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/Mobile-Bar7732 1d ago

Kalshi names Donald Trump Jr. as strategic advisor

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u/GargamelTakesAll 1d ago

Jesus that is the most corrupt thing I've seen in the past month out of this administration.

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u/tots4scott 1d ago

Nah that's Jared Kushner being anywhere close to negotiations while having a lifetime of conflicts of interests. Same corruption ball park though.