Alex Weldon
Latest Articles By Alex Weldon (113)
CFTC Clears Two More Predictions Exchanges to Serve US Customers Without Federal Interference
Yesterday, the Commodity Futures Trading Commission (CFTC) announced its staff had issued no-action letters to two predictions trading companies seeking to enter the US market: Railbird Exchange, LLC and QC Clearing LLC. The letters clear the path for these companies to offer products similar to Kalshi without the fear of having to defend themselves against enforcement...
GTO Wizard AI Takes On the Difficult Problem of Multiway Postflop Situations
GTO Wizard AI has made some important progress toward its next roadmap milestone of adding full multiway postflop functionality to its solver. The app now supports custom solutions for three-handed situations...
Kalshi Suffers Setback in Maryland Federal Court: Congressional Intent Could be Prediction Markets’ Kryptonite
Maryland can enforce its cease-and-desist against Kalshi, a federal District Court has ruled, dealing the predictions market its first real legal setback of 2025. Judge Adam Abelson denied the company's request for a restraining order,...
Newsom’s Presidential Odds Rising Despite Potential Tribal Casino Scandal
California Governor Gavin Newsom currently looks like Democrats' best hope to win the next presidential election, and predictions market bettors don't seem particularly bothered by media attempts to manufacture a scandal out...
Legal Poker and Blackjack Stripped from Washington, D.C. Budget
Washington, D.C., counselors passed the District's 2026 budget this week, but a proposal to legalize poker and blackjack was no longer present in the bill's final draft. A separate provision...
House Ways & Means Committee Chair Promises Nevadans That Gambling Tax Deductions Cap Will Be Repealed
Optimism is rising that an unpopular change to taxes on gambling winnings will be reversed before it takes effect, following comments by House Ways & Means Committee Chairman Jason Smith. Republicans...
DraftKings Poker Experiment Appears to Be a Dud—’Electric’ Variant Earning Minimal Revenue One Year In
DraftKings' foray into player-vs.-player poker appears to be losing steam as it closes in on its first anniversary. Electric Poker created some buzz when it was first released in August 2024,...
Polymarket Will Return to the US Soon—What That Means for Predictions Market Speculators
Polymarket will soon be serving US customers again after a three-year absence, thanks to its acquisition of a smaller exchange and clearinghouse recently licensed by the CFTC. It paid $112 million to purchase QCX, which...
Maverick Gaming to Close Four Washington State Locations Amid Bankruptcy Proceedings
Maverick Gaming, Washington State's poker room operator, has filed for Chapter 11 bankruptcy and announced that it will close four of its casinos. The company has blamed lawmakers for declining its...
PokerStars Removes Cash Game Seat Choice at 200NL and Below on Global Client
On July 15, PokerStars released an update to its cash game lobby for international dot-com players, removing the ability for lower-stakes players to select their seats manually. The move echoes trials...
