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New York
281 posts
Polymarket is suddenly worth $21bn, and the hardest question is whether prediction markets are finance or gambling
Polymarket is seeking about $1 billion at a $21 billion valuation, with 1789 Capital committing roughly $300 million. The financing values the prediction-market platform at less than rival Kalshi but implies a paper value of about $4.6 billion for Intercontinental Exchange’s reported 22% stake. The harder question is whether billion-dollar annualised revenue can survive state-level legal battles, market-integrity scrutiny and a shift from speculative trading toward institutional financial infrastructure.
Maed expands Sephora footprint by 36% as self-funded beauty strategy gains traction
Maed is expanding from 80 to 109 Sephora stores without outside funding, testing whether disciplined beauty growth can survive rising inventory needs.
Purple Style Labs has luxury-sized orders and luxury-sized losses, now its Rs 680cr IPO faces the profitability test
Purple Style Labs enters the IPO market with luxury-fashion GMV growing 23% and average orders above ₹75,000, but FY26 losses widened sharply. With most of the ₹680 crore fresh issue directed toward lease liabilities and marketing, investors are being asked to fund the economics of an omnichannel retail model before profitability has been established.
Shield Therapeutics (AIM: STX) cuts H1 loss 76% as revenue rises 42% to $30.4m
Group revenue reached US$30.4 million and the loss narrowed to US$2.3 million, but Accrufer prescription growth of 21% translated into only 5% US product-revenue growth as net pricing weakened.
New York boosts Capitol security after authorities disrupt alleged ISIS-inspired terror plot
FBI disrupts an alleged ISIS-inspired plot to bomb the New York State Capitol as authorities charge an Albany woman and tighten security.
Goldman Sachs to buy LCN Capital Partners in up to $410m sale-leaseback deal
Goldman Sachs is paying up to $410m for LCN Capital Partners, adding a $3bn sale-leaseback platform in its second asset management deal in ten days.
Luigi Mangione admits shooting UnitedHealthcare CEO as federal case ends without trial
Luigi Mangione admits killing Brian Thompson and pleads guilty federally as a new double-jeopardy fight threatens his New York murder trial.
Titan Mining shares jump 10% as zinc profits strengthen U.S. graphite expansion
Titan Mining revenue jumped 57% as zinc profits strengthened its U.S. graphite push. See why shares surged and Kilbourne matters.
Goldman Sachs strikes $2.25bn deal for options ETF specialist NEOS
Goldman Sachs will pay up to $2.25 billion for NEOS as active ETF flows heat up, but the price sets a high bar for what the deal delivers by 2027.
GlobalFoundries lifts Q3 outlook as AI photonics demand strengthens
GlobalFoundries raised its revenue outlook as AI photonics and wafer demand strengthened, but heavy investment limited free cash flow.