What an FBI Probe Into Illegal Betting Means for the NBA

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 23 October 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Oct. 23. More than 30 people, including Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier, were charged today in an investigation into illegal gambling, rigged poker games, and match-fixing in the NBA. We hear from WSJ sports reporter Jared Diamond about what this means for the league, and the role that legal gambling platforms may have played in the alleged crimes. Plus, in an exclusive, we report that President Trump has pardoned Binance founder Changpeng Zhao, which may pave the way for the world’s largest crypto exchange to return to the U.S. And struggling food company Beyond Meat became one of the most traded stocks in the U.S. yesterday. WSJ markets reporter Hannah Erin Lang joins to discuss why the company’s stock is the latest to become a meme, and what it means for the company in the long term. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Remax Collection.
0:02.4	Visit remax.com slash luxury.
0:04.5	Each office independently owned and operated.
0:10.6	Federal prosecutors charge more than 30 people,
0:13.6	including a current NBA coach and player,
0:16.2	as part of an investigation into illegal gambling.
0:18.7	This is a complete disaster for the NBA.
0:22.5	Really one of the biggest gambling scandals in the history of American sports.
0:27.2	There's really no other way to put it.
0:29.6	Plus, President Trump pardons finance founder, Chang Peng Zhao.
0:33.7	And is it 2021 because meme stocks are back?
0:38.0	It's Thursday, October 23rd.
0:40.2	I'm Alex Osala for the Wall Street Journal.
0:42.7	This is the PM edition of What's News,
0:45.2	the top headlines and business stories that move the world today.
0:53.3	Portland Trailblazers head coach Chauncey Billups and Miami Heat Guard Terry Rozier
0:58.3	were each arrested this morning in connection with a sweeping investigation into illegal gambling and rigging games in the NBA.
1:06.0	That's according to several people familiar with the matter.
1:08.9	Speaking at a press conference today, FBI director Cash Patel offered some details about the alleged crime ring.
1:14.9	The fraud is mind-boggling.
1:17.3	It's not hundreds of dollars.
1:18.8	It's not thousands of dollars.
	...

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