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Nonprofits are increasingly relying on research firms to ensure that donations are free from scandal. The Sackler family, known for their philanthropy, faced backlash due to their connection to Purdue Pharma, the maker of Oxycontin. Due-diligence companies like Xapien are now assisting institutions in scrutinizing donors to avoid reputational harm and financial strain. The scrutiny of donors has become essential in the philanthropic sector to prevent future scandals and maintain the integrity of organizations. [Extracted from the article]

The article focuses on the efforts of online sports betting service ESPN Bet, a venture between sports media company ESPN Inc. and casino operator Penn Entertainment Inc., to gain U.S. market share to compete with FanDuel and DraftKings Inc. It informs about the spending of FanDuel and DraftKings in marketing and promotion to entice gamblers. It reports the rebranding of the sportsbook of digital media company Barstool Sports Inc. in Penn casinos, under a partnership, with the ESPN Bet name.

The article highlights the work of monitoring company US Integrity in investigating cheating players and sports betting. It reports the attempt of Toronto Raptors forward Jontay Porter to cheat online betting service DraftKings Inc. It informs about the contract of US Integrity with sportsbook operators that gives the company real-time betting data across professional sports leagues and National Collegiate Athletics Association (NCAA) Division I conferences.

The article discusses the legislation passed in New Hampshire in 2024. The Legislature filed 1,323 bills, but most were not adopted. The article focuses on three main topics: taxes, public finance, and housing. In terms of taxes, there were bills to reduce tax rates, increase deductions, and adjust credit carry-forwards. Public finance was addressed through a bill that aimed to invest state funds within New Hampshire banks. Housing legislation focused on increasing the housing stock and addressing rental issues. Employment-related bills, such as increasing the minimum wage and unemployment benefits, were rejected. [Extracted from the article]

This post originally appeared in the Insider Today newsletter. You can sign up for (https://www.businessinsider.com/subscription/newsletter/insider-today) Business Insider's daily newsletter here . Good morning! I'm not sure if they're planning a [...]

NASB Financial announced that its CEO Thomas Wagers will be retiring from his position of CEO following its annual stockholders meeting in January 2025. Mr. Wagers will remain as a [...]

Byline: The Center Square Photo courtesy DepositPhotos. Mobile sports wagers were up again in December, marking an increase every month so far in fiscal year 2023-24. 'Once again, sports book [...]

The article discusses the growth and potential of the online gambling industry. It highlights the success of companies like Flutter Entertainment and DraftKings, which have seen significant increases in their stock prices. However, it also acknowledges the ethical concerns surrounding gambling addiction and the exclusion of gambling stocks from ESG funds. The article provides investment ideas in the online gambling sector, including Flutter Entertainment, DraftKings, and two gambling ETFs. It concludes by noting the risks and competition in the industry and suggests that investors may be better off holding the ETFs. [Extracted from the article]

Lightspeed Venture Partners recently led a $2 billion investment in Anthropic, a rival of OpenAI, at a $60 billion valuation. This deal is part of Lightspeed's aggressive push into AI investments, with the firm also backing companies like Databricks Inc. and xAI. The AI megadeals trend has seen US AI startups raise a record $97 billion in 2024, with Lightspeed positioning itself to be a major player in this space. However, the high-stakes nature of these investments comes with risks, as seen in the challenges faced by companies like Stability AI and Mistral. [Extracted from the article]

The article discusses how copper and silver futures in New York are trading at a premium over international benchmarks due to fears of import tariffs by Donald Trump. Traders are reacting to uncertainty over Trump's trade policies, with concerns about rising inflation and fiscal debt. The price dislocations present opportunities for some traders but also create risks for investors. There is a risk of a squeeze in the silver market due to limited availability of metal for delivery against Comex futures. [Extracted from the article]

The article discusses the surge in copper and silver futures in New York above international benchmarks due to speculation about potential import tariffs by Donald Trump. Traders are reacting to Trump's trade war rhetoric, causing price dislocations and creating risks for investors. There is concern about a potential squeeze in the silver market due to limited availability of metal for delivery against Comex futures. The article highlights the unpredictability and anxiety in financial markets surrounding Trump's trade policies. [Extracted from the article]

The article discusses the rise of prop betting in the gaming industry, where bets can be placed on various aspects of a game or event, including elections. Kalshi, Inc. allowed users to place bets on election outcomes, but the Commodity Futures Trading Commission (CFTC) barred them from creating event contracts related to congressional elections, citing concerns about gaming. Despite winning a court case against the CFTC, Kalshi's victory was short-lived as the CFTC appealed the decision, raising questions about the legality and implications of allowing betting on election outcomes. [Extracted from the article]

The article focuses on statistician writer Nate Silver and his efforts in studying different types of gamblers or professional risk-takers as reported in his book "On the Edge: The Art of Risking Everything." It informs about Silver's use of an election model to create an account of the gambling industry, particularly gambling patterns, to provide a framework for understanding professional sports gamblers and raise concern about what he calls as hypercommitted casino capitalism.

Investors have made Toronto-Dominion the most-shorted bank in the world, Bloomberg reports. Short sellers have accumulated a staggering $3.7 billion in wagers against the Canadian lender. The short interest suggests [...]

The article discusses how a decision by Switzerland's financial regulator regarding Credit Suisse bonds led to significant losses for investors, including Ken Leech, a former star manager accused of fraud. Leech allegedly engaged in a fraudulent scheme to prop up his investment strategy after suffering losses from the Credit Suisse bonds. The impact of this debacle is reflected in criminal and civil cases against Leech, highlighting the challenges faced by his investment strategies. The decision by the regulator also sparked lawsuits from bondholders seeking to recoup their losses, adding to the complexity of the situation. [Extracted from the article]

The article discusses the rise of gambling addiction in Brazil, particularly among lower-income individuals, following the legalization of online betting platforms. Policymakers are alarmed by the increasing number of Brazilians, including those living below the poverty line, who are accumulating debt to finance their gambling habits. The government is taking steps to regulate the industry, including banning the use of credit cards for betting and monitoring excessive gambling behavior. The story follows the experience of a young woman, Beatriz Azevedo dos Santos, who fell into a cycle of debt due to her gambling addiction, highlighting the devastating impact of unregulated gambling on vulnerable populations in Brazil. [Extracted from the article]

The S&P 500 rally came to a halt as Treasury yields surged and the dollar reached a two-year high before key inflation data was released. Small caps and banks saw losses after significant post-election gains, with Tesla Inc. dropping after a substantial surge. Investors are cautious about potential profit-taking and market corrections as the S&P 500 fell 0.3% and Treasury 10-year yields climbed to 4.43%. The core consumer price index is expected to show a steady increase, with mixed investor expectations on market reactions to CPI data. [Extracted from the article]

Bitcoin options traders are optimistic about the cryptocurrency reaching $100,000 by the end of the year following Donald Trump's election victory. Investors are placing bets on Bitcoin surpassing this milestone, with a $100,000 call option expiring on Dec. 27 seeing a 30% increase in value. Institutional interest in Bitcoin is also growing, as evidenced by rising futures trading at the CME Group Inc. However, some caution remains as uncertainties about Trump's focus on crypto post-election persist. [Extracted from the article]

The article from Bloomberg.com reports that Millennium Management is parting ways with merger-arbitrage portfolio manager Laurent Pujade, who specialized in trading corporate events like mergers. Pujade's departure follows a court decision that halted Tapestry Inc.'s planned acquisition of Capri Holdings Ltd., causing Capri's shares to drop significantly. Another portfolio manager, Ed Cooper, is also leaving after a selloff due to regulators not approving a take-private deal. The article highlights the challenges faced by portfolio managers in the current market environment, where betting on the success of proposed deals has become more complex. [Extracted from the article]

The article explores the history and current state of political betting, focusing on its impact on elections and markets. It delves into the origins of political betting, its accuracy in predicting outcomes, and the potential risks and benefits associated with it. The text highlights the ongoing debate surrounding the regulation of political prediction markets and the challenges posed by reflexivity and manipulation. Overall, the article provides a comprehensive analysis of the complexities and implications of political betting in the modern era. [Extracted from the article]

Former Jacksonville Jaguars executive Amit Patel has filed a lawsuit against FanDuel Inc., alleging that the gambling website knew about his addiction and actively encouraged him to continue betting by offering him incentives and gifts. Patel, who admitted to stealing over $22 million from the team, claims that FanDuel ignored responsible gaming protocols and targeted him to feed his addiction. The lawsuit seeks over $250 million in damages. This case comes as gambling addiction is on the rise, with more people reporting online gambling and counselors seeing an increase in young men addicted to betting. FanDuel has not commented on the pending litigation. [Extracted from the article]

Former Jacksonville Jaguars executive Amit Patel has filed a lawsuit against FanDuel Inc., claiming that the gambling website knew about his addiction and offered him incentives to continue placing bets. Patel, who admitted to stealing over $22 million from the team, alleges that FanDuel ignored responsible gaming protocols and targeted him with financial incentives and lavish gifts. The lawsuit seeks over $250 million in damages. This case highlights the increasing issue of gambling addiction following the legalization of sports betting in many states. [Extracted from the article]

As taken directly from the NCAA website, sports betting is viewed very negatively: NCAA rules prohibit participation in sports wagering activities and from providing information to individuals involved in or associated with any type of sports wagering activities concerning intercollegiate, amateur, or professional athletics competition. In its investigation, Iowa confirmed that 26 current student athletes had violated the sports wagering prohibition of the NCAA. [Extracted from the article]

The article scrutinizes an attempt by the Kalshi Inc. startup company to introduce event markets gambling in the U.S. Regulation of event markets by the Commodity Futures Trading Commission's Division of Market Oversight is described along with biographical information on Kalshi founders Luana Lopes Lara and Tarek Mansour. The extent of the company's political lobbying is described along with the prevalence of insider trading in events markets compared to securities trading.