White House staff told not to place bets on prediction markets
1–10 of 89 posts
Re: White House staff told not to place bets on prediction markets
#2Whew! Glad that's sorted.
Re: White House staff told not to place bets on prediction markets
#3Surely half millions on prediction markets is pennies compared to what is getting made on oil futures/stocks.
Re: White House staff told not to place bets on prediction markets
#4Surely half millions on prediction markets is pennies compared to what is getting made on oil futures/stocks.
You’d think so, but these types of people are afraid of stocks or options and find prediction websites easier to use.
Re: White House staff told not to place bets on prediction markets
#5It’s laughable that it’s even necessary to tell them.
Hey don’t abuse privileged workplace information for personal gain isn’t exactly a fresh notion.
Imagine if professionals like lawyers and accountants operated like that.
Re: White House staff told not to place bets on prediction markets
#6It is understandable that they require coaching on this issue when betting markets are being deregulated and Trump Jr. is invested in Polymarket.
Re: White House staff told not to place bets on prediction markets
#7I'm sure it's a preventive measure and no one placed bets to enrich themselves in the last 12 months...
Re: White House staff told not to place bets on prediction markets
#8*unless they give the big guy a 50% cut
Re: White House staff told not to place bets on prediction markets
#9Surely half millions on prediction markets is pennies compared to what is getting made on oil futures/stocks.
It is easier for the SEC to investigate futures, stocks & options. Some of the prediction/gambling markets use crypto and do not participate in "Know Your Customer" regulations.
Re: White House staff told not to place bets on prediction markets
#10Investor highlights for each platform:
Kalshi: Sequoia Capital, Paradigm, Andreessen Horowitz (a16z), Y Combinator, Charles Schwab, Henry Kravis (KKR), and CapitalG (Alphabet).
Polymarket: Intercontinental Exchange (ICE - parent of the NYSE), Founders Fund (Peter Thiel), Vitalik Buterin, and 1789 Capital (Donald Trump Jr.).
PredictIt: Primarily supported by Aristotle International (a political tech firm) and historically Victoria University of Wellington.
Donald Trump Jr.: Prominent investor in Polymarket through his firm, 1789 Capital, and serves as a paid strategic advisor to Kalshi.
The current CFTC Chairman, Michael Selig, created a 35-member panel to draft new regulations for prediction markets. This panel includes the CEOs of the platforms they regulate, such as Shayne Coplan (Polymarket) and Tarek Mansour (Kalshi).