Sports gambling is controlled by FTC in the US. Prediction markets like Kalshi and Polymarket found a loophole where they can run gambling operations under CFTC and and not be controlled by FTC. There needs to be some legislative actions from the Congress to close the loophole.

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stefs 2 hours ago | parent | next [-]

> Congress to close the loophole

But i think one of the prediction markets more important uses is to enable insider trading for the current administration.

	▲	bluecalm 2 hours ago \| parent [-]
		It's a lazy argument imo. As corrupt as they might be there is way more money to make in the stock market or bond market if you have insider info. There is little reason for them to go after peanuts in the prediction markets.

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dylan604 an hour ago | parent | prev | next [-]

What are the odds on the prediction market that this will happen?

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freejazz an hour ago | parent | prev [-]

Nothing needs to be done, Kalshi has no loophole. The Ninth Circuit ruled on exactly this last week.

	▲	esalman 10 minutes ago \| parent [-]
		Incorrect. Ninth circuit ruled in favor of Nevada State, but earlier this year third circuit ruled in favor of Kalshi. So it's going to the Supreme Court. All of the above is completely independent from what Congress can or cannot do.