Arizona going after Kalshi

[MinnesotaFats]

Arizona charges Kalshi, alleging illegal gambling with election bets

Kalshi calls Arizona’s case ‘paper-thin’ and says the platform should not be overseen by ‘inconsistent state laws’

www.theguardian.com

Interesting trial. Will have repercussions nationwide.

 

[theriver55]

calm before the storm. Supreme court time?

 

[jjgold]

It’s eventually going to be banned

Follow Nevada playbook and it’s all gone

 

[BobbyFK]

I agree, JJ, I think more states will be cracking down on it sooner rather than later

 

[rickeyphillips]

DraftKings paying off everybody to get this place shuttered in the US. Everybody in Congress getting brown paper bags full of cash this month.

 

[jjgold]

DraftKings paying off everybody to get this place shuttered in the US. Everybody in Congress getting brown paper bags full of cash this month.

yep

all going to be gone, Supreme Couirt will ban it

 

[Ace7550]

Prophetx already got booted out of Cali

 

[Tanko]

Arizona charges Kalshi, alleging illegal gambling with election bets

Kalshi calls Arizona’s case ‘paper-thin’ and says the platform should not be overseen by ‘inconsistent state laws’

www.theguardian.com

Interesting trial. Will have repercussions nationwide.

I'm thinking the courts may rule the state is improperly stepping into federally regulated territory and that these exchanges are controlled by Commodity Futures Trading Commission, not the states.

Currently, the CFTC supports these exchanges but once we have an administration change in 2028, 2032 (?) then the CFTC will back off and these exchanges will be screwed.

The only other way it gets resolved is if Congress steps in and passes some regulations. And since congressman can be bought, the books will spend some money on their campaigns and get the laws they want.

 

[jjgold]

Yes, Go to theSupreme Court and end all this

 

[rickeyphillips]

Think about this for a second, every single one of us here has been gambling for decades. un-regulated. Now think about all these dumb little kids who have no idea you really can’t win. The amount of lives that are being ruined by legalized gambling has to be astronomical.

 

[theriver55]

^ valid point. Bet small, have fun, don't bleed. It ain't EZ. However I will say if betting on credit like in the old days at least now you have to front the coin in advance. So in that respect it's an improvement.

 

[BMR Genie]

https://twitter.com/x/status/2034344439418683644