Kalshi claims its peer-to-peer market structure makes it more fair than traditional sportsbooks. But users often face an opponent even more formidable than a traditional house: Wall Street.
Eleanor Davis-Diver
Eleanor Davis-Diver is an editorial intern at The American Prospect.
Posted inEconomic Policy
The Best Protection Against Financial Crises Is Being Destroyed
When Wall Street blew up the economy, they were forced to cut back on risky borrowing. Now those restraints are being ripped away.
Posted inMoney, Politics, and Power
Crypto Democrats Are Ghosting the Industry
The Senate punted a vote on the crypto industry’s top priority to September, which doesn’t bode well for the industry’s legislative agenda or their key alliance with certain moderate Democrats.
Posted inTechnology
Crypto Boosters See a Lack of CLARITY
After spending hundreds of millions on Congress to advance their market structure bill, the CLARITY Act, the crypto industry faces one giant obstacle: Donald Trump’s corruption.
Posted inEconomic Policy
The CFTC’s Word Games Legalizing Gambling
The regulator’s proposal for online prediction markets stands in clear opposition to congressional statute and its own rulemaking.
Posted inMoney, Politics, and Power
The Project Crypto Scheme
Forget deregulatory legislation; the SEC and CFTC are already working diligently to eliminate regulatory oversight of crypto at the behest of their president.
Posted inEconomic Policy
Crypto Industry Gets Its Way on GENIUS Act Rulemaking
The primary federal regulators of stablecoins are finalizing their rules for GENIUS Act implementation and, much to the chagrin of the banking industry, crypto firms are getting everything they want.
Posted inEconomic Policy
Elon Musk Is About to Make Saving for Retirement Even Harder
The upcoming SpaceX IPO will make investing in index funds for retirement worse, while Musk and friends rake in millions.