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.
financial industry
Posted inTAP
How the Cost of Money Spikes Inflation
Government borrowing costs are going through the roof—and so are yours and mine.
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 inEconomic Policy
The AI Bailout Could Be Baked Into the AI Bubble
Private credit companies are key owners of AI-related assets. Many of their parent private equity firms own life insurers that are dumping grounds for bad loans—and subject to state bailouts.
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 inWorking in America
A Great Economy Unless You Have to Work for a Living
The gap between investment income and work income has never been so glaring.
Posted inTechnology
The Great AI Repricing Isn’t Going Well
Companies are backing off on their AI spending. Because investors have made such big bets on AI coming to fruition, that’s a big problem.
Posted inMoney, Politics, and Power
Not All Nepo Babies Are Trumps
DSCC chair’s 22-year-old son strikes it big in pursuit of further gamifying finance.
Posted inMoney, Politics, and Power
The War of Capital
Asset managers, private investment firms, and institutional investors like pension funds have divergent interests, though as the SpaceX IPO reveals, the money power acts in concert.
Posted inEconomic Policy
Greenspan Was the Creator of His Own Disaster
The former Fed chair, who died at the age of 100 this week, deliberately engineered financial markets to be faster and looser. Then they blew up.