Billionaire John Arnold commits $2.6 million to study online sports betting risk
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Source: CNBC
Published: 2026-07-07 20:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Science, Economy & Finance, Financial Markets, Law & Courts, World News, Business & Economy
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Snippet:
Billionaire philanthropist John Arnold says online sports betting has changed immeasurably since it became legal in the U.S. in 2018, thanks to the rise of online prediction market platforms Kalshi and Polymarket and mobile apps like DraftKings and FanDuel. To better understand the potential risks, he's awarding $2.6 million to researchers studying the evolving world of gambling on sports.
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