Zaid Admani

Their stock is up around 5% today and up about 15% since the war with Iran started back on February 28th.

Let's shift gears and talk about prediction markets.

You know, prediction markets have become really popular over the last year or so, but they're starting to get some backlash, especially when it comes to sports betting.

See, these prediction market platforms like Calci and PolyMarket allow users to trade events contracts, and these platforms started off by letting people trade on who will win an election or what the Fed might do when it comes to interest rates.

But lately, these platforms have all become a pseudo sports betting platform.

Based on recent data, over 90% of the trading on Kalshi is sports related.

The thing is, these prediction markets are regulated by the Commodities Future Trading Commission, the CFTC.

So since they're regulated by the

federal government that allows calci and polymarket to allow sports betting in states where it's not allowed under state law like texas and california and that has made some states really furious for example nevada got a temporary restraining order against calci just last week arizona went even further and filed criminal charges against calci's parent company for operating an illegal gambling business without a license and massachusetts and michigan have also sued the company

And now the Senate is getting involved.

They're planning to introduce a bill that would ban prediction market platforms like Kalshi and Polymarket from offering sports betting in casino-style games.

Now, Kalshi is fired back.

They're saying that banning sports betting on regulated prediction markets would just push the activity offshore where there's zero oversight.

They also said the bill is motivated by casino interests that feel threatened by competition.

The DraftKings stock did get a 5% pop this morning after this report about the Senate bill came out.

Now, personally, I like prediction markets, especially to get economic data, like what the market thinks interest rates will be by the end of the year.

But I don't like the fact that sports betting is mixed in with it.

I feel like the sports betting stuff should be a separate platform altogether.

Let's talk about some stocks making moves today.

Airline stocks are a big winner today following President Trump pausing airstrikes on Iran.