Prediction markets soar ahead of 2026 Super Bowl
CBSN
Sunday's Super Bowl is expected to see a record $1.76 billion wagered with sportsbooks. Emboldened by loosened restrictions from federal regulators, a newer form of betting — prediction markets — will also be looking to cash in on the night. In:
Sunday's Super Bowl is expected to see a record $1.76 billion wagered with sportsbooks. Emboldened by loosened restrictions from federal regulators, a newer form of betting — prediction markets — will also be looking to cash in on the night.
Prediction markets have emerged in recent years as a platform to place "investments" on the answers to a dizzying array of unknowns — including wagers on outcomes relating to Sunday's big game.
Two of the largest prediction markets, Kalshi and Polymarket, once were targets of federal enforcement actions under the Biden administration. But a decision last week from the Commodities Futures Trading Commission, an obscure federal agency that oversees the burgeoning field, could give them a chance at a major payout come Sunday.
In a statement last week, agency chair Michael Selig announced the commission will move away from its 2024 rule proposal which sought to prohibit political and sports-related contracts. Instead, he said the agency would draft "clear rules and a clear understanding that the [federal government] supports lawful innovation in these markets."
The decision reflects the Trump administration's push to lift restrictions on alternative forms of currency and investment. Critics have noted that the two leading prediction market companies appointed the president's son, Donald Trump Jr., to formal advisory roles on their boards of directors.
The U.S. Secret Service is investigating after a vehicle crashed into a barricade near the White House early Wednesday, according to the federal agency and police in Washington, D.C. Sara Cook contributed to this report. In:
Latino voters helped propel record turnout in last week's Texas primaries — with most voting in the Democratic contest — a trend Democrats are watching closely as they try to reclaim ground with the group and pull off an upset win in the red-leaning state's Senate contest. Olivia Rinaldi contributed to this report.
The latest lava fountaining episode of an erupting Hawaii volcano reached 1,000 feet high Tuesday, prompting temporary closures at a national park and part of an important highway because of falling glassy volcanic fragments, including ash. In:
In recent years, local small-boat fishers who pursue prized bottomfish such as ehu, onaga and the red opakapaka that's popular on table spreads across Hawaii each New Year's have seen a troubling spike in sharks that swoop in and tear their catch off the hook. In:
An accountant who worked closely with Jeffrey Epstein for more than a decade and became an executor of Epstein's estate after his death will be questioned behind closed doors Wednesday by the House Oversight Committee. Cara Tabachnick and Daniel Ruetenik contributed to this report.
"I was fighting to survive": Patients still struggle with preauthorization despite promise of reform
Sheldon Ekirch is used to being disappointed by her health insurance company. In:
A large tornado south of Chicago downed trees and power lines Tuesday and overwhelmed the 911 center with emergency calls, according to officials, while a second suspected tornado also caused significant damage in northwest Indiana. In:
Bam Adebayo scored 83 points, the second-best scoring effort in NBA history, to carry the Miami Heat to a 150-129 win over the Washington Wizards on Tuesday night. In:
A police officer and former police officer who sued and sought a court order to hang the plaque honoring members of law enforcement who defended the U.S. Capitol during the Jan. 6, 2021, riot have asked a judge to allow their civil lawsuit to proceed. In:
Washington — Unscheduled absences among airport security officers have more than doubled during the ongoing Department of Homeland Security shutdown, with more than 300 employees leaving the agency since the start of the DHS shutdown, according to internal TSA statistics obtained exclusively by CBS News. Seiji Yamashita, Kris Van Cleave and Sarah Ploss contributed to this report. In:
President Trump is weighing several options to lower oil prices, which have surged about 20% since the U.S. war with Iran began on Feb. 28, driving up fuel costs higher across the country. But his options for reining in energy costs are limited, especially if the conflict continues for months, experts said. Edited by Alain Sherter In:
Washington — Iran may be getting ready to deploy naval mines in the Strait of Hormuz in an effort to further disrupt the key shipping lane, U.S. officials told CBS News. In:
Washington — Senate Majority Leader John Thune made clear Tuesday that an elections bill known as the SAVE America Act faces an unlikely path to passage, reiterating his skepticism about the bill's chances as President Trump threatens a legislative blockade until Congress approves the measure. Grace Kazarian contributed to this report.