News

Gaming association says states have lost $1 billion in tax revenue due to prediction markets

Bill Miller, American Gaming Association president and CEO, added that prediction market platforms in his view amount to "backdoor sports betting."

Nio surges 9% after releasing first flagship EV in more than two years

Chinese electric car company Nio has launched two lower-priced brands in the last two years to broaden its customer base in a sluggish Chinese consumer market.

Google employee charged with $1M Polymarket insider trading bet on search term

The complaint from the Southern District of New York comes just over a month after another insider trading case on Polymarket.

Traders are skeptical of Iran timeline for Strait of Hormuz reopening

Despite reports Iran could return the passageway to normal traffic flows within a month of a peace deal, Kalshi traders thought that was unlikely.

Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'

A $20 billion deal would be among the largest in JPMorgan's history and could invite regulatory scrutiny given its position as the largest U.S. bank by assets.

Your AI agent can now trade for you on Robinhood. And buy stuff with your credit card too

The new products allow customers to create AI assistants capable of carrying out investing strategies or spending instructions with minimal human involvement.

Taiwan chip stocks climb after Nvidia announces $150 billion spending plans

Mainland China-based chip giants such as Cambricon saw their shares tumble on Wednesday.

China industrial profits jump 24.7% in April, fastest gain in over two years despite headwinds

China’s industrial profits grew at their fastest pace in over two years in April, buoyed by stronger exports, higher producer prices and gains in upstream industries.

European companies double down on China manufacturing despite EU de-risking push

Low manufacturing costs in China are keeping many European businesses' supply chains in the country despite pressure in the EU to reduce overseas reliance.

Piper Sandler says Strait of Hormuz to remain closed for months and oil to hit new highs

Prolonged closure of Strait of Hormuz could send crude oil prices to new highs this summer.

Pope Leo is concerned about AI replacing human work. Traders share his concern long term

The leader of the Catholic Church warned about artificial intelligence upending the labor market. Traders on Kalshi see unemployment jumping before 2030.

Huawei unveils new smartphone chips this fall as rivalry with Nvidia and Apple heats up

Chinese telecom giant Huawei announced Monday a new way of designing chips that improves their capabilities, despite U.S. restrictions on the company.
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