The Hound | April 29

Journalism needs to excise prediction markets from coverage, FCC targets ABC's broadcasting license, FIFA teams receive exemption after outreach to Treasury.

April 29, 2026

Hi there,

It’s Wednesday. Head of the FCC, Brendan Carr, is reportedly prepping a review of Disney’s broadcast licenses, a massive escalation against ABC’s parent company in the feud between Jimmy Kimmel and the Trump family. After FIFA spoke with the US Treasury, all World Cup teams are poised to receive a tax exemption. And the growing integration of prediction markets and betting platforms into news coverage is blurring the line between journalism and gambling.

Partnerships with companies like Kalshi and Polymarket risk turning reporting into speculation, where the incentive is no longer to inform the public but to drive engagement, wagers, and profit. This is not innovation—it is a fundamental shift in what journalism is for. When news organizations embed betting odds into reporting or align themselves with platforms that profit from political outcomes, they risk undermining credibility, distorting incentives, and turning democratic processes into games of chance.

Journalism’s role is to inform and hold power accountable—not to encourage gambling on the outcomes of democracy.

Read about this, and more, with today’s stories:

Until next time,

Harry from The Hound

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