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The Spiral: A three-year analysis of new bettors shows who sportsbooks really depend on, and what it costs them. The least active two-thirds of licensed sportsbook gamblers account for just 2.7% of estimated revenue, according to a Bloomberg Businessweek analysis of almost 140,000 bettors across 29 states in 2024 and ’25. (Businessweek)
- Messages
- 48,690
- Reaction score
- 8,048
- Points
- 288
A Washington man lost $308,000 betting on Kalshi — now he's suing for $580,000, saying it never should've let him
Prediction markets strenuously object when they’re labeled as gambling sites, but a man who lost more than $300,000 on Kalshi is hoping the courts will see them as just that.Scott Bright of Bellevue, Washington, is suing Kalshi after running up a net loss of more than $308,000 on the platform when he wagered on sporting events. His lawsuit says the “wagering occurred at a time when it was unlawful in Washington and when the Washington Attorney General had already sued KalshiEX LLC in this Court alleging precisely that.”
More:
https://www.msn.com/en-us/money/eco...hould-ve-let-him/ar-AA2hcWoB?ocid=socialshare