It seems CNN fails to put their mouth where their money is.
How Kalshi Infects the News
41–50 of 202 posts
Re: How Kalshi Infects the News
#42It's amazing how naked it is that laws just don't apply to certain people. Kalshi et al are obviously gambling, and yet somehow all the laws about gambling have been politely forgotten by law enforcement.
Here at least I believe the gambling laws have changed. Most gas stations I go into now have "gaming" machines and there's always some soul sitting at them at any time of day. I'm mostly on team let-people-do-what-they-want-even-if-it's-bad-for-them but it's disheartening to watch a dad sitting there totally sucked into it and just ignoring their kid in a stroller behind them.
If I ever see that, I'll tell the dad something
Re: How Kalshi Infects the News
#43Earlier quoted context omitted.
It may take awhile, but it ends by voting in political candidates that actually care about combatting greed and corruption again
There is a market for the gamblification of everything because there is no other widely accessible path for young people to build a future. A college degree is no longer a guaranteed path to a stable, well paying job. Building wealth through real estate is no longer viable. With no clear options the only visible path to building a modicum of wealth is timing the next big crypto rugpull, hitting a 5 leg parlay, rippin…
> A college degree is no longer a guaranteed path to a stable, well paying job. Building wealth through real estate is no longer viable.
...and winning a life's fortune via gambling is even less viable. I agree with what you're saying about the lack of guaranteed paths to prosperity but turning to gambling is not a logical outcome stemming from it. There is no logic in gambling at all. It is purely a vice that preys on people's weaknesses.
Re: How Kalshi Infects the News
#44Earlier quoted context omitted.
Unfortunately, the gambling industry is going to have a much wealthier and more powerful lobby than any effort to displace it.
How in the world do we get money out of politics? I want to so so so badly, but I have no idea how to successfully do it. I can't even figure it out as a thought exercise.
I think some places have the government give every party equal (by what measure? I don't remember. Past votes maybe?) money for campaigning and no donations are allowed.
Re: How Kalshi Infects the News
#45Reminds me of news articles that are just Twitter screenshots, except now there's money directly involved.
Btw every ad around the stadium in World Cup is for Kalshi now. Really makes me question the fairness of the games.
Re: How Kalshi Infects the News
#46It's amazing how naked it is that laws just don't apply to certain people. Kalshi et al are obviously gambling, and yet somehow all the laws about gambling have been politely forgotten by law enforcement.
Here at least I believe the gambling laws have changed. Most gas stations I go into now have "gaming" machines and there's always some soul sitting at them at any time of day. I'm mostly on team let-people-do-what-they-want-even-if-it's-bad-for-them but it's disheartening to watch a dad sitting there totally sucked into it and just ignoring their kid in a stroller behind them.
Right, but as exploitive as those things are, they're still regulated and taxed as gambling. The regs may be a joke, but they exist. Like in some places they're required to remind the player about addiction concerns and direct them to help for it, and to fund those programs. And part of the reason that states (and provinces here in Canada) were so gung-ho on the liberalization of gambling is that they take a fat cut.
aside: recreational gambling should require a federal ID with losses tracked online, and if you're down more than 10% of last year's after-tax income you're cut off for the rest of the year, but I assume the Canadian and especially US constitutions rules against doing good things federally make that impossible.
Re: How Kalshi Infects the News
#47Earlier quoted context omitted.
There is a market for the gamblification of everything because there is no other widely accessible path for young people to build a future. A college degree is no longer a guaranteed path to a stable, well paying job. Building wealth through real estate is no longer viable. With no clear options the only visible path to building a modicum of wealth is timing the next big crypto rugpull, hitting a 5 leg parlay, rippin…
> A college degree is no longer a guaranteed path to a stable, well paying job. Building wealth through real estate is no longer viable. ...and winning a life's fortune via gambling is even less viable. I agree with what you're saying about the lack of guaranteed paths to prosperity but turning to gambling is not a logical outcome stemming from it. There is no logic in gambling at all . It is purely a vice that preys…
If you're already losing and losses are capped past some point (worst case just kill yourself), high stakes gambling is quite logical. Of course in reality, gamblers are rarely driven by game-theoretical analysis.
Re: How Kalshi Infects the News
#48Earlier quoted context omitted.
> A college degree is no longer a guaranteed path to a stable, well paying job. Building wealth through real estate is no longer viable. ...and winning a life's fortune via gambling is even less viable. I agree with what you're saying about the lack of guaranteed paths to prosperity but turning to gambling is not a logical outcome stemming from it. There is no logic in gambling at all . It is purely a vice that preys…
If you're already losing and losses are capped past some point (worst case just kill yourself), high stakes gambling is quite logical. Of course in reality, gamblers are rarely driven by game-theoretical analysis.
I think we're trying really hard to rationalize a fundamentally irrational behavior here. The vast majority of people betting on Kalshi are not thinking "well, worst case I'll just kill myself".
Re: How Kalshi Infects the News
#49Earlier quoted context omitted.
Democracy doesn't exactly have a long history of stable states, and the US only been a liberal democracy for about 60 years. In that time we've done very little to hold politicians accountable. It's not clear there is a democratic fix outside of the theoretical realm. Nobody wants to kill the golden goose....
Genuinely curious what the golden goose refers to here?
There's a lot of money in gambling. Nobody seems to want do anything that might depress the economy, even if it means the death of democracy.
Re: How Kalshi Infects the News
#50The unprecedented era of gambling on literally everything everywhere is an absolute cancer on society, made completely legal by absolute greed and degeneracy at the highest levels of government. I don't know how we put this genie back in the bottle (amongst many detrimental genies).
Its just another symptom of the silicon valley startup "do something illegal, scale fast, and dare the government to do something about it" business model. It is an absolute cancer to society, if there is such a thing as late stage capitalism that is it, and we need to vaporize companies that do it with fines and jail time.
On a broader scale it can be viewed as part of modern culture going towards "screw everyone else, I'm gonna do whatever to get ahead." Kids on tiktok are teaching each other how to scam people. At this rate we'll have scam call centers in the US by the end of the decade and nobody will do anything about it.