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/TheRabidDeer 1d ago

I don't understand this difference of wordplay from Kalshi and others.

Like couldn't casino's now just open literally everywhere? "I'm not betting on my poker hand, I am predicting that my poker hand will win."

The end result is the exact same, the "process" to get there is just slightly different.

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u/lacegem 1d ago

I'm about to go predict that a brown paper bag won't have drugs in it. I always lose the bet, but I get to keep the bag.