Breaking AI & Tech News Analyzed

A federal appeals court has ruled that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. The decision marks a significant victory for Kalshi and similar prediction market operators.The three-judge panel of the Philadelphia-based third US circuit court of appeals ruled 2-1, finding that the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.This ruling is a major setback for states like New Jersey, which had argued that firms like Kalshi were operating without required state licenses, in violation of gaming laws, including bans on wagers by those under 21. New Jersey had sent Kalshi a cease-and-desist letter last year, stating that its listing of sports-related event contracts on its platform violated state gambling laws.Kalshi had sued the state, arguing that its event contracts qualify as “swaps”, a type of derivative contract, that under the Commodity Exchange Act can only be regulated by the CFTC, which had granted the company a license to operate a designated contract market (DCM).The ruling was in line with the position advanced by the CFTC under Donald Trump’s administration. The regulator sued Arizona, Connecticut, and Illinois last week to prevent them from pursuing what it called unlawful efforts to regulate prediction markets.“Congress gave the CFTC exclusive jurisdiction over trades on DCMs, and this decision affirms the goals of Congress,” said Brooke Nethercott, a CFTC spokesperson.However, US circuit judge Jane Richards Roth dissented, saying Kalshi was facilitating gambling and that its “offerings were virtually indistinguishable from the betting products available on online sportsbooks, such as DraftKings and FanDuel”.The New Jersey attorney general's office said it was evaluating its options, including potentially asking the full third circuit to rehear the case.

The world of Major League Baseball has witnessed a significant transformation in pitching, with velocity and accuracy reaching unprecedented levels. This arms race is largely attributed to advances in pitching analytics, often developed by individuals without a traditional baseball background.Rob Friedman, known as PitchingNinja online, has authored a new book titled 'Unhittable: How Technology, Mavericks and Innovators Engineered Baseball's New Era of Pitching Dominance.' The book explores how technology and data analysis have revolutionized the art of pitching.In the past, pitchers like Bob Feller were renowned for their speed, but today's pitchers routinely exceed triple digits on the radar gun. Friedman notes that technology brings out the best in everybody, allowing pitchers to refine their skills and achieve remarkable results.The use of heat maps, slow-motion cameras, and AI has become commonplace in analyzing pitching performance. These tools help quantify not just velocity but also accuracy, enabling pitchers to deliver the ball to the plate with precision.Paul Skenes of the Pittsburgh Pirates, last year's National League Cy Young winner, and Nolan McLean of the New York Mets are examples of pitchers benefiting from analytics. Friedman praises McLean's exceptional skills, describing his stuff as 'absolutely nasty.'The debate surrounding pitcher-friendly conditions continues, with some arguing that the game has become too favorable to pitchers. Friedman counters that pitchers are on offense, and their performance is a reaction to the hitter's actions.Injuries to pitchers are on the rise, and while there is no consensus on the cause, Friedman suggests that excessive velocity may contribute to the problem. He cites Trevor Bauer as an example of a pitcher who successfully adopted analytics and training methods to enhance his performance.The intersection of analytics and tradition remains a contentious issue, with some players and coaches skeptical of data-driven approaches. Friedman advocates for a bridge between both sides, emphasizing that analytics provide valuable information to inform pitching decisions.

The wait is over for fans of medical dramas, as The Pitt has landed on HBO Max. This 15-episode series, which follows the lives of medical staff in a Pittsburgh hospital, has been generating significant buzz since its release in the US last year.Produced by the same team behind the groundbreaking series ER, The Pitt stars Noah Wyle, known for his iconic role as Dr. John Carter in ER. Wyle plays Dr. Michael 'Robby' Robinavitch, a senior attending physician struggling with PTSD after the loss of his mentor during the pandemic.Each episode covers a single shift in the hospital, delving into the challenges faced by the medical staff as they navigate urgent and complex cases, from gunshot wounds to patients with dementia. The show's pace is more measured than ER, with a focus on character development and nuanced storytelling.The cast is strong, with well-developed characters and backstories that add depth to the narrative. Showrunner John Wells handles the large ensemble with skill, and Wyle is a rock-solid presence at the center of the show.The Pitt explores themes that are both timely and timeless, including the US healthcare system's flaws and the personal and professional struggles of medical staff. With its gripping storylines and strong performances, this series is sure to captivate audiences and leave them eager for more.

A new and disturbing trend in scams, known as 'friendship fraud,' is on the rise, specifically targeting older people who are lonely or bereaved. This type of scam involves criminals using social media platforms to build relationships with potential victims, often over a long period, before requesting money for various reasons. The scam typically begins with a connection on social media, where the fraudster will research and tailor their initial messages to appear as though they share common interests with the victim. Once a level of trust is established, the scammer will begin to make requests for money, often for small amounts or seemingly urgent needs. According to TSB, the average amount lost by victims of friendship fraud is £3,100. In some cases, victims have lost as much as £4,000 or more over several years. The fraudsters often request payments through bank transfers or gift cards, making it difficult for victims to recover their losses. Experts warn that older people who are lonely or bereaved are particularly vulnerable to these scams, as they may be more desperate for human connection and more likely to trust someone who appears to share their interests. Caroline Abrahams of Age UK describes the fraud as 'especially horrible and insidious,' noting that it can have devastating consequences for victims, including financial loss, health issues, and a breakdown in trust. To avoid falling victim to friendship fraud, experts advise severing contact immediately if someone you met online requests money. If you suspect you or someone you know has been targeted, report it to Report Fraud and discuss it with your bank. Documenting all interactions with the scammer can also help in efforts to recover losses or prosecute the fraudster.

A meteorite event occurred over Ohio on Tuesday morning, producing a significant sonic boom that was felt across a wide area, including parts of Pennsylvania. According to NASA, the meteorite entered Earth's atmosphere at approximately 9 am local time. The meteorite, described as a small asteroid about 2 meters in diameter and weighing around 6 tons, moved at a speed of 45,000 mph. This event caused widespread reports of a loud boom, with residents in Cleveland and as far east as Pittsburgh, Pennsylvania, and into New York state, describing the sound as similar to fireworks or thunder. NASA's meteoroid environment office confirmed that the asteroid was spotted near Medina, Ohio. Despite its relatively small size, the meteorite produced a considerable sonic boom, which was captured on video by a National Weather Service (NWS) employee in Pittsburgh. The NWS's Cleveland office confirmed that satellite data suggested the boom was caused by a meteorite. So far, there have been no reports of debris being found, although it's possible that small fragments may have fallen to Earth. NASA noted that about 17,000 meteorites fall to Earth annually, but most burn up in the atmosphere. The agency also stated that space rocks smaller than a football field typically break apart in Earth's atmosphere, although they can occasionally explode in mid-air.