“It’s honestly been eye opening (in a bad way) to see how special interests work in our system” says the Head of Politics at Kalshi, which pays Donald Trump Jr. to sit on its advisory board and has spent over a million in lobbying over the past ~year. The government has just filed a lawsuit to intervene to protect Kalshi from several state regulators.

#Kalshi

Prediction Markets Cast Shadow Over Tribal Gaming Landscape

Tribal gaming leaders say prediction markets are an 'existential threat' to their operations and sovereignty, leading to legal challenges.

#TribalGaming, #PredictionMarkets, #GamingLaw, #Sovereignty, #Kalshi

https://newsletter.tf/tribal-gaming-threatened-by-prediction-markets/

Prediction markets are seen as a new, unregulated form of gaming, challenging the decades-old tribal gaming industry.

#TribalGaming, #PredictionMarkets, #GamingLaw, #Sovereignty, #Kalshi
https://newsletter.tf/tribal-gaming-threatened-by-prediction-markets/

The CFTC (the US commodities regulator) has just sued (https://www.cftc.gov/PressRoom/PressReleases/9206-26) Arizona, Connecticut, and Illinois for their efforts to "outlaw, regulate, or otherwise restrain" prediction markets like Kalshi.

This is another escalation by newly appointed CFTC chair Mike Selig (and sole Commissioner at the agency), who has taken it upon himself to assert the CFTC's sole regulatory authority over prediction markets. Recently, the CFTC filed a supporting brief in Crypto .com's lawsuit against Nevada.

As I wrote then (https://www.citationneeded.news/issue-101/#cftc), "Since the CFTC has filed no enforcement actions against prediction markets after embracing the sector following Trump’s election, Selig’s jurisdictional claim seems designed to shield the sector rather than regulate it."

Nevertheless, the CFTC's press release accompanying these lawsuits claims that state regulatory intervention could result in "poorer consumer protection and increased risk of fraud and manipulation".

#PredictionMarkets #Kalshi

Modern Day Robin Hood? Kalshi Is Giving War Profiteering Back to the Little Guy

https://fed.brid.gy/r/https://thehardtimes.net/blog/modern-day-robin-hood-kalshi-is-giving-war-profiteering-back-to-the-little-guy/

#SethMoulton raises concerns about media ties to prediction markets, questioning a CNBC partnership with #Kalshi and warning it could influence coverage. He suggests limits on what journalists can bet on, putting focus on media ethics and #Media.

In the clip, Moulton says, “we do have a partnership with Kalshi here at CNBC,” adding that “maybe that’s something that should be banned in the future.... https://instagr.am/p/DWmJofQRwHi/

Ashley Splawinski looks at the Kalshi and Polymarket betting markets where people have made money betting on who will be killed next and when, and explains why we're not likely to see much regulation of those markets soon.

There's the fact that Donald Trump Jr. is on Polymarket's advisory board and is a strategic advisor with Kalshi.

#Polymarket #Kalshi #betting #gambling #futures #InsiderTrading #Trump #Iran #war
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https://donmoynihan.substack.com/p/the-polymarket-nobody-knows-how-to