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.
gambling
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 inLaw and Justice
Economic Hit Men for Gambling Apps
Former solicitor general Elizabeth Prelogar is writing justifications for prediction market gambling apps, joining several Biden administration colleagues defending the industry.
Posted inEconomic Policy
This Is the Worst Argument for Prediction Markets
Putting a market price on some prediction does not make it a ‘truth machine.’
Posted inPodcasts
Organized Money: The Business of Betting on Murder with Sen. Chris Murphy
Bet you can’t guess who is insider trading the Iran War.
Posted inLaw and Justice
Prediction Markets May Have Inadvertently Outed Themselves as Casinos
By intervening in individual bets, companies like Kalshi and Polymarket are not acting as neutral market makers, as they have claimed in litigation.
Posted inSports
The Scourge of Online Sports Betting
States and leagues must face up to the damage from app-based gambling for the next generation of bettors, most of them young men.