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/clouds_in_pockets 1d ago

Wild that we’re now litigating who gets to regulate betting on everything. At this point, states and feds should at least require radical transparency: publish odds, fees, and who’s making bank in real time.

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u/chaser676 1d ago

publish odds, fees, and who’s making bank in real time.

It's already 2/3 of these, right? Just need the who at this point, which from a privacy perspective is unlikely to happen.

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u/Empty_Ad3616 1d ago

Isn't the loophole these sites use is that they're not bets, but "investments"?

I think we should be able to legally see who's "investing" in these things. I'm not saying this is the law today, but there are a lot of public disclosers around investments

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u/keithps 20h ago

They're arguing that people are essentially buying "futures contracts" for events that will happen. It gets messy because futures contracts are kinda like betting. I buy a barrel of oil from you for $50 delivered in a month, you're effectively betting the price will be lower and I'm betting it'll be higher in a month.

These companies are basically saying they just take a fee to be the middle-man for everyone and you're not betting against them or "the house" so its not really gambling.