Reading up on gambling
8 deep · digging since jan 12
- How DraftKings Uses A.I. to Target the Gamblers Likeliest to Lose
DraftKings uses data science to identify and incentivize gamblers most likely to lose money, while declining to employ similar AI for addiction protection.
- U.S. Is Said to Be Investigating George Santos Over Kalshi Betting
Federal investigators are probing former Congressman George Santos for betting on his own State of the Union attendance through Kalshi.
- The Average Guys Outsmarting Wall Street on Prediction Markets
Retail prediction-market traders—'sharps'—have earned millions betting on events like elections and movie scores, often beating institutional forecasts.
- Why Almost Everyone Loses—Except a Few Sharks—on Prediction Markets - WSJ
A WSJ analysis finds a small number of algorithmic traders capture most winnings on Polymarket and Kalshi, while typical users lose money.
- Are Prediction Markets Good for Anything?—Asterisk
Despite billions in volume, Polymarket and Kalshi prediction markets produce useful forecasts mainly on high-profile risks, while AI chatbots may soon replace them as the primary source of probabilistic information.
- We haven't seen the worst of what gambling and prediction markets will do
Prediction markets are crypto-anarchist tools that financially incentivize harm, enable insider manipulation, and will grow worse as they tokenize real-world assets.
- Prediction markets are ushering in a world in which news becomes about gambling
Prediction markets like Polymarket incentivize manipulation and gambling on news events, risking public trust by merging information with financial speculation.
- Show HN: Website that plays the lottery every second
Playing the Powerball every second would take 4.6 years on average to win the jackpot, demonstrating the lottery's absurdly low odds.