Everything is gambling now: the latest news on prediction markets like Polymarket and Kalshi
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FanDuel’s CEO is “ousted” while investors bet on Kalshi.
Everything is gambling, but not everything in gambling is going great, as CNBC reports that on Wednesday, FanDuel CEO Amy Howe was “ousted from that post after five years at the company.” FanDuel’s stock is down 60 percent over the last year, and DraftKings shares are down 30 percent.
Meanwhile, prediction market Kalshi just announced it’s raised a $1 billion investment round at a $22 billion valuation, twice as much as it was worth in December, and claimed to project “annualized” trading volume of $178 billion.
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