अब सट्टेबाजी पर दांव लगाएगा ट्रम्प परिवार: ‘ट्रुथ प्रेडिक्ट’ से पुराने कैसिनो के किलों में सेंध, नेवादा से न्यूजर्सी तक मुकदमों की जंग

Donald Trump opened the ‘Taj Mahal’ casino in April 1990. However, now the Trump family is looking at a new way of earning money from betting in the prediction market.

These days, political and legal heat is rising in Washington regarding ‘prediction market’. The root of the controversy is Trump Media Group’s new platform ‘Truth Predict’ and Donald Trump Jr.’s association with big companies like ‘Kalshi’ and ‘Polymarket’. On these digital platforms, people place money on future events, from elections to sports. Critics believe that the presence of a political family in this government regulated sector raises big questions on transparency.

This growing market of traditional casinos versus the digital market has left many of the older players in a tizzy. Interestingly, in April 1990, Donald Trump opened the ‘Taj Mahal’ casino, which he termed the ‘Eighth Wonder of the World’. After three decades, the Trump family is out of the casino business and is now looking for a new way to earn money from sports betting in the prediction market.

Casino and sportsbook operators allege that these prediction companies are running ‘online betting’ without a license. The controversy deepened when the Commodity Futures Trading Commission (CFTC) moved to exempt these platforms from states’ strict gambling laws. This has sparked a legal battle in states like Nevada and New Jersey, which have strict restrictions on sports betting.

According to ‘Artemis Analytics’, bets worth more than Rs 41,000 crore are being placed every week on these platforms across the world. While Kalshi claimed $1 billion in trading on the day of the Super Bowl in February this year, betting at Nevada’s traditional casinos hit a 10-year low. It is clear that the digital market is now swallowing the traditional gaming industry.

Amidst the controversies, Trump Jr.’s spokesperson has clarified that he neither does business himself nor advocates for any company in the government. At the same time, the White House has also clarified that all the decisions of the administration are taken only keeping the public interest in mind. At present, the matter is entangled between the courts and regulatory files.

Insider trading will be controlled, 6 bills introduced this year

Meanwhile, there are signs of strictness in the US Congress. At least six bills have been introduced this year, which include provisions such as banning insider trading, controlling election markets and increasing the powers of the CFTC. A bipartisan proposal calls for a ban on wagering on sports, war, terrorism and murder. Overall, the rapidly expanding scope of the prediction market is now raising big questions of regulation, transparency and political conflicts of interest.

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