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Trump Orders Declassification of UFO and Alien Files
PoliticsAPReutersbloomberg+10NYTThe GuardianDWSCMPBusiness InsiderThe IndependentTimes of IndiaDawnseeking-alphaDaily Star BD4d ago13 sources

Trump Orders Declassification of UFO and Alien Files

Former US President Donald Trump has ordered the Pentagon and other government agencies to declassify and release files related to UFOs and aliens, citing public interest in the topic.

Young Men Lose Thousands in Prediction Markets
FinanceeconomistBusiness InsiderYahoo5d ago3 sources

Young Men Lose Thousands in Prediction Markets

Two young men describe losing thousands of dollars on prediction market platforms Kalshi and Polymarket, highlighting the risks associated with these increasingly popular platforms.

Nevada sues Kalshi as federal regulators say back off
BusinessBusiness Insider6d ago

Nevada sues Kalshi as federal regulators say back off

Kalshi's website Thomas Fuller/NurPhoto via Getty Images Nevada regulators sued Kalshi, saying its markets are actually illegal sports gambling. The suit was filed just as the Trump administration sided with prediction markets. Other states have also sued Kalshi, and many legal observers expect the Supreme Court to weigh in. Nevada gambling regulators sued the prediction markets company Kalshi on Tuesday, saying the platform's rapid growth forced their hand. The Nevada Gaming Control Board and the state attorney general sued in Carson City District Court shortly after a federal appeals court rejected a request by Kalshi to stop the state from taking action. The state is seeking an order to stop Kalshi, the country's largest prediction market, from operating what it sees as an unlicensed sports betting operation. "Kalshi has continued to dramatically expand its business, rather than attempting to maintain any kind of status quo," Nevada authorities said in a letter earlier this month. The regulators emphasized that Kalshi has grown rapidly, doing 27 times as much business on Super Bowl Sunday this year compared to the year before. Meanwhile, regulated Nevada gambling operations saw their business shrink, the state said. A Kalshi spokesperson declined to comment on Tuesday afternoon, but the company swiftly asked a federal court to take over the new state case. They argued that only federal law applies to prediction markets, and that the new state enforcement action turns on the same questions that federal courts are already considering. Kalshi has said that its markets are "event contracts," a financial instrument regulated by the Commodities Futures Trading Commission. The CFTC on Tuesday sided with another events-contracts company that is fighting with Nevada regulators, and its chairman, Michael Selig, filmed a video statement defending the new platforms. "Today, the CFTC is taking an important step to ensure that these markets have a place here in America," Selig said. "To those who seek to challenge our authority in this space, let me be clear: we will see you in court." Economists and political scientists have long been fascinated by prediction markets as a way to channel the so-called wisdom of the crowds. They were generally a niche activity until the 2024 US presidential election, when people wagered millions of dollars on sites like Polymarket. Since the election, sports and cryptocurrency speculation have become the dominant markets. Today, more than 90% of the money that flows through Kalshi's platform is staked on sports-related events, and the growth of platforms like Kalshi has spurred traditional sportsbooks like FanDuel and DraftKings to create their prediction markets to take advantage of the light-touch regulation and lower taxes they offer. Legal battles are pending on the East Coast as well, with regulators in Maryland and New Jersey having clashed with prediction markets. Attorneys and other industry commentators have said they expect the Supreme Court to eventually weigh in on the legality of sports contracts on prediction markets. Read the original article on Business Insider

Surging prediction markets face legal backlash in US: ‘Lines have been blurred’
BusinessThe Guardian7d ago

Surging prediction markets face legal backlash in US: ‘Lines have been blurred’

At least 20 federal suits filed against companies like Kalshi and Polymarket as lawmakers call it ‘loophole’ for gambling State lawmakers and gaming regulators across the US are escalating their fight against prediction markets, arguing that the fast-growing platforms are “basically gambling but with another name”. At least 20 federal lawsuits have been filed nationwide, disputing whether companies such as Kalshi and Polymarket should be treated as federally regulated financial exchanges, as they maintain, or as gambling operations that should be regulated like state-licensed sportsbooks. Continue reading...

Jake Paul says Sam Altman taught him the value of a 15-minute meeting
BusinessBusiness Insider6d ago

Jake Paul says Sam Altman taught him the value of a 15-minute meeting

Jake Paul said he bonded with Sam Altman over a love of "fast cars." Mandel Ngan/AFP/Getty Images; Gerrit van Keulen/Soccrates/Getty Images Jake Paul said that OpenAI CEO Sam Altman taught him to be "hella productive" with 15-minute meetings. "Time is the most valuable thing, and it's the only reason you can't accomplish more," Paul said on "Sourcery." Paul said that he met Altman at President Donald Trump's inauguration. His fund later invested in OpenAI. Jake Paul was a firebrand YouTuber. Then he was an NFT merchant, and a betting site operator. Now, Paul is a professional boxer — and venture capitalist. And he's learning from one of the biggest names in tech. On "Sourcery," Paul said that he met OpenAI CEO Sam Altman while sitting next to each other at President Donald Trump's inauguration. "Sam likes fast cars, and so do I," Paul said. "So, we just started talking about cars, and then we got along, and that was really it." Paul's Anti Fund — which is also led by his brother Logan and longtime founder Geoffrey Woo — invested in OpenAI in 2025. The biggest lesson he's learned from Altman is efficiency, Paul said. He described the quick-and-tidy meetings that Altman runs. The OpenAI CEO "walks into the room, sits down, let's get right into the conversation, boom boom boom," he said. In 15 minutes alone, Altman was "hella productive," Paul said. Then, Altman can go on to his next meeting and do it all over again. "We'll do hourlong meetings or calls and just waste time," Paul said. "I think that was inspiring because time is the most valuable thing, and it's the only reason you can't accomplish more." Indeed, Altman has long opted for the 15-minute meeting. In a 2018 blog post, he wrote that the ideal meeting time is either around 15 to 20 minutes or 2 hours, but "the default of 1 hour is usually wrong." Paul has worked closely with OpenAI in the last year, beyond participating in fundraising. Remember all of those strange Paul memes running around the internet during the Sora 2 launch? They were by design. Paul said he helped consult on the project and was one of the first to sign over his name, image, and likeness. Woo also appeared on the podcast, and spelled out the thinking behind those far-out memes (such as an AI Paul declaring he was gay). "It was not something that was like, 'Hey, Jake Paul is now gay.' Jake was thoughtful in terms of why we were part of that launch." Woo also said that he had formed a good friendship with Altman and Mark Chen, OpenAI's chief research officer. For the Sora 2 launch, Paul said that he had "regular calls" with OpenAI and offered "super detailed consulting." "Me and my brother have however many years combined of social media experience since the beginning," Paul said. "We were there when the term 'influencer' was even made up." This background, Paul said, helped him give good advice on what OpenAI's social media-like interface should look like. He advised on both what creators and audiences wanted, he said. Anti Fund closed its $30 million fund in September. Other investments include defense tech startup Anduril and prediction market Polymarket. Woo said their ties to OpenAI remain strong. "We were just at OpenAI for three hours looking for other ways to collaborate," he said. "Things might be cooking." Read the original article on Business Insider