Dan Bernstein

Assistant Editor @sportico | DMs are open for tips (or reach me on Signal at danbernstein.33) | It all started @thedbk

[Dan Bernstein @dan_bernstein_]

EXCLUSIVE: Kalshi retail bettors have lost more than $100 million on parlays this year.

Feature story here: https://t.co/oVGs2SesM3

[Dan Bernstein @dan_bernstein_]

@alexursa I don't, sorry

[Dan Bernstein @dan_bernstein_]

Underdog will be fully integrated with the prediction market exchange it bought by the start of NFL season, according to a Bank of America report, including the presence of an affiliated trading arm.

Transitioning from Crypto(.)com-owned exchange.

[Dan Bernstein @dan_bernstein_]

The report also seeks to quantify the prediction market pecking order outside of Kalshi and Kalshi's broker partners. It says Underdog has a 37% market share among that group.

[Dan Bernstein @dan_bernstein_]

Polymarket's operators in Panama are going to emerge to save the day any minute now. They're right here, just outside the frame.

[Emily Nicolle @emilyjnicolle]

Strategy says it sold Bitcoin in May. over on Polymarket, you’ll get a different answer https://t.co/iC3URAYI2z

[Dan Bernstein @dan_bernstein_]

@probaaron @Kalshi @Novig Kalshi said it reached out to The Jeffrey with the idea

[Dan Bernstein @dan_bernstein_]

Polymarket U.S. is loosening its rules around betting with deposits not yet fully processed, per a CFTC filing.

[Gaeten Dugas @GaetenD]

Didn’t realize I called this out in real time.

[Dan Bernstein @dan_bernstein_]

We're on the precipice of "if we weren't offering George Santos attend the State of the Union bets, consumers would just be pushed to dangerous offshore sites."

[Bobby Allyn @BobbyAllyn]

NEW: DOJ is investigating former congressman George Santos for insider trading on Kalshi

https://t.co/FW4bAozvd3

[Brendan Pedersen @BrendanPedersen]

Scoop: The House Financial Services Committee will host a private, Republican-only roundtable on prediction markets tomorrow, per internal memo.

Guests: Kalshi’s Tarek Mansour, Polymarket’s Neal Kumar, Robinhood's JB Mackenzie and the American Gaming Association's Chris Cylke.

[Justin Birnbaum @JustBirny]

EA is trying to meet consumer demand while still adhering to intellectual property restrictions after a breakup with FIFA.

@dan_bernstein_ looks at thin line the game publisher is walking as it rolls out a "World Tournament" mode in FC 26.

At @Sportico: https://t.co/K4e10Io7xM

[Dan Bernstein @dan_bernstein_]

@DustinGouker Tailor made for a Matt Levine newsletter musing

[Dan Bernstein @dan_bernstein_]

@fairplaygov

[Fairplaygov @fairplaygov]

Andrew Ross Sorkin: the important issue of derivatives fraud on DubClub

[Dan Bernstein @dan_bernstein_]

Some more details here.

Historically, voids (or the lack of them) have been a major pain point for betting exchanges.

[Dan Bernstein @dan_bernstein_]

Kalshi has informed the CFTC of a "Market Void Policy" it is implementing soon.

It's for eligible members "whose open position cost exceeds their funds distributed at settlement."

"Kalshi will provide a proportionate credit to the member’s Final Position Losses."

[Dan Bernstein @dan_bernstein_]

Some limitations on the policy here.

[Dan Bernstein @dan_bernstein_]

The not-so-subtle wordplay from the publisher is a callback to a bygone era of sports video games

[Dan Bernstein @dan_bernstein_]

This summer, EA is “celebrating the summer of international football" with a playable 48-team competition ... that definitely isn't the FIFA World Cup!

Some good corporate wording gymnastics 🤸

https://t.co/oXVYTvQBOZ