About this app
What is Arevalo?
“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”
Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.
The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.
How to play Arevalo
Prediction markets have become more and more intertwined with sports and entertainment businesses. Polymarket has agreements with Major League Baseball and Sportsradar. Sportsradar provides data and services for more than 20 sports leagues and competitions.
The company has also pursued partnerships outside the normal financial media. Its deals include relationships with major sports organizations and entertainment properties, signaling efforts to integrate prediction markets into mainstream content and information services.
The conclusion of the Yahoo Finance deal comes as there is more talk about the use of prediction market data in journalism. Operators such as Polymarket and rival Kalshi have touted their markets as a way to get real-time information on how likely future events are to occur.
What is Arevalo?
The NFL referenced a comparable incarnation of the platform in a letter this summer to the US Commodity Futures Trading Commission on prediction markets. The league was one of several that submitted public comments to the CFTC in regards to the agency’s proposed rules on event contracts.
The comment period opened shortly after several members of a Senate subcommittee alluded to the rise of prediction markets and the subsequent risk of a spike in harassment cases at a May federal sports betting hearing. The hearing, commenced by a US Senate Committee on Commerce, Science and Transportation subcommittee, was held at the Russell Senate Building during the heart of the NBA and NHL Playoffs.
Cruz, who chairs the Senate Commerce Committee, also co-authored the aforementioned Protect College Sports Act with Washington Senator Maria Cantwell. As cloture motion for floor debate of the act began this week, Cruz has expressed optimism that the bill will be signed into law.
