Mastodawn

“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.

Molly White 2d ago

He’s unfortunately not wrong that casinos and sportsbooks have been among prediction markets’ strongest opponents — largely because consumer protection agencies have been gutted and market integrity regulators turned into advocates.

@molly0xfff Given the unique status of the orange stain as someone who lost money owning a casino, it stands to reason that this and insider trading are the means his crowd has chosen to institutionalise plunder.

Dave Alvarado 2d ago

@phil_stevens @molly0xfff while "he lost money with a casino" is a funny story, they money wasn't lost. It just wasn't in the casino where the casino could pay its bills.

Glenn Seto 2d ago

@dave @phil_stevens @molly0xfff He had a golden goose die on him because he was too greedy to keep it fed? That's somehow even worse!

@dave @molly0xfff As in the money wasn't lost, just misplaced?

Dave Alvarado 1d ago

@phil_stevens @molly0xfff not even misplaced. Placed in Trump's pocket.

sharifgaza 19h ago

@molly0xfff please help me 🙏

Dan Sugalski 2d ago

@molly0xfff I assume this dude is tweeting just to make sure there's documented proof that some human beings are entirely incapable of understanding irony.

Chuckles 2d ago

@wordshaper @molly0xfff it's kayfabe

Conlan Spangler 2d ago

@molly0xfff Sure, but that doesn’t make Kalshi a *special* interest—it’s just a normal, like, totally chill interest. See the difference?

Orb 2069 2d ago

@molly0xfff now I'm going to have to replace my nice new irony meter. Thanks. :(

Jimmothy Baggins 2d ago

@molly0xfff there is no denying the system is broken. But can I also feel like there is something screwed about allowing people to bet on anything ? And somehow also avoid the “gambling” designation?

Ray McCarthy 2d ago

@molly0xfff
How are so called "prediction markets" better for consumers? They seem like a mechanism for insiders to fleece the naive, or gambling, consumers.

Toni Aittoniemi 2d ago

@molly0xfff Well, they would of course, because the Trump family has invented the infinite money machine:
1) Bet on world politics
2) Change world politics
3) Profit

Kierkethumbs up convincingly 2d ago

@molly0xfff rot salad

@molly0xfff ugh 🙄 Tribal gaming is heavily heavily regulated and these dipshits aren't

and yes multiple sovereign governments can sue your ass

together, simultaneously or serially

this is America!

Raven667 1d ago

@sarae @molly0xfff I'm personally also more sympathetic to allowing tribes to make money and take care of their nation however they can, since there is such a long and sordid history of using every dirty trick in the book, and inventing a few new ones, to destroy tribal economies and make their people destitute.

If letting them fleece money from idiots who can't do math helps make them whole then I'm OK with it

punIssuer 1d ago

@raven667 @sarae @molly0xfff but given the sorry state of education in the USA, it's not really the suckers' fault they are suckers. It's basically letting one disadvantaged minority take advantage of another

@punissuer @raven667 @molly0xfff personally I don't think it's appropriate to talk about "letting" sovereign nations do things

@raven667 @molly0xfff yeah, admittedly I'm biased but I feel like it's only fair if Tribes get white people drunk and take stuff from them

especially given that they're completely transparent about what they're doing

casino money has done a lot of good work in a lot of rural communities, including my own

@molly0xfff REALLY? this is not something i believe.

@molly0xfff but i’m sure you’re correct.