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An important distinction is that if you are an asset manager (i.e. gambler with other people's money), you aren't allowed on traditional betting platforms--only
by kolbe 4y ago
An important distinction is that if you are an asset manager (i.e. gambler with other people's money), you aren't allowed on traditional betting platforms--only SEC and CFTC approved ones. Now you can bet on political outcomes with other people's money.
- deleted 4y ago[deleted]
- danielmarkbruce 4y agoAsset managers aren't restricted to trading things on exchanges unless their docs explicitly say so. Many hedge funds place bets directly with investment banks, through exchanges in the US, overseas exchanges etc.
- kolbe 4y agoHedge Funds were more or less created for the express purpose of getting around restrictions that traditional asset management structures place on fund usage. But yes, Hedge Funds, Private Equity, Venture Capital and Family Offices can basically do whatever they want within the confines of their investor agreements.
- danielmarkbruce 4y ago"traditional" = funds holding publicly listed stocks and bonds? Basically, mutual funds? If that's it, there isn't a "traditional" asset manager that is going to Kalshi to put bets on events. Note in the post - the buyers who head to goldman to get exposure through a basket of positions are not "traditional" asset managers. Put another way - the relevant asset managers were not restricted.