For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It’s completely free and we guarantee you’ll learn something new every day. When it comes to politics, all bets are off. Since 2014, online predictions marketplace PredictIt has allowed Americans to vote with their wallets and gamble on elections, but the Australian-based site has been ordered to shutter its US-based operations by February. The Two-Parlay System Gambling on election outcomes has always been a legal gray zone. It’s neither federally banned nor locally approved. Vegas casinos won’t take your Washington wagers, nor will popular sports betting apps like FanDuel or DraftKings (though off-shore European bookkeepers happily accepted a record $1 billion in bets on the 2020 election). But PredictIt and similar sites somehow circumvented legal restrictions by purporting to be a public good: When the site first launched eight years ago, the Commodity Futures Trading Commission (CTFC) granted it a no-action relief letter, because the<\/p>\n","protected":false},"excerpt":{"rendered":"
When it comes to politics, all bets are off. Since 2014, online predictions marketplace PredictIt has allowed Americans to vote with their wallets…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,1],"tags":[201,7,5,6,42],"class_list":["post-99402","post","type-post","status-publish","format-standard","hentry","category-gambling","category-news","tag-draftkings","tag-gambling","tag-hobbies","tag-lifestyle","tag-politics"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/99402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=99402"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/99402\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=99402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=99402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=99402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}