(AsiaGameHub) -   Sporttrade will discontinue its online betting activities in the United States after years of attempting to establish a sports trading model within a sector dominated by conventional sportsbooks. Sporttrade will cease operations on May 25. New Jersey residents must withdraw funds by May 25, whereas users in Arizona, Colorado, Iowa, and Virginia have until June 25. The platform will go completely offline on June 26, with outstanding balances sent to the addresses on file. Sporttrade notified customers on Friday that access will be terminated across all active U.S. sports betting jurisdictions. Any remaining account balances will be mailed to customers based on the information provided in their profiles. This move brings an end to a prolonged effort to merge sports wagering with exchange-style trading. Sporttrade began operations in New Jersey in 2022, following its establishment in 2018, offering sports contracts prior to Kalshi introducing similar event contracts for the 2025 Super Bowl. CFTC Plan Ends Before Sporttrade Can Pivot Just three months prior, Sporttrade was pursuing a different trajectory. The company had filed with the Commodity Futures Trading Commission to be recognized as both a designated contract market and a derivatives clearing organization.Alex Kane, Sporttrade’s founder and CEO, expressed optimism following the filing. He stated: “Today marks the opening of an incredibly exciting chapter of the Sporttrade journey.” “The CFTC’s market-based regulatory framework enables Sporttrade to offer market participants a higher level of efficiency, transparency, and consumer protection compared to what has been available to date.” The application process, which commenced last April and spanned nearly a year, required Sporttrade to secure separate approvals for an exchange and a clearinghouse. Meanwhile, competitors in the prediction market sector enjoyed greater latitude to operate on a national scale.This disparity proved detrimental. While Kalshi and Polymarket emerged as prominent figures in prediction markets, Sporttrade remained constrained by state-by-state sports betting regulations. Although Arizona, Colorado, Iowa, New Jersey, and Virginia were active markets, the regulatory structure prevented Sporttrade from achieving the nationwide scope available to CFTC-approved operators.Additionally, Sporttrade encountered a regulatory framework that did not align perfectly. State gaming compacts were designed around standard sportsbooks rather than sports exchanges. Concurrently, the CFTC had opposed sports event contracts until President Donald Trump returned to office at the beginning of 2025.Kane previously remarked: “We had originally constructed our venue under the assumption that the sports trading vertical would follow the trajectory of most other electronic markets, moving toward efficiency and transparency powered by broker intermediation and institutional participation.” For customers, the critical dates are now set in stone. New Jersey users will lose the ability to withdraw funds after May 25. Users in Arizona, Colorado, Iowa, and Virginia have until June 25. Following this, Sporttrade will fully shut down the platform on June 26. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   Prediction market operator Kalshi has committed $2 million over two years to the National Council on Problem Gambling as retail trading in event contracts keeps growing across the U.S. Good to Know Kalshi became the first member of a new NCPG subcategory focused on responsible trading. The $2 million investment will support trader health, safety education and awareness. Sports event contracts tied to the NBA, NFL, MLB and PGA now account for as much as 90% of projected Kalshi trading volume. Kalshi will receive platinum status under the new National Council on Problem Gambling membership subcategory. The category covers financial trading products such as cryptocurrency, equities, options, futures and prediction markets, with a focus on consumer education and risk awareness. For Kalshi, the timing is important. The company gained major attention during the 2024 U.S. Presidential Election after winning a court order that allowed election prediction markets. Since then, Kalshi has added contracts tied to economics, climate, culture and sports. Prediction Market Growth Brings Trader Safety Into Focus Sports now sit near the center of the Kalshi business. Event contracts linked to major leagues including the NBA, NFL, MLB and PGA are projected to represent up to 90% of total trading volume. Annualized trading volume stands at about $178 billion.Kalshi has already added responsible trading features such as self-exclusion, deposit limits and mental health support. The NCPG deal adds a broader education layer around prediction market risks, especially as event contracts start to look more familiar to users who also know sports betting and online casino products. Heather L. Maurer, executive director of NCPG, said: “NCPG’s goal has always been to mitigate harm by increasing education, awareness, and understanding of risky behaviors, while ensuring access to trusted, scientific, and evidence-based information and healthcare resources.” “Innovation and responsibility can and must evolve together. Kalshi’s engagement demonstrates a commitment to mitigating harm before it occurs and ensuring support resources are accessible when they are needed.”NCPG, founded in 1972, works on policies, programs and resources connected to gambling harm. DraftKings and FanDuel are already members, and both brands launched prediction markets in late 2025. Tarek Mansour, co-founder and CEO of Kalshi, said: “At Kalshi, we believe in the power of prediction markets, and we are sensitive to the fact that they, like any financial trading products, come with risks.” “As prediction markets continue to evolve, we are deeply committed to setting a new standard for responsible trading by investing in the tools, education, and protections needed to promote healthy participation and customer safety, and hope that over time all trading platforms with significant retail participation follow suit.” This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   Game 7 between the Montreal Canadiens and Buffalo Sabres will decide the NHL Eastern Conference semifinals, with puck drop scheduled for 7:30 p.m. ET on ESPN. The Sabres dominated the Canadiens with an 8-3 victory at Bell Centre on Saturday, tying the series at 3-3. Montreal now faces the challenge of securing a win on the road to advance. DraftKings has Buffalo listed as a -118 home favorite, with a total set at 5.5. The moneyline handle is 61% in favor of the Sabres, while 66% of tickets are placed on them. Best Bet: OVER 5.5 (-108) Despite the typical tendency for teams to play conservatively in Game 7, these two sides have produced high-scoring contests over the last two games, combining for a total of 20 goals. Additionally, every game in the series has gone OVER 5.5 goals, except for Game 4, which ended 3-2 in Buffalo’s favor. A combined 21 goals (averaging seven per game) have been scored across the three games played in Buffalo. Buffalo’s goaltending has been inconsistent throughout the series, with the team alternating between Alex Lyon and Ukka-Pekka Luukkonen. Regardless of who starts tonight, there's a strong possibility that both could see action. Cole Caufield has regained his scoring form for Montreal, finding the net in three of the last four games. Combined with the excellent performance of linemate Nick Suzuki (3 goals, 6 points against Buffalo), there's a leaning toward a Canadiens victory in what is expected to be a high-scoring game. Pick: OVER 5.5 (-108) Best Player Prop for Montreal Canadiens Nick Suzuki OVER 0.5 Assists (-140) Nick Suzuki (pictured above) is Montreal’s primary playmaker, consistently setting up Cole Caufield and Juraj Slafkovsky in the offensive zone. These three players also form Montreal’s top power-play unit, meaning Suzuki will have ample opportunities to record an assist. Suzuki led the Canadiens with 72 assists during the regular season and recorded two assists in their Game 7 triumph over Tampa Bay in the opening round. His focus on passing makes this a favorable bet tonight. Best Player Prop for Buffalo Sabres Josh Doan OVER 0.5 Points (-115) Josh Doan has been a standout performer in the series against Montreal. He entered Game 6 riding a five-game point streak before being held scoreless. We're confident Doan will contribute again tonight. Betting on both player props along with the OVER 5.5 in a same-game parlay offers +475 odds if all three selections hit. A $10 wager would yield $47.50 in profit plus the original stake upon success. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   Thai police authorities have announced a collaboration with social media executives to develop a strategy for eliminating illegal gambling-related group chats from encrypted platforms. On May 14, representatives from the Royal Thai Police met with executives from Line Thailand. According to the Thai media outlet Top News Report, the discussions focused on methods to disrupt online gatherings related to gambling, drug trafficking, and arms smuggling. The meeting was attended by senior police cybercrime investigators, including Pol. Lt. Gen. Trairong Phiwphan, the Deputy Inspector-General of the force. Line, which is headquartered in Japan, was first introduced in 2011 by a subsidiary of the South Korean internet conglomerate Naver. The platform has gained massive adoption in Thailand, reporting between 54 and 56 million monthly active users. With more than 80% of the nation's population using Line, the company reports rapid business expansion. However, police allege that criminal organizations are utilizing Line's open chat rooms to attract bettors to unlawful gambling sites, launder money, and coordinate scams linked to gambling. Thai Police: Gambling Chat Rooms Must Go Similar to Telegram, Line provides open chat rooms with features that protect user anonymity, serving various community interests. Law enforcement states that offenders have misused these capabilities. While competitors like Telegram present greater legal challenges because they lack a physical base in Thailand, this does not apply to Line's parent company, LY Corporation. The company's significant presence in Thailand prompted it to set up a local subsidiary in Bangkok. At the meeting, police and Line management committed to enhancing their collaborative work "by mid-year." They also concurred that Line would intensify actions against Thai-language groups involved in promoting investment fraud and distributing pornographic content. A Royal Thai Police vehicle. (Image: Manrat Thiusthas [CC BY-SA 4.0]) The Royal Thai Police further requested that the social media company suspend accounts operated by crime syndicates that establish chat rooms for trading weapons and drugs. The leaders of Line Thailand pledged their "full cooperation" and indicated they would utilize backing from LY Corporation in Japan. Officials stated plans to improve current systems for requesting data blocks, allowing for broader, quicker, and more effective account shutdowns. They noted that the upgraded system is scheduled to be operational "by mid-2026." Raid Takes Down Online Casino AM 08 In other parts of Thailand, the Royal Thai Police are maintaining their campaign against illicit online casino businesses. Their most recent operations resulted in the shutdown of a well-known Thai-language casino site called AM 08, as reported by the Thai media outlet Bangkok Insight. Police in Ranong Province reported arresting a 24-year-old individual during a raid in the Mueang District. Authorities confirmed the confiscation of cash, computers, and mobile phones from the location, identified as a private residence. Pol. Lt. Gen. Surapol Prembutr, Commander of the Cybercrime Investigation Bureau, stated that the AM 08 platform launched more than two years ago. Officials report that the site handled wagers from approximately 36,000 users. It is also accused of operating illegal lottery draws and providing slot machines, baccarat, and sports betting. In late last month, the Thai Department of Special Investigation froze funds totaling $15.3 million across multiple bank accounts. The department asserted that the money was connected to a laundering operation serving a large online gambling network. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   With less than a month remaining before the South Korean elections, gambling has emerged as a central issue, with candidates exchanging accusations and the President offering commentary on the matter. Earlier this month, election campaigning in South Jeolla Province and Gwangju turned into a verbal battle centered around gambling. During a televised debate, a candidate accused Kim Dae-jung, the incumbent superintendent of the province, of “hanging around near a gambling den” during a business trip. Since then, Kim admitted to visiting a casino at the hotel where he was staying for a work event but denied that he gambled there. His rivals have described his explanation as “illogical.” Meanwhile, Kim’s representatives claim his opponents are conducting a “smear campaign” ahead of the June 3 vote. An election commission building in Gwangju, the largest city in South Jeolla Province. (Image: NZ Tokideul [CC BY-SA 4.0]) South Korean Elections: Casino Allegations Continue As the election approaches, one leading contender has demanded a public investigation. The rival, Lee Jeong-seon, urged Kim to “clarify the allegations” through a “joint fact-finding investigation.” “We call on Kim to step forward and publicly discuss this issue in a debate,” said a spokesperson for Lee Jeong-seon’s campaign, according to the South Korean news outlet News1. “If Kim has nothing to hide, there is no reason to avoid it. If he refuses or evades our request, we will view it as an attempt to conceal the allegations.” Kim’s camp responded with a statement rejecting the claims. “[My rivals] keep portraying me as someone who illegally gambles,” the superintendent said. “As I previously stated, I recall going to a hotel casino, but I did not engage in illegal gambling. In fact, I can’t even play go-stop [a popular low-stakes Korean card game].” Kim’s spokespeople asked his opponents to stop “repeatedly raising doubts” and instead “present evidence.” “If they cannot provide any proof, they should issue an apology,” said Kim. Gambling Convicts Named Controversies involving gambling are not limited to the race for education superintendent in South Jeolla Province and Gwangju. In other parts of the country, media outlets have been investigating reports revealing that numerous convicted individuals are running for office on June 3—including several with histories of habitual gambling. While the original report did not name any specific candidates, MBC, South Korea’s national broadcaster, has identified many of them in a recent segment. Among those named is Choi Eun-sik, a candidate for the Okcheon County Council and a member of the main opposition People Power Party. Choi is reportedly convicted of two gambling offenses, along with charges related to drunk driving, operating a vehicle without a license, and assault. Meanwhile, the People Power Party’s Chungju City Council candidate, Shim Jae-ik, is said to have seven criminal convictions, including one for gambling. Chungju City Hall, located in Chungju, South Korea. (Image: hyolee2 [CC BY-SA 4.0]) Another candidate named with a prior gambling conviction is the People Power Party nominee Lee Jae-myung in Jincheon. President Issues Another Gambling Warning Although President Lee Jae-myung avoided directly commenting on candidates’ gambling-related convictions or casino allegations, he made gambling-related remarks in a recent social media post. “Illegal lending and gambling are signs of national decline,” the President wrote, as reported by the South Korean newspaper Seoul Kyungjae. The comments echo the President’s earlier warnings from late last year, when he cautioned that increased gambling could “lead to the downfall” of the nation. Politicians in South Korea must carefully navigate issues surrounding gambling regulation. The country generates substantial tax revenue from casinos, particularly in tourist destinations like Jeju Island. Jeju-based casino operator Lotte Tour Development recently reported record quarterly earnings amid growing foreign tourism on the island. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   Gambling firms are pouring significant funds into political campaigns in Alabama in an effort to ease the state’s stringent anti-gambling regulations. However, their spending methods are causing confusion and frustration among lawmakers. DraftKings, FanDuel, and Fanatics have channeled no less than $42 million into super PACs that fund political campaigns nationwide. A substantial share of these funds has been directed to the American Conservative Fund, which is utilizing the money to distribute a wave of mailers throughout Alabama. Candidate Disavows Link to Godfather-Themed Campaign One candidate who appears to be supported by the PAC is Senator Garlan Gudger. Alabama residents might now view him as the Godfather due to a flyer from the American Conservative Fund. American Conservative Fund flyer featuring Garlan Gudger Gudger, though, states he had not seen the flyer prior to its distribution in mailboxes across the state. “This is from a super PAC from up north,” Gudger stated in a video shared on Facebook. “We have nothing to do with them and just wanted everyone to know that, as there are many questions circulating online.” Gudger was uncertain whether the campaign was an endorsement or intended to harm his electoral prospects. He noted that he saw the Godfather portrayal as a “negative spin, aimed more at damaging me than anything else in this race.” Last year, the Senate leader halted discussions about legalizing gambling in Alabama, arguing it was a distraction for lawmakers because of a lack of agreement. “Whenever you’re having a discussion, once this topic arises, everyone begins to use what they need or want from this specific bill to influence other issues they’re addressing,” Gudger told an interviewer. “And that’s really not right.” Are Direct Mail Services Winning Over Voters? A portion of the American Conservative Fund’s funds goes to Leading Pointe Strategy, a Georgia-based organization established by Tom Willis. Willis also holds the position of Senior Vice President at Arena Wins, which bills itself as “The Most Trusted Republican Advertising Agency in America.” The company’s website highlights its innovative mail design, which it asserts has “helped Republicans win hearts and minds in all 50 states.” Every flyer—such as the one depicting Gudger as the Godfather—includes a disclaimer that it is not approved by the candidate. It’s unknown if the group created the Gudger flyer, which only notes it was funded by the American Conservative Fund. Funding Campaigns on Both Political Sides Although most of Win for America’s funds are directed to the American Conservative Fund (which says it supports Republicans), some money is also allocated to American Future, a super PAC launched by DraftKings in 2023. American Future’s website states that it “is committed to electing strong, bold Democrats to state legislatures nationwide who will advocate for our future.” Funds from the gambling companies pass through the PACs to different strategy groups. It’s uncertain if these groups know that the money supporting them is also funding competing strategy groups that promote Republican candidates. Gaming America mapped out the flow of funds from the three major betting companies, illustrating which groups are receiving the money. Beyond Alabama, a significant portion of the funds is also financing political campaigns in Pennsylvania, Texas, and Georgia. Lawmakers Demand Action on Gambling Interest Groups A separate group of Alabama lawmakers has demanded “immediate action and greater public scrutiny regarding serious campaign finance concerns tied to gambling interests and political action committees active in Alabama.” Nine organizations co-signed a letter sent to Attorney General Steve Marshall and Secretary of State Wes Allan. The letter doesn’t directly name gambling groups as a concern, but references “allegations involving large financial contributions, intricate funding structures, and possible non-compliance with Alabama’s campaign finance disclosure rules.” Coalition leaders clarified their concerns in a press release, saying, “We know from other states that gambling money often brings corruption, undue political influence, and weakened public trust.” “The Alabama Constitution prohibits games of chance, yet we are witnessing unprecedented amounts of gambling-related money flowing into legislative races. Citizens should be deeply concerned about what this could mean for the future of our state.” Alabama has taken steps against companies trying to offer gambling services in the state. Sweepstakes casino operators are currently facing 21 lawsuits in Alabama, as residents seek to recoup losses incurred on these platforms. Although many Alabamians hold strong anti-gambling opinions, the coalition emphasized that “regardless of where citizens stand on specific gambling policy, all Alabamians should agree that lawlessness should not be tolerated; public transparency and compliance with campaign finance laws are essential to a free and fair election process.” Even when residents can trace the source of the funds, it’s still unclear why gambling companies are supporting both political sides and running campaigns that candidates are disavowing. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. 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(AsiaGameHub) -   The National Football League (NFL) has urged the commodities regulator to require prediction market providers to prohibit contracts on events that are “easily manipulable” by a single individual. Examples include first pass and field goal completion. The league submitted its request in a letter to the Commodities and Futures Trading Commission (CFTC) Chairman Michael Selig, as reported by CNBC. Written by Brendon Plack, the NFL’s head of government affairs and public policy, the letter also calls for the regulator to raise the legal betting age from 18 to 21 and ban margin trading. NFL’s Regulatory Requests Sports event contracts that are “not fully collateralized” risk “exacerbating addictive behavior and increasing loss exposure,” according to Plack. The league wants the CFTC to mandate that providers block contracts on events that are “knowable in advance.” Examples of such events include the outcome of the first play of a game. Plack also requested that Selig ban “inherently objectionable” contracts involving events like player injuries. The NFL raised several concerns about potential match-fixing and insider trading. The league seeks a special certification process from the regulator for individual player performance-related prediction contracts. Key Points of Contention The NFL wants prediction markets to follow many of the standards, rules, and guidelines applied to traditional sports betting operations. This stance may provoke disagreement with Selig, who has consistently maintained that prediction market platforms and sportsbooks are “two separate things.” “What you’re seeing is markets versus entertainment… They are different models,” Selig told Axios earlier this month. “The conventional sportsbooks and casinos are entertainment,” he added. Selig stated that the CFTC will regulate prediction markets “as financial markets, not as entertainment.” Throughout the letter, Plack reportedly cited multiple references to state-level gambling regulations. The mention of states could be contentious, as the CFTC is currently engaged in legal disputes with states that have tried to take control of regulating prediction markets. Spectators watch an NFL game at the MetLife Stadium in New Jersey. (Image: Myron Mott) While the issue involving states may be sensitive, the NFL and Selig may find common ground on concerns about insider trading. Earlier this month, the CFTC announced it was consulting with “all professional sports leagues” on measures to prevent insider trading. In his letter, Plack recommended that the National Futures Association—the U.S. derivatives regulator—establish data-sharing agreements with state gaming regulatory bodies. This, said the NFL executive, could strengthen enforcement tools to restrict certain individuals from participating in prediction markets. Such individuals should include NFL league employees, according to Plack. The CFTC recently finalized a memorandum of understanding with MLB, aiming to identify suspicious trading activity on prediction market platforms. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   The NCAA has confirmed that former Abilene Christian men's basketball student-athlete Airion Simmons has been banned for life. Simmons allegedly agreed to fix at least two games while playing for the college in March 2024. In a press release, the NCAA revealed that the now 25-year-old accepted a $3,500 bribe to "play bad" in a game against Tarleton State. He allegedly recruited other players to ensure Abilene Christian did not win. The NCAA says he received the cash in a Dallas parking lot but did not pay the teammates with whom he conspired. Simmons Named in Federal Indictment Simmons was one of several college basketball players named in a federal indictment in January. He first agreed to fix a game on March 19 against Texas A&M. However, despite his efforts to underperform, the team won. The scheme was allegedly led by former Chicago Bulls player Antonio Blakeney, Marves Fairley, and Shane Hennen. Both Fairley and Hennen have also been named in the NBA betting scandal that includes Chauncey Billups, Damon Jones, and Terry Rozier. The bettors wagered $82,000 on Texas A&M to beat Abilene Christian, according to the indictment. After the bets were lost, the fixers said that they should have recruited more players. Simmons, along with another unnamed player, agreed to fix the next game against Tarleton State. Bettors wagered $40,000 on Tarleton State to cover first- and full-game point spreads. In this instance, the bets won, with Simmons scoring zero points. Gamblers Continue to Post Picks Online Despite being named in two federal indictments for their attempts to fix NBA and NCAA basketball matches, both Fairley and Hennen continue to post gambling tips online. On his Instagram account, Hennen advertises his tipping service, which charges for gambling picks. Shane Hennen promotes his NBA tips on Instagram @sugarshanewins He has not publicly posted any picks recently, but in October last year boasted of a 12-2 winning record from his previous 14 tips. During February and March 2024, prosecutors claim Hennen and his co-conspirators attempted to fix at least 21 games. Of these, the bettors won 13 times but lost money on the other eight matches. Fellow Tipster Promotes Must-Win Picks In addition to Hennen, Fairley continues to promote picks for his subscription service, Vezino Locks. He sells daily "locks" for $60 and recently claimed an 11-4 winning record. Marves Fairley promotes his tipping service on Instagram @vezino_locks As part of the NCAA’s investigation, Simmons said he had contact with two known bettors. The NCAA does not say whether they are Hennen or Fairley. Simmons is facing charges of conspiracy to commit wire fraud and bribery in sporting contests. If convicted, he faces up to 25 years in federal prison. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.

(AsiaGameHub) -   DraftKings co-founder Matt Kalish sharply criticized Kalshi in a series of social media posts on X. In his rant, he dismissed the prediction market platform as a niche offering and questioned whether it could ever compete with major sportsbooks. Kalish left DraftKings earlier this year after co-founding the company alongside CEO Jason Robins and President Paul Liberman. “I’m retired from operating in gambling, just posting content because I know ball and can say s*** way more clearly than ppl have been willing to do,” he wrote in a thread on X. Casual Users Get Crushed by Pros on Kalshi One key criticism Kalish directed at the operator was its heavy focus on marketing aimed at casual users, whom he claims are “decimated by market-makers and pro gamblers, losing 97% in sports markets.” DraftKings has faced similar allegations that it exploits gamblers through aggressive marketing and VIP hosts. The company is currently defending against multiple lawsuits over these practices. The company and rival sportsbook FanDuel have both publicly discussed their interest in using prediction markets as enhanced trading opportunities, positioning themselves as market makers. Kalish acknowledged that “to some I’m the wrong messenger for this.” Still, he wanted to make clear that he views Kalshi as a niche product catering only to those who are already profiting from trading on the exchange. I haven’t heard the 99% of normal mass market sports gamblers who play for fun say they think exchanges are fun or say much other than express confusion. Because the product isn’t there yet.— Matt Kalish (@mattkalish) May 17, 2026 A survey conducted earlier this year found that most bettors prefer DraftKings Sportsbook over Kalshiin states where both legal sports betting and prediction markets are available. Kalshi, however, was preferred over FanDuel and has grown rapidly in popularity since expanding into sports markets. Prediction Markets Still Offer a Subpar Experience Kalish argued that Kalshi’s product remains far from delivering the same experience as a well-developed sportsbook app. “Everyone everywhere needs to chill the f*** out,” Kalish said. “The products or experiences that finally gets anywhere close to a reasonable sports betting experience will be developed over time. For now let’s just keep it a buck, the only people who are hyping these are those making money from it TODAY or scared they made a dumb investment and rationalizing.” He claimed that ordinary users lack understanding of the micro mechanics behind prediction markets and find the overall experience confusing. This creates openings for professionals to exploit casual participants and generate profits. A user responded by citing the UK example of Betfair, which was once seen as a precursor to U.S. prediction markets. But even Betfair failed to break into the casual betting segment, which “wants a fixed price and a big green button, not a limit order book.” Kalish admitted he uses Kalshi himself but pointed out its limitations—including hidden fees and the absence of bonuses and rewards commonly offered by sportsbooks. “For our customers that are in sportsbook jurisdictions, they prefer to still do business with a sportsbook. We’ve done a lot of surveys. We know that we are able to give them promotions and offers, and it’s a more engaging experience overall,” said fellow co-founder Liberman recently. Limited Liquidity Restricts Trading Opportunities One supposed benefit of prediction markets is the ability to trade out and lock in gains as odds shift. However, Kalish noted that limited liquidity often makes this impossible. He shared personal examples where he couldn’t trade out profitably, including one on Brooks Koepka to win the PGA Championship. Although Koepka started strong during the tournament—making a sportsbook bet look favorable—Kalish said he could only exit at a fraction of the original price due to insufficient market depth. The risk is that many companies launching their own platforms may deliberately maintain low liquidity so users spread their wagers across multiple operators. This isn’t an issue at traditional sportsbooks, where the house typically accepts all bets—though it doesn’t always allow traders to cash out mid-game. Sportsbooks Also Limit Winners Other users quickly pointed out that sportsbooks routinely restrict accounts of winning customers. Those attempting arbitrage betting—placing wagers on all possible outcomes to guarantee profit—often find their accounts suddenly limited or closed. Kalish replied that DraftKings still exposes itself to far greater risk than market makers operating on prediction exchanges. “The amount risk management will (wall) street market makers do in an exchange is massive. MM (market-makers) have infinite cash to invest but choose to only make a few billion a month available as exchange liquidity which is why s*** is razor thin and you get 60% breakage on $1000. Meanwhile DK/FD (DraftKings/FanDuel) booked $2.5 trillion of risk last year each (approx) its order of magnitudes more limiting (factors of several hundred times more liquidity in a top sportsbook vs entire exchange market),” Kalish explained. This argument doesn’t fully address concerns about sportsbooks restricting profitable players. Some states have begun cracking down on the practice; Massachusetts now requires operators to inform bettors when limits are applied. As Kalish himself stated, he has now exited the sports betting industry entirely. He now leads a content creator agency. His X thread has garnered over 200,000 views. He concluded his critique of Kalshi with: “Please god everyone put your megaphones the f*** away and build a real mainstream appeal product and until then shut the f*** up you are niche. Thank you.” This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.