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About Fire Stampede Ultimate
In March, Polymarket opened The Situation Room, a pop-up “newsbar” in Washington, DC. The bar and lounge’s televisions played various content related to prediction markets, like Bloomberg Terminals, cable news, and live social media feeds that were “dedicated to monitoring the situation.”
A month earlier, Polymarket opened a free grocery store in New York City. The promotion ran Feb. 12-16, with shoppers allowed to gather up to $50 per person in free groceries.
More recently, Polymarket has paid top dollar for prominent athletes and celebrities to promote its prediction market. The company’s paid partners include LeBron James, Derek Jeter, Eli Manning, Spike Lee, and Craig Robinson.
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Atucha praises the regulation and the regulators themselves for making entry into the market easy, as well as allowing them to be competitive against illegal operators. But the market hasn’t been without its challenges.
A 1% selective consumption tax (ISC) on the value of every online bet has been in force since 1 July 2025, after the original policy was scrapped from proposed regulations in July 2021.
Atucha warns that regulations are often perceived as operator-friendly at the start before governments begin looking to squeeze licensed sectors, likening the process to “boiling a frog”. He has observed similar scenarios in other LatAm markets, with tax increases occurring in Brazil, Colombia and Mexico in the last couple of years.
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Sun International remains committed to improving its SunBet product after the product produced strong H1 earnings for the wider online business.
The operator yesterday reported that Rrvenue from SunBet surged 35.5% year-on-year to R1.18 billion ($73.6 million) across H1, outpacing the 19% overall growth of South Africa’s online market during the period.
Online growth drove Sun International’s group income up 7.4% to R6.58 billion during H1 when excluding the Table Bay Hotel (TBH), which the company is running under a management agreement with IHG.