Cannonball Riches

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While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.

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Yahoo—which is 90% owned by private equity giant Apollo Global Management, the firm that acquired operating control of The Venetian in Las Vegas—did not elaborate on why the Polymarket integration ended.

Yahoo Finance is one of the most visited financial news websites in the world, implying it’s a blow to Polymarket that its prediction market hub was pulled, but the operator has other prominent financial media deals.

Prior to announcing the Yahoo Finance accord last November, Polymarket and one of its rivals unveiled deals with Google Finance.

About Cannonball Riches

Despite these measures, the ASA found that the character’s age was not credibly verified. The prompts used to generate the AI image did not explicitly require the character to appear aged 25 or over. Without an independent verification process, the regulator determined the character still “seemed to be under 25”.

The ASA’s ruling directed both Dribble Media and Limay Media to ensure the offending advertisement would not be redisplayed in the same form.

This is Midnite’s third ASA ruling this year. Last month, the operator came under scrutiny for an ad that suggested that “gambling was an escape from personal problems”. The ASA received 125 complaints on the offending ad and the company was ordered to remove the advertisement.