Betting

Vishal Chawla / The Block: BlockSec: a buggy smart contract of Mirror Protocol, a Terra DeFi app for betting on stocks with synthetic assets, was exploited for ~$90M over seven months — Quick Take — The exploit was accidentally discovered by a Terra community member last week. — It has been confirmed by security analysts BlockSec. Vishal Chawla / The Block: BlockSec: a buggy smart contract of Mirror Protocol, a Terra DeFi app for betting on stocks with synthetic assets, was…

General Motors once led the world in auto sales, and still, with some exceptions, leads the U.S.Now the automaker hopes to become a leader in electric vehicles on its home turf and beyond.The Detroit company has made massive investments in EV technology in a bet that its new Ultium platform — consisting of batteries, motors, software and other components — will help it to outpace competition from legacy automakers and countless start-ups and eventually replace Tesla as the No. 1 EV maker.The automaker unveiled its Ultium…

Churchill Downs, which owns the Kentucky Derby, is changing its strategy when it comes to sports wagering.The company is doubling down on horse race betting and moving away from online sports betting and iGaming digital casino games, CEO Bill Carstanjen told CNBC."We saw an environment for our company where we didn't see positive margins on the horizon. So we switched strategies we we are focused on running our horse racing business," Carstanjen tells CNBC.Following a Supreme Court decision in 2018 that allowed states to…

A measure seeking to legalize online sports betting backed by three of the nation’s largest online gambling companies has qualified for California’s November ballot, setting up a costly fight with the state’s tribes over control of a market researchers say could be worth billions.A coalition led by FanDuel Group, DraftKings Inc. and BetMGM said Tuesday it had submitted more than 1.6 million signatures in support of their online gambling measure, well above the roughly one million required to…