3 ms·
I'm curious to see how this works out, because sports betting is _not_ in the CFTC's remit, and Kalshi etc's argument that states can't regulate them because th
by ranger207 5mo ago
I'm curious to see how this works out, because sports betting is _not_ in the CFTC's remit, and Kalshi etc's argument that states can't regulate them because they're not technically sports betting is contrary to the spirit of the law
- nojito 5mo agoThere’s no “house” or “book” aspect to Kalshi. They are nothing more than contracts that are bought and sold between individuals.
- SoftTalker 5mo agoHow do they make money?
- nojito 5mo agoJust like other exchanges. They charge trading fees.
- hilariously 5mo agoWhat about the special partners that put up bets that are basically just methods to launder the fact that there's a house?
- dymk 5mo agoThey also place their own bets within their own market. They don't just make money on trading fees.
- loeg 5mo agoKalshi does not trade against its users.
- dymk 5mo agoThat's their PR department talking. https://straighttothepoint.substack.com/p/you-cant-have-it-both-ways https://straighttothepoint.substack.com/p/you-cant-have-it-b... https://www.sportico.com/business/sports-betting/2025/kalshi-trading-exchange-peer-house-1234870465/ https://www.sportico.com/business/sports-betting/2025/kalshi...
- tantalor 5mo agoKalshi definitely does this They just don't make any money off it.
- nojito 5mo agoA different entity provides liquidity. There’s no house like in sportsbooks.
- jeltz 5mo agoAnd there is no house in pool betting, poker or backgammon either. We still count all of them including betting exchanges (what has now been rebranded as prediction markets) are still normally regulated as gambling.
- nojito 5mo agoNot in the US.
- tsimionescu 5mo agoIs there any state that allows organized poker tournaments, but not gambling or sports betting?
- usefulcat 5mo agoSounds like a glaringly obvious conflict of interest?
- CyberDildonics 5mo agoOf course it is, people will do whatever they can get away with.
- msandford 5mo agoBe careful, the market makers always win. If you go against them, you make yourself a target.
- tshaddox 5mo agoLots of types of contracts bought and sold between individuals are prohibited by law.
- tantalor 5mo agoThey problem is the federal government considers these particular contracts are generally legal, and the states have no authority.
- jeltz 5mo agoHave you heard of Betfair? A UK company which has done "prediction markets" since 2000. In the Europe it is called a betting exchange and regulated like sports betting. And betting pools is another form of betting which is way older than that and there are no house in them either. And by your argument poker or backgammon would not be gambling either.
- nojito 5mo ago>And by your argument poker or backgammon would not be gambling either. They aren't. A sportsbook explicitly sets lines and you are betting that the line they set is incorrect.
- cortesoft 5mo ago> because sports betting is _not_ in the CFTC's remit Traditionally it has not been, but the current CFTC says that 'prediction bets on sports' ARE under their purview. This has not been fully challenged in court, though.
- oatmeal1 5mo agoIf Congress intended for the CFTC to regulate sports betting, it would have had that language in the act that originated the agency. It's telling that only recently the CFTC has discovered such authority. No previous leadership of the CFTC read the act to mean what the current leadership thinks it means.
- Spooky23 5mo agoThis is 2026. We don’t need your stinking laws.
- jeltz 5mo agoWhat if CFTC would start to claim they are allowed to regulate online casinos or online poker? I feel that would be about as non-sensical.