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Sahil Patel, founder of competitive intelligence provider Aldrin AI, said those relationships help explain Kalshi’s position.
“A lot of market makers want to go where there’s liquidity,” he said, adding that platform stability and Kalshi’s investment in the financial side of its market-maker relationships were also important. “I think Kalshi is a freight train that’s just kind of running away with it.”
Aldrin monitors product changes, advertising, social media activity, app-store rankings and trading volume across prediction market operators. Patel said the objective is to connect those indicators and show how a product launch supported by advertising affects volume and market share.
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Since the Supreme Court’s PASPA decision in 2018, there has been an uptick on harassment against athletes from bettors. The collection of incidents, in the view of the industry, is typically construed as both troubling and prevalent. Against a backdrop of alarming threats in numerous sports, perhaps the most disconcerting occurred at the hands of Benjamin “Parlay” Patz, a California bettor.
Approximately 15 months after the high court’s ruling, Patz sent a series of explicit messages to four members of MLB’s Tampa Bay Rays, threatening to “sever” their necks open. Accused by federal investigators of targeting more than 300 accounts of pro and college athletes, Patz pleaded guilty in 2021 to transmitting threats in interstate or foreign commerce. Although a judge ordered Patz to undergo mental health treatment and abstain from gambling, he did not sentence the bettor to prison.
Years later, former Senate Judiciary Committee Chairman Dick Durbin convened a sports betting hearing in December 2024, the first federal hearing held on the subject in six years. Durbin, an Illinois Democrat, opened the hearing with an anecdote from March Madness the prior season. Despite recording a double-double in a win over Michigan State, former North Carolina center Armando Bacot received more than 100 threats on social media, Durbin told the committee. Bacot, who finished with 18 points and seven rebounds, drew the ire of bettors for missing the “over” on his rebound total.
What is Chess - Play and Learn Online 4.7 star?
On Monday, the Department for Digital, Culture, Media and Sport (DCMS) announced that Ruth Evans has succeeded Charles Counsell to take on the full time role of Gambling Commission chair.
Counsell took the helm in February 2025 following Marcus Boyle’s departure in January last year.
Evans, who chairs Stop Scams UK, an initiative she founded in 2019 to unite banks, technology companies and telecom providers to combat payment fraud, will assume the position on 30 September, commencing a five-year term.