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A Detroit business owner will soon face city scrutiny after permitting crypto-based prediction market platform Polymarket to paint an advertisement on a water tower located on his industrial property.
The Detroit Free Press reported on Wednesday (Sept. 16) that a water tower located northeast of the downtown city was recently painted and branded with Polymarket’s likeness. The water tower is located just off Interstate 94 at Mount Elliott Street, Exit 217.
The water tower is specifically located at the business of Mount Elliott Crushing, a recycler of concrete products. While the water tower is on private land, the City of Detroit requires that permits be secured for advertisements on such structures.
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Fred Done, the 83-year-old founder of Betfred and Britain’s highest-paying taxpayer this year, has issued a stark warning about the impact of further tax increases on the gambling industry.
In an interview with the Financial Times over the weekend, Done cautioned that additional tax hikes could result in widespread betting shop closures, harm related sectors such as horse racing and accelerate the decline of the high street.
Betfred currently operates approximately 1,094 retail shops across the UK. Done highlighted the concrete risks of Machine Gaming Duty – taxes on gambling machines – doubling from 20% to 40%, a move reportedly under consideration by Chancellor John Healey ahead of the Autumn Budget.
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Raja denies wrongdoing and maintains there was no fraud or dishonesty.
MFS operated as a non-bank lender—often termed a “shadow bank”—that borrowed funds from institutional investors to finance property loans for its clients.
The company experienced rapid expansion prior to its collapse, with its loan book reaching approximately £2.4 billion ($3.2 billion) by the end of 2024. Its creditors included major international financial institutions and private equity firms.
