> Gambling refers to taking on risk for the feeling it brings.

Is there much of a difference when it comes to placing bets on the news?

To play off the article's opening example: investing in mineral exploration in Greenland, with an American invasion opening up opportunities for resource extraction, would be taking a risk with an unknown payout due to imperfect information. That is to say, it is taking a risk to build a business. A business where the payout may exceed what is going in. Betting on the news is just an exchange of money, with the intermediary taking a cut. Risks are being taken, but no value is being created. It is all about emotional involvement.