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- Wall Street Journal: Prediction Markets Mostly Bleeding Cash
- Cardi B Goes After Tasha K in Court Over Talking Offset’s Alleged Gambling, Shooting Outside Florida Casino
- The San Jose Police Department said that that 46-year-old Gustavo Rodriguez of San Jose was arrested for the March 12 shooting
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Prediction Markets
Prediction Markets Mostly Bleeding Cash
Tuesday May 5, 2026 (9:11 am EDT)
A WSJ analysis shows a small number of accounts on Polymarket and Kalshi—often pros using data-driven algorithmic trading—take home most of the winnings. The combined monthly notional volume hit an all-time high of $29.8 billion last month, up roughly 588% from a year earlier. According to the report, Polymarket has at least 2.3 million total accounts. WSJ reviewed 1.6 million accounts that have been active since November 2022. It revealed that just 0.1% of accounts captured 67% of all profits. This indicated that fewer than 2,000 of the accounts collectively netted nearly $500 million in profits. The typical user is down between $1 and $100. In addition, the bottom 10% have lost an average of $4,000 each. “Casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch,” the report read. Another academic study from November 2022 through March of this year found that 68.8% of Polymarket users have lost money. Moreover, 1% of traders have accounted for 76.5% of total profits.
Iran Conflict
US x Iran Permanent Peace Deal By June 30 Just 34% Chance According to Prediction Markets
Tuesday May 5, 2026 (9:11 am EDT)
Just 34% of those trading at Polymarket believe that a permanent peace deal will be reached between the USA and Iran by the end of June. A mere 13% chance was given to this happening by the end of this month. US Defence Secretary Pete Hegseth says the ceasefire with Iran is “not over”, despite escalating tensions in the Strait of Hormuz, adding that US President Donald Trump will determine whether any escalation constitutes a “violation of ceasefire”.
Entertainment / Gambling Crime
Cardi B Goes After Tasha K in Court Over Talking Offset’s Alleged Gambling, Shooting Outside Florida Casino
Tuesday Mary 5, 2026 (9:21 am EDT)
Recording artist Cardi B says she's had it with Tasha K running her mouth about her ex-husband, Offset, despite a court order prohibiting the blogger from doing so, according to TMZ. Card B. was awarded $4 million from Tasha in the defamation battle. Tasha filed for bankruptcy months later. Both settled on a deal that would reduce the debt to $1.2 million with payments made monthly and Tasha K would stop making disparaging comments about the Bodak Yellow singer. But Cardi B says Tasha continues to talk about Offset, including his alleged gambling and the recent shooting that left him hospitalized. Reports emerged since that shooting outside the Hollywood Seminole Hard Rock Casino that a Detroit casino is claiming Offset owes them around $100,000 in gambling debts.
Gambling Crime
The San Jose Police Department said that that 46-year-old Gustavo Rodriguez of San Jose was arrested for the March 12 shooting
Tuesday May 5, 2026 (9:21 am EDT)
A suspect in a San Jose, California double homicide at an illegal gambling den in March has been arrested. Two men were found shot dead inside a commercial building at about 10:11 p.m on March 12. Police at the time said the business was operating as an illicit gambling establishment, and occupants had fled before officers arrived. 13 others with ties to the gambling dens have been arrested. The San Jose Police Department said that that 46-year-old Gustavo Rodriguez of San Jose was arrested in connection with the shooting. booked him into the Santa Clara County Jail for murder The shootings were the city's 5th and 6th homicides of 2026.
- Chris Costigan, Gambling911.com Publisher
