Businesses could qualify for one more month of rent relief as program extended

Broadening prediction-market gambling a bad idea

Let’s make a prediction: sooner or later, when Canadian governments find a way to take their own cut of the action, prediction-contract gambling on everything from sports to entertainment to political decisions is going to come to Canada.

And that’s a horrible, dangerous, pernicious idea.

Unless you have particular access to information — either inside information or strategic information based on skills or education — you’re not likely to make money at it. In fact, structurally, you’re likely to lose. In prediction markets, you basically pay an amount, plus fees from the company involved, to bet on whether something will or will not happen within a certain time frame. The amount you pay for your contract depends on how other people are also betting.

As Wealthsimple describes it, “You buy whichever side you think is right. Prices move with demand, so if the market leans towards one outcome, the more that side costs. If a lot of people are backing the TSX to finish above 38,000, yes gets more expensive and no gets cheaper.”

Olympics overnight: Synchro divers spring to silver, while Penny Oleksiak powers relay team to Canada’s first medal in Tokyo

Here’s what you missed overnight and need to know about the 2020 Tokyo Olympics this morning.

Musk’s gambit unlikely to end well

Elon Musk is that rarest of things, a benign sociopath, and therefore a person of considerable value to the world. He has just made a mistake that could ruin his long-term plan, for his purchase of Twitter is almost bound to end in tears. The sharks are always circling the very rich and highly geared, and I find myself worrying about him.

Educational drone survey of canopy targets sick trees

Drones could help save Winnipeg’s elm trees from being tagged with a fatal orange mark, owing to the work of experienced pilots and their student assistants.

Throughout the 2021-22 school year, Volatus Aerospace Corp., a so-called “drone solution company,” has recruited high school students to take part in a research project that aims to streamline canopy surveillance in Winnipeg.

City employees typically survey trees for Dutch elm disease either on foot or by driving past them. It’s a laborious process — and by the time a human eye can spot wilting, curling or yellowing leaves, it may be too late to reverse the damage caused by the fungal infection.

In partnership with the City of Winnipeg, University of Winnipeg and Seven Oaks School Division, Volatus is using drone technology to try and speed up the diagnosis process.

Province has provided $20M in flood relief so far, infrastructure minister says

The province has sent out $20 million in relief to Manitobans and municipalities affected by severe flooding in several communities in June and July, Transportation and Infrastructure Minister Lisa Naylor told MLAs Thursday.

Naylor said the government received more than 2,400 applications for financial assistance from residents and businesses, plus applications from 64 local authorities.

Provincial staff have so far processed more than 2,000 applications, she said.

Manitoba offered financial assistance after many homes and businesses were inundated, swathes of farm land were submerged and municipal roads and provincial highways were washed out by overland flooding from western Manitoba to the Interlake.