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

LSD News Szerkesztőség — Fri, 29 May 2026 05:55:56 +0000

The American Gaming Association now estimates that states have missed out on more than $1 billion in tax revenue due to the rise of prediction markets.

In an appearance on CNBC’s “Squawk Box” detailing the estimate, association president and CEO Bill Miller said that the lost money has consequences for communities due to the taxes states collect on regulated gambling.

“It’s about states and tribes that are losing literally a billion dollars today in state and tribal revenue that would otherwise go to fund important community projects,” he said, referencing the consequences on Native American casinos’ revenues too.

Miller — whose organization is an advocate for casino operators, manufacturers and employees — said prediction markets amount to “backdoor sports betting.” The only difference, in his view, is that they aren’t regulated in the same way as sportsbooks.

States have made a similar argument to Miller, arguing that prediction markets’ sports event contracts amount to sports gambling and thus should be regulated by their local frameworks. However, the Commodity Futures Trading Commission views these contracts as falling within its jurisdiction to regulate swaps and derivatives.

Signage is seen outside of the Commodity Futures Trading Commission headquarters in Washington, Aug. 30, 2020.

Andrew Kelly | Reuters

While states have sued several prediction market platforms, asserting that they’re violating state law, the CFTC has responded by suing states that it said are impeding on its regulatory power.

“We also believe that the CFTC has an important role to play in the financial space in and around commodities, precious metals, and other things,” Miller said. “Where we differ strongly is the belief that the CFTC is enabling these prediction markets to operate national sportsbooks with very little to no regulatory oversight.”

President Donald Trump said in a Truth Social post on Tuesday that it is important the CFTC’s jurisdiction over prediction markets is maintained. The Office of Management and Budget is also reviewing a proposal for the CFTC to regulate prediction markets.

Prediction market platforms argue that they’re not equivalent to sports betting. The companies say they have economic utility — like through contracts related to macroeconomic events and politics — and are not simply gaming.

In a post on X, the Coalition for Prediction Markets — which represents platforms like Kalshi, Coinbase and Robinhood — cast doubt on the association’s estimates. “Sources not found,” it wrote in response to the figure. The coalition didn’t immediately respond to a request for further comment.

In a statement, Kalshi spokesperson Elisabeth Diana also cast doubt on the numbers.

“This is fake math from casinos, who are worried about losing their monopoly power. Square that ‘math’ with the fact that the U.S. gaming industry reached a record high last year — $78.7 billion in revenue,” she said. “This is an industry that preys on people who lose. Of course they’re OK spreading lies. People are coming to prediction markets because they’re fairer, safer and less predatory than casinos.”

Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.

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Bitcoin’s Social Euphoria Hits Annual Peak Due To CLARITY Act, But History Says Caution Is Warranted

LSD News Szerkesztőség — Wed, 20 May 2026 04:06:48 +0000

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The CLARITY Act’s landmark committee approval has sent Bitcoin sentiment soaring to its highest point in months.

Data from Santiment shows that bullish Bitcoin commentary on social media has climbed to one of its greediest readings of the year, with 1.55 bullish comments for every 1.00 bearish comment. The on-chain data, however, indicates that the crowd may be getting ahead of itself.

Bitcoin Sentiment Points To Greed After CLARITY Act Vote

The passage of the Digital Asset Market Clarity Act through the Senate Banking Committee moved both price and crowd psychology simultaneously. The move came after the US Senate Banking Committee advanced the CLARITY Act in a 15-9 bipartisan vote, sending the important market-structure bill to the full Senate.

Interestingly, Santiment’s data shows that Bitcoin social sentiment has moved back into a FOMO zone. On May 15, Santiment’s social sentiment ratio for Bitcoin reached 1.55 bullish comments for every 1.00 bearish comment, placing it within a FOMO Zone.

That reading mirrors a prior peak recorded on April 25, when the ratio reached 1.58 bullish-to-bearish. Any time the ratio of positive to negative commentary on social media crosses this FOMO zone, then it is an ideal temporary profit-taking moment.

This does not mean Bitcoin has to crash because the crowd has turned optimistic. The same Santiment chart shows that the better contrarian setup came on April 18, when the bullish-to-bearish ratio dropped to 0.59. This was deep in the FUD Zone, before Bitcoin mounted a recovery.

Bitcoin Ratio Of Positive vs. Negative Commentary. Source: @SantimentData On X

CLARITY Act Still Bullish For Bitcoin In The Long Run

The caution around short-term sentiment does not cancel the long-term importance of the CLARITY Act. The bill is designed to create a clearer federal framework for digital assets, including a more defined division of authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

BTCUSD currently trading at $78,486. chart: TradingView

The bill was championed by major crypto companies, including Coinbase, Circle, and Ripple, all of which have sought a degree of regulation for the crypto industry. Senior figures linked to these companies also reacted positively on social media after the Senate Banking Committee advanced the legislation.

Coinbase CEO Brian Armstrong, for instance, stated in a post on X: “looking forward to a bipartisan law that cements the US as the world’s crypto capital. Let’s get CLARITY done.”

The bill still needs to be available for a vote from the full Senate, where 60 yes votes will be required. Projections from SoSoValue show a key window between mid-May and early August, with the House recess beginning July 27 and the Senate recess beginning August 10.

If lawmakers fail to complete full Senate consideration and reconciliation before that period, the bill could be pushed deeper into the fall agenda, and the difficulty of passage will rise significantly.

Clarity Act Legislative Process. Source: SoSoValue

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Train services on Puttalam line limited to Chilaw due to flooding

LSD News Szerkesztőség — Wed, 13 May 2026 12:08:45 +0000

The Department of Railways says train services on the Colombo-Puttalam railway line have been limited only up to Chilaw Railway Station due to sudden flooding.

Issuing a statement this afternoon (13), the Department said several locations along the Puttalam line in the Thilladi area have been inundated due to prevailing adverse weather conditions.

It further noted that the water level is continuing to rise, prompting the restriction of train operations on the Puttalam line up to Chilaw Railway Station this evening and tomorrow (14).

Accordingly, the Puttalam office train and all other train services will operate only between Colombo Fort Railway Station and Chilaw Railway Station today, while return services will commence from Chilaw Railway Station to Colombo Fort Railway Station tomorrow morning.

The Department added that further updates regarding train operations between Chilaw and Puttalam will be announced based on the prevailing situation.

Good & Gather snack, other nut mixes recalled due to salmonella risk

LSD News Szerkesztőség — Fri, 08 May 2026 23:24:41 +0000

An Illinois food manufacturer is recalling several snack products due to concerns that they may be contaminated with salmonella, according to a recall notice with the Food and Drug Administration.

The recall affects nut mixes and a corn mix manufactured by John B. Sanfilippo and Son and sold under the brand names Southern Style Nuts, Fisher, Squirrel Brand and Good & Gather.

The Good & Gather product, a Mexican street corn-inspired trail mix, was sold at Target, while the others were sold at various retail stores, online and by QVC, according to the FDA notice.

Mexican street corn trail mix sold by Target and other retailers is part of a product recall over salmonella risks.

FDA

The snack mixes contain dry milk powder previously recalled by another food company, California Dairies. The FDA said the seasoning tested negative for salmonella before it was used for the products and that John B. Sanfilippo and Son initiated the recall as a “precautionary measure.”

Salmonella is a bacterial disease that can spread through contaminated water or food. It can cause serious and sometimes fatal infections in young children, pregnant women, older adults and people with weakened immune systems.

“Consumers who have recently purchased the items listed below should not consume these products and should return them to the store of purchase for a full refund or replacement,” the FDA said in the recall notice.

Following the recall announcement, Target removed the Good & Gather snack mix from its stores and online, according to a spokesperson.

“At Target, we’re committed to providing safe, high-quality products for our guests,” the spokesperson said in an email on Thursday.

See below for a list of affected products:

Edited by

Alain Sherter

In:

Spirit Airlines doomed by sky high fuel prices due to ‘recent geopolitical events,’ court docs say

LSD News Szerkesztőség — Tue, 05 May 2026 02:46:42 +0000

Spirit Airlines said in court papers filed Monday that it was forced to ground its fleet for good over the weekend because “recent geopolitical events resulted in a massive and sustained increase in fuel prices.”

While the court papers did not specify the nature of those geopolitical events, jet fuel prices have soared in the two months since the start of the war in Iran.

“The Debtors and their advisors searched for increased capital and any sources of savings or liquidity, leaving no option unexplored,” the airline stated in records filed Monday in federal bankruptcy court in the Southern District of New York.

“It became clear on Thursday that sufficient incremental liquidity would not be found, and that there were no longer any viable paths to a restructuring or continued operations.”

But Spirit waited until early Saturday to pull the plug on its operations, stranding thousands of travelers midtrip and forcing countless others to rebook on other airlines. Many passengers said they received no warning that Spirit was going under.

Spirit, in the court papers, said it asked the Federal Aviation Administration “to issue a ground stop for Spirit flights to ensure no accidental dispatches” at 3 a.m. Saturday.

Why then? Spirit Airlines’ debtors decided “the safest time to make this announcement was when no planes were in the air and all crew who were away from their bases had sufficient time to check into hotel accommodations,” the court papers state.

“These actions were taken to prioritize the safety of passengers and crew,” they state.

Now, Spirit is requesting the authority to “take necessary steps to wind down its fleet operations.”

“In particular, Spirit is hereby requesting authorization to abandon the aircraft that it owns and are not already subject to a purchase agreement, and to either sell or abandon its owned spare engines and spare parts,” the papers state.

In its official announcement, Spirit said it will automatically refund tickets purchased directly by flyers with a credit or debit card, while those who booked through third parties would have to contact their travel agent.

Spirit said compensation for customers who used vouchers, credits or loyalty points would be determined later as part of the bankruptcy process.

Meanwhile, some 17,000 Spirit workers are now without jobs, including 5,500 flight attendants.

One of five budget airlines in the U.S., Spirit had struggled for years to stay profitable and twice declared bankruptcy, even as it paid its top executives millions of dollars in salaries and bonuses.

In the first two months of 2026, Spirit lost $60 million — and that was before President Donald Trump began the current conflict with Iran.

Spirit Airlines attempted to be acquired by JetBlue several years ago. But a federal judge sided with Biden-era Justice Department officials that such a combination tripped antitrust rules.

On Friday, NBC News reported that discussions between the Trump administration and Spirit Airlines to save the company were going nowhere and that the carrier could shut down on Saturday.

Earlier, Trump said the White House had given Spirit Airlines “a final proposal” for a federal bailout to save it. But Trump also warned that he was reluctant to risk taxpayer funds on a business that has already been through two bankruptcies.

Iran says Strait of Hormuz cannot be opened due to ceasefire breaches

LSD News Szerkesztőség — Thu, 23 Apr 2026 00:13:22 +0000

Iran’s chief negotiator in talks with the US said it is “not possible” for the Strait of Hormuz to be opened due to “the blatant violations of the ceasefire” by the US and Israel.

In a post on X on Wednesday, Mohammad Bagher Ghalibaf, said the “violations” include the US naval blockade of Iranian ports – which he said amounted to taking the global economy “hostage” – and “warmongering” by Israel “on all fronts”.

Iran remains open to negotiations, said Iran President Masoud Pezeshkian, but he added, “breach of commitments, blockade and threats are main obstacles to genuine negotiations”.

It appeared early Tuesday that the US and Iran would hold new peace talks in Pakistan this week – but they have yet to begin.

Vice-President JD Vance – due to lead the US delegation in those talks – remains in the US.

On Tuesday night, US President Donald Trump announced an extension to the US-Iran ceasefire that was due to expire on Wednesday.

White House Press Secretary Karoline Leavitt later clarified that Trump’s extension is open-ended, and has no new deadline. She added that Trump is “satisfied” with the ongoing US naval blockade against Iran, and “understands Iran is in a very weak position”.

“The cards are in President Trump’s hands right now,” she said.

Constellation Brands, U.S. maker of Modelo and Corona, withdraws 2028 guidance due to uncertainty

LSD News Szerkesztőség — Thu, 09 Apr 2026 14:10:20 +0000

Modelo beer is displayed on a shelf at a Safeway store on Oct. 6, 2025 in San Anselmo, California.

Justin Sullivan | Getty Images

Constellation Brands, U.S. maker of Modelo and Corona, withdrew its previously issued fiscal 2028 outlook on Wednesday and reported slightly weaker demand as consumers navigate a rapidly evolving macroenvironment.

The company said it was encouraged by the momentum in the fourth quarter across its beer and wine and spirits businesses, but the larger environment indicates lingering uncertainty. Constellation Brands also previously appointed Nicholas Fink as its new CEO, effective April 13.

“We expect the operating environment to remain dynamic given the evolving socioeconomic backdrop and limited near-term visibility,” the company said in a statement.

Still, the company beat Wall Street expectations for its fourth quarter and full fiscal-year results.

Here’s how the company performed in the fourth quarter, compared with what Wall Street was expecting based on a survey of analysts by LSEG:

Earnings per share: $1.90 per share adjusted vs. $1.72 per share expected
Revenue: $1.92 billion vs. $1.88 billion expected

For the fourth quarter, the company reported net income of $224.7 million, up from a loss of $370.6 million a year prior.

The company said its beer business continues to be one of its biggest sources of growth, though its overall net sales for fiscal 2026 decreased by 3%.

“We do expect that we will return to growth and that the headwinds that we’re facing today are more cyclical in nature than they are structural,” CFO Garth Hankinson said on a call with analysts on Thursday.

For fiscal 2027, the company said it expects adjusted EPS of between $11.20 and $11.90 compared with estimates of $12.36 per share. Constellation Brands said that spending behavior across alcohol categories became more “deliberate” because of broader economic uncertainty, with overall demand across its categories remaining “subdued” for most of the year.

“Things have been very volatile in terms of what the consumer reaction has been and our continuing research suggests that the consumer is still cautious,” CEO Bill Newlands said on the Thursday call.

– CNBC’s Brandon Gomez contributed to this report.

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GMOA claims doctors applied for post-internship appointments due to intimidation

LSD News Szerkesztőség — Sun, 05 Apr 2026 10:50:25 +0000

The Government Medical Officers’ Association (GMOA) claims that junior doctors applied for post-internship appointments due to pressure and threats allegedly exerted by the Ministry of Health.

Speaking on the matter, GMOA Secretary Dr. Prabath Sugathadasa stated that junior doctors are currently living in fear.

‘‘We observed that doctors who were eligible to apply for post- internship vacancies were subjected to unnecessary pressure and intimidation. There were threats of termination from public service, suspension of salaries, and even eviction from official quarters provided at hospitals. Due to these pressures, junior doctors were left in a highly vulnerable and unstable situation regarding their employment. They were fearful in the face of these threats,’‘ he said.

He further noted that professionals generally prefer to resolve issues through dialogue, but accused the Health Minister of avoiding similar discussions.

‘‘Professionals want to resolve issues at a professional level through dialogue. They do not want problems to be handled in an underhanded manner. It is under these circumstances that they applied for the vacancies,’‘ he added.

The GMOA had previously launched trade union action over several demands, including concerns about alleged irregular transfers. As solutions have not yet been reached, the association commenced a token strike once again from 8:00 a.m. today (05).

According to the GMOA, the strike is being carried out across all hospitals island-wide across all hospitals throughout the island.

The ongoing strike has disrupted patient care services, with hospital visitors expressing dissatisfaction over the inconvenience caused.

However, Minister of Health Dr. Nalinda Jayatissa stated that the transfers of doctors were carried out legally and emphasized that the ongoing strike action by the GMOA is unacceptable.

China suppliers warn of higher prices for Americans due to Strait of Hormuz closure

LSD News Szerkesztőség — Mon, 30 Mar 2026 18:07:19 +0000

Pickleball paddle producer Devi Wei has a message for U.S. shoppers.

“Americans will have to pay more,” the Chinese businessman told CNBC at a Beijing trade show last week at the China International Exhibition Center.

Because of the recent swings in oil prices resulting from the Iran war and closure of the Strait of Hormuz, Wei, who founded his own exporting business, Huijin Trade, has had to hike prices on his paddles and pickleballs by as much as 20%, he said.

Wei’s goods are made with polypropylene, a plastic material derived from oil and made in the Middle East, a dominant producer in the global industry. The war in Iran has stalled shipments of oil and its products through the Strait of Hormuz, raising concerns among Chinese manufacturers at the trade fair about further disruption across the global supply chain.

“I might have to go even higher,” Wei said. “Maybe double if the Iran war doesn’t stop soon.”

Surging oil prices are filtering into prices of all kinds of products that rely on the commodity for manufacturing.

James Li, who makes scarves and said he sells a third of his inventory to the U.S., has marked up his polyester products by 5%.

“This scarf is 30% polyester,” Li told CNBC from his trade show booth. “We will definitely pass on the extra cost to our customers.”

Wang Mingming, a general manager of toy manufacturer Jinming Gifts, said he is hoarding two months’ worth of the plastic polymer PVC, but isn’t sure he can hold off charging more for his figurines.

“In our industry, these materials are almost irreplaceable,” Wang said. “If oil prices rise any further, we really won’t be able to manage.”

Cameron Johnson, senior partner at Shanghai-based supply chain consultancy Tidalwave Solutions, said he foresees competition for oil-related products among entire sectors if the crisis at the Strait of Hormuz isn’t resolved soon. A prolonged impasse in the critical waterway also raises the possibility of product shortages.

“If this goes on into May, everyone will be in big trouble and there will be triage between industries,” Johnson said, predicting autos and the medical field would be granted higher priority. “There is no visibility when new supply will come.”

Perhaps the biggest worry among China’s manufacturers is what costlier oil will mean for discretionary spending by consumers worldwide.

More money for gas means less for Wei’s pickleballs.

“Ordinary people are getting squeezed the most from the high oil price,” he said. “Their spending power just isn’t what it used to be.”

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Crowds gather at ID Office despite suspension of services due to system failure

LSD News Szerkesztőség — Fri, 27 Mar 2026 06:14:12 +0000

Despite the suspension of all public services, including the one-day service, due to a sudden technical failure in the computer system of the Department for Registration of Persons (ID Office), crowds have once again gathered at the premises today (27).

The Department officially announced yesterday (26) that all public services would be suspended until further notice following the system breakdown.

In this context, members of the public have been arriving at the Department since early this morning in an attempt to obtain essential services. Among those present are individuals who have been unable to complete their requirements since last Tuesday.

Furthermore, several school students who lost their identity cards during the recent floods were also seen at the premises, said Ada Derana reporter.

It is reported that these students urgently require their identification documents to participate in a sports competition scheduled for Monday.