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Buffett has repeatedly raised concerns regarding the mainstreaming of gambling and its marketing under the guise of investing. In May, he targeted prediction markets and traders speculating on short-term instruments like 30-minute bitcoin options.
“If you’re buying or selling one-day options, that is not investing. It is not speculating. It is gambling,” Buffett said during an interview with CNBC. “There’s nobody who can explain why they’re buying an option for one day.”
Buffett, who built his fortune buying “wonderful businesses” at fair prices and holding them for the long term, believes the public has mistakenly adopted a get-rich-quick mindset.
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Belmont Park reopened for racing Friday (September 18) following a three-year, $455 million redevelopment, ushering in a new era for New York horse racing.
A sold-out crowd of 6,000 attended the first day of racing at the rebuilt Long Island track, wagering almost $14 million on a nine-race card headlined by the $1 million Jockey Club Gold Cup.
Japanese star Forever Young won the feature race, while all-sources wagering for the day totaled $13,997,422, according to BloodHorse.
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Yahoo—which is 90% owned by private equity giant Apollo Global Management, the firm that acquired operating control of The Venetian in Las Vegas—did not elaborate on why the Polymarket integration ended.
Yahoo Finance is one of the most visited financial news websites in the world, implying it’s a blow to Polymarket that its prediction market hub was pulled, but the operator has other prominent financial media deals.
Prior to announcing the Yahoo Finance accord last November, Polymarket and one of its rivals unveiled deals with Google Finance.
