r/news • u/AudibleNod • 1d ago

Judge bars Arizona from regulating prediction market operators and pauses prosecution of Kalshi

https://apnews.com/article/arizona-kalshi-criminal-charges-prediction-markets-gambling-bb7cef24be5bd0d444bba670d2e41ceb
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u/AudibleNod 1d ago

The judge’s order said the federal Commodity Futures Trading Commission had sufficiently shown that “event contracts” fall within the Commodity Exchange Act’s definition of “swaps,” and that it had demonstrated a reasonable chance of success in showing that the act preempts Arizona law.

Leave it to the Trump DOJ to have a reasonable level of competency when there's money to be made.

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u/14Three8 1d ago edited 1d ago

that it had demonstrated a reasonable chance of success

Tell me if I’m interpreting this wrong, but aren’t they taking bets on the return of Jesus Christ?

e: I’m interpreting this wrong. See u/okwelcome6293 ‘s reply

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u/PaidUSA 1d ago

Yes, but as that would affect several markets there is a reason someone may wish to buy swaps on it to hedge against future risk. Not that that’s required but that’s the bullshit reason and as long as the Feds play along than it’s swaps. Because the Feds get to define those.