Infantino Retreats, Iran's $4B Crypto Network & Kalshi's Legal Showdown

The Smashi Business Show · Aug 1, 2026 · 4m

FIFA President Gianni Infantino has abandoned a controversial $20 billion World Cup investment plan after a revolt led by football's biggest governing bodies. Meanwhile, a Reuters investigation has uncovered an alleged $4 billion Iranian gambling network that moved funds through a Dubai-linked cryptocurrency exchange, while New York has sued Lebanese-founded prediction market giant Kalshi, accusing it of operating an illegal gambling platform. Three stories examining the intersection of governance, regulation and the future of global finance, technology and sport.