Warren aide said Trump family crypto businesses should preserve documents and prepare for tough questions. Prediction markets Kalshi and Polymarket are among her main targets. A soldier charged over Polymarket bets and a $172,000+ Kalshi settlement have fueled insider trading concerns. Warren’s priorities include affordability, AI, prediction markets, financial crisis risk and accountability. Senator Elizabeth Warren plans to put prediction markets and Trump family crypto businesses under the spotlight when she takes over the Senate Banking Committee in January. A Warren aide said the companies she…

TLDR Rep. Dina Titus wants the FAIR BET Act passed before Congress adjourns. The bill would restore the 100% gambling loss deduction. A 2025 law cut the deduction to 90% of losses. The bill cleared the House Ways and Means Committee 38 to 5. Democrats take control of the House in January. Gamblers who break even for the year can still owe federal tax under current law. Nevada Congresswoman Dina Titus wants Congress to change that before lawmakers leave for the year. Titus sent a letter to House Speaker Mike Johnson and Majority Leader Steve Scalise. She asked them to…

TLDR Turkish prosecutors ordered 121 suspects jailed pending trial in an illegal betting case. Police used an AI system called AVCI, meaning “hunter,” to decode slang and emojis on Telegram. AVCI flagged 306,000 potentially incriminating messages across 47 groups. A 21-year-old software developer was named as a suspected ringleader. The same tool analyzed 600,000 messages in a May probe that led to 108 arrests. Turkish prosecutors have ordered 121 suspects jailed pending trial in an illegal betting case. Police built the case with help from an artificial intelligence system that reads coded messages on Telegram. The tool helped investigators link…

TLDR Indonesia’s OJK told banks to block all active accounts linked to the same National Identity Number as frozen gambling accounts. Total bank accounts suspended over online gambling links reached 39,923. That figure rose by 1,127 accounts since early October 2026. PPATK estimated online gambling turnover at Rp86.8tn ($4.79 billion) in the first half of 2026. Internet regulators removed over 4.03 million gambling websites from late October 2024 to September 2026. Indonesian banks must now do more than freeze accounts tied to illegal online gambling. The Financial Services Authority, known as the OJK, has told lenders to automatically block other…

TLDR Onchain data links a Polymarket trader flagged by the New York Times to large matching bets on Kalshi. The trader’s wallet received about $1.98 million from Kalshi-linked wallets after the election. Some Kalshi bets on Nebraska may have been placed 10 minutes after a key poll was published. The trader held every Senate bet through Election Day and has a long record of large wagers. Two experts said the evidence fits a wealthy, risk-taking trader better than insider access. A Polymarket trader flagged for well-timed Senate bets also appears to have placed matching wagers on Kalshi, according to an…

TLDR Brazil’s Finance Ministry says it has no studies on the impact of banning sports betting and online gambling. Finance Minister Dario Durigan says the ban will reduce Selective Tax revenue in 2027. A joint committee to review the measure could be set up this week. The government rejects any change that keeps sports betting legal while banning online casinos. A final vote could slip to 2027 if Congress does not finish before the year-end recess. Brazil’s Finance Ministry says it has no studies on what a ban on sports betting and online gambling would do to the economy. The…

TLDR Bragg Gaming CEO Matevž Mazij stepped down on Nov. 6 after more than three years in the role. COO Morten Tonnesen, who joined in March 2026, is now interim CEO. Bragg shares fell 26%, from US$0.93 to US$0.69, after the announcement. Mazij lost his board seat in June after failing to win enough votes for re-election. Bragg will report its third-quarter results and outlook on Nov. 13. Shares of Bragg Gaming Group fell 26% after the company said its chief executive was stepping down. The change came one week before the Toronto-based iGaming supplier is set to report third-quarter…

TLDR The Dominican Republic named seven authorised online gambling operators and said about 81 others lack state permission. New Dominican online licences must wait until a newly created gambling council approves fees and rules. The CFTC gave US exchanges 30 days to remove geographic restrictions or explain why they cannot. The CFTC’s position challenges Sixth Circuit reasoning in a Kalshi case but does not reverse the court’s rulings. Kalshi’s response to a New Jersey Supreme Court petition is due December 7. Regulators in two countries took steps this month to set clearer limits on who can offer betting and prediction…

TLDR Kalshi’s market favorite won 479 of the first 487 midterm races that were decided. Kalshi gave Democrats a 93% to 94.5% chance of winning the House on Election Day. Election contracts on Kalshi and Polymarket drew more than $3 billion in trading volume. Sen. Jeff Merkley and Rep. Maxine Waters are preparing legislative action aimed at prediction markets. Senators Elizabeth Warren and John Curtis questioned insider trading controls before the vote. Prediction markets Kalshi and Polymarket picked the winners in almost every race of the 2026 US midterm elections. Now the party that won both chambers of Congress is…

TLDR JPMorgan downgraded DraftKings to Neutral from Overweight and cut its price target to $21 from $30. The bank removed DraftKings from its Analyst Focus List after the stock fell 21% on Friday. JPMorgan says DraftKings’ targets imply 75% core EBITDA flow-through in 2027, compared with a past rate of 30% to 40%. The bank sees risk to the planned $300 million prediction market spend in 2027, after $675 million in 2026. Analyst Daniel Politzer warned that sports prediction markets could still go away in 2028. JPMorgan downgraded DraftKings to Neutral from Overweight, citing doubts about how the sports betting…