🗳️ Robinhood Launches US Election Betting

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Robinhood users can now bet on the Trump-Harris election

• iOS 18.1 goes live with Apple Intelligence

• Meta is building its own AI-powered search engine

Let’s dive in!

STORIES MAKING A SPLASH

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Robinhood users can now bet on the Trump-Harris election

Robinhood is entering the prediction market, now allowing U.S. citizens to trade contracts on the 2024 presidential election. Starting Monday, users can place bets on Kamala Harris or Donald Trump through Robinhood’s Derivatives unit in partnership with Interactive Brokers’ ForecastEx.

This move follows Kalshi’s recent victory over the Commodity Futures Trading Commission, which had attempted to halt election betting. Interactive Brokers and other platforms quickly joined in, introducing political contracts that let users bet on the election outcome.

These markets have sparked concerns about manipulation; for example, a recent Polymarket investigation linked a single French user to large Trump contract purchases. Robinhood, however, asserts that these contracts offer a new way for people to engage in real-time, democratized decision-making.

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iOS 18.1 goes live with Apple Intelligence

The wait is over with the release of iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1, marking the debut of Apple Intelligence. While minor updates are typical for point-one versions, this release introduces significant AI features that were missing from the iPhone 16 launch. Only the iPhone 15 Pro, Pro Max, and the latest models support these innovations.

Apple Intelligence includes generative AI tools for writing assistance, live transcriptions for calls, and automated summaries. The Photos app now helps users create memories around special events, enhancing the overall experience.

Siri also receives an upgrade, allowing typed commands and improved understanding of interruptions. Currently available on select devices, Apple plans to expand access globally in December, though regulatory hurdles may slow progress in the EU and China.

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Meta is building its own AI-powered search engine

Meta is developing an AI-powered search engine to reduce reliance on Google and Microsoft, aiming to provide users with AI-generated summaries of current events within its Meta AI chatbot, reports The Information.

Currently, Meta’s chatbot on Instagram and Facebook sources information from Google and Microsoft’s Bing for recent news, but this may shift. Meta’s web crawler has been actively gathering information for the last eight months to build a proprietary data source for its chatbot, potentially challenging Google Maps with its own location data.

Recently, Meta signed a multi-year agreement with Reuters, enabling the chatbot to incorporate Reuters’ news articles in its responses. This step reflects Meta’s broader push to create a self-sustaining AI search tool that could directly compete with Google.

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