8/31/26: Don Jr Defends Prediction Markets, Milo Deported, AI Hacking Spree
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What is the main topic discussed in this episode?
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Hey guys, Sagar and Crystal here.
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We need your help to build the future of independent news media, and we hope to see you at breakingpoints dot com. Returning now to the betting markets. Betting. See, I use that word importantly. That's what Calchi and Polymarket have said that they are not doing. They're offering event contracts. They're not betting, guys. Let's put this up here on the screen. Music to my ears. Prediction markets should be regulated as gambling. An appeals court now says this outcome contradicts an earlier appeals court decision. Federal regulators said that the split rulings called for. Resolution by the Supreme Court. So let me just take a step back and explain it. So the U.S. Court of Appeals for the Ninth Circuit in San Francisco rejected Calchy's request for relief against Nevada gambling laws after the state sued the company in February for quote unlicensed operations.
Remember, Calci continues to say they are not a sports betting or betting platform. They are an event contracts business. That event contracts Contracts business should be regulated solely by the CFTC, and that states, importantly, who have been given the authority to regulate gambling by both the PASSO decision by the Supreme Court, what it means is that they are able, under their purview, to regulate, let's say, casinos, they're able to regulate sports books, they're able to put taxes in place to be able to capture some of that revenue. Calci has rejected this from the get-go, saying you have. No right to regulate us whatsoever. And the CFTC under Donald Trump has gone to bat a number of times to help support the company.
Remember that in one case that the CFTC issued emergency authority, which had not been seen in years, ordering Calci to continue operating in New York State after a New York court said that they were an unlicensed, illegal gambling platform. So again, the basics of all of this is
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–7:25
2
What is the Breaking Points intro and why are Krystal and Saagar hosting this episode?
7:25–9:58
3
How does Don Jr. defend prediction‑market platforms as lawsuits pile up?
9:58–14:53
4
What did the Ninth Circuit decide about Calchi’s (Polymarket) legal status?
14:53–25:07
5
Why is the US Open partnering with Calchi and what does that mean for sports betting?
25:07–39:52
6
How are state attorneys‑general being urged to back off regulation of prediction markets?
39:52–59:19
Speakers
11 identifiedMore from Breaking Points with Krystal and Saagar
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