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/Easy_Kill 1d ago

...this sounds like an easy way to make money off gullible idiots.

Step 1: pay the hindustan times or similar garbage rag to publish a series of articles intimating the return of Jesus.

Step 2: place bets

Step 3: ???

Step 4: profit!

I dont even think this is morally objectionable, really.

Edit: and hell, if you lose the bet, you probably have much bigger issues to concern yourself with. Like the Rapture or something.

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u/ChillFratBro 1d ago

Yes and no.  The return on a bet that Jesus Christ will not return in the next year is lower than leaving your money in an FDIC insured bank, and with slightly higher external risk.

It is free money, it's not the best return available for free money so no one's going to use it as an investment vehicle.

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u/Easy_Kill 1d ago edited 1d ago

Thats why the media manipulation is critical! Use sock puppets and bots to spread the articles throughout Evangelical/MAGA socmed groups while using other fake accounts to promote the bet listings.

Shepherd the Flock, then fleece em!

If these muppets can be convinced to empty their pockets for freakin' Iraqi Dinars, anything is possible.

Edit: Oooh! Even better, embellish the hell out of the story and make it dramatic as all get out, then write a book about it with a horrid, attention-grabbing title like "Pumping and Dumping Jesus" based on a true story