New York Times and The Athletic workers demand company scrap Kalshi deal • Hacker News Board

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#91

Post by bluecalm » Thu, Sep 03, 2026, 5:23 PM UTC

stefs wrote: post #89

esalman wrote: post #84

Earlier quoted context omitted.

Sports gambling is controlled by FTC in the US. Prediction markets like Kalshi and Polymarket found a loophole where they can run gambling operations under CFTC and and not be controlled by FTC. There needs to be some legislative actions from the Congress to close the loophole.

> Congress to close the loophole But i think one of the prediction markets more important uses is to enable insider trading for the current administration.

It's a lazy argument imo. As corrupt as they might be there is way more money to make in the stock market or bond market if you have insider info. There is little reason for them to go after peanuts in the prediction markets.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#92

Post by ambicapter » Thu, Sep 03, 2026, 5:25 PM UTC

bluecalm wrote: post #90

amelius wrote: post #74

Earlier quoted context omitted.

Well, long term trading is what we should stimulate because it corresponds to investments based on insights in the underlying companies. Short term trading, however ... Maybe we should just put limits on how short one can own a stock (?)

You want short term trading because you want the prices to be as close to efficient as possible. You may never trade short term but at some point you are going to buy and at some point you are going to sell. Market being far from efficient one would hurt you there. So let them trade and discover price. You don't have to play that game but you still benefit.

Long-term traders don't need the price to be as "efficient" as possible by definition.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#93

Post by Avshalom » Thu, Sep 03, 2026, 5:25 PM UTC

dominotw wrote: post #56

cdrnsf wrote: post #34

Sports gambling is a cancer, as are prediction markets. None of it should've been legalized and all of it should be banned.

have you seen stock market these days?

Yeah, we hate that too man. It's just not the topic at hand.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#94

Post by swozey » Thu, Sep 03, 2026, 5:25 PM UTC

altmanaltman wrote: post #39

cdrnsf wrote: post #34

Sports gambling is a cancer, as are prediction markets. None of it should've been legalized and all of it should be banned.

I would say prediction markets are more dangerous since they don't claim its gambling while sports gambling is much more explicit (not that the industry is a saint by any means)

Predication markets are literally causing people to start wildfires across the globe, I thought it was just a USA thing going on, but it's global.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#95

Post by newspaper1 » Thu, Sep 03, 2026, 5:26 PM UTC

monideas wrote: post #17

_bent wrote: post #11

Earlier quoted context omitted.

it was a joke stemming from the understanding monideas has that the NYT is not an agent of the status quo but actually somehow misandrist turbowoke.

I wouldn’t use the term misandry because they also are interested in damaging women. “Turbowoke”, sure but we’re really just talking about mainstream American elite culture which is progressive. And young men are a particular target because they are generally the main threat to the status quo. Basically the NY Times is precisely an agent of the status quo.

I'm going to go out on a limb and say the institutional paper that lied to get us into the Iraq war isn't "turbowoke". The NYT is a propaganda outlet for the military industrial complex, not some sort of leftist activism.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#96

Post by jameshart » Thu, Sep 03, 2026, 5:27 PM UTC

abirch wrote: post #28

gavinsyancey wrote: post #18

Earlier quoted context omitted.

Most competent people at the DOJ have either been fired or left. And the current administration seems to love insider trading, so long as they can be the insiders doing the trading.

I'll leave this here, Donald Trump Jr got a free stake in Kalshi. https://finance.yahoo.com/markets/options/articles/donald-tr...

Same old story, on a whole new scale. Donny Junior has a piece the numbers game on the east side, so the family makes sure the cops don’t come round asking too many questions…

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#97

Post by amelius » Thu, Sep 03, 2026, 5:27 PM UTC

bluecalm wrote: post #90

amelius wrote: post #74

Earlier quoted context omitted.

Well, long term trading is what we should stimulate because it corresponds to investments based on insights in the underlying companies. Short term trading, however ... Maybe we should just put limits on how short one can own a stock (?)

You want short term trading because you want the prices to be as close to efficient as possible. You may never trade short term but at some point you are going to buy and at some point you are going to sell. Market being far from efficient one would hurt you there. So let them trade and discover price. You don't have to play that game but you still benefit.

How much will it hurt me? Maybe I'm OK with being hurt through the markets if it means the world is a saner and more fair place?

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#98

Post by tlogan » Thu, Sep 03, 2026, 5:28 PM UTC

nozzlegear wrote: post #42

tlogan wrote: post #30

The only thing I know is that journalism stopped being independent and unbiased a long, long time ago.

Interesting, but what does that have to do with the price of tea in China?

I am trying to say that they cannot claim that this deal will “threaten our journalistic independence”. It is just kinda funny (and sad) that they claim that while only 32% of U.S. adults said they trust The New York Times as a source of news.

https://www.pewresearch.org/journalism/feature/news-media-tr...

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#99

Post by Gattopardo » Thu, Sep 03, 2026, 5:28 PM UTC

strictnein wrote: post #77

Gattopardo wrote: post #64

Earlier quoted context omitted.

America is not the UK and its citizens are not capable of regulating themselves in the face of this sort of exploitation.

> NHS gambling clinics have experienced a rise of 130% in referrals in a year, leading to a large increase in the number of support locations. Sounds like the enlightened citizens of the UK aren't either?

Searched the quote and you neglected to elaborate on how small the number is:

> Health service figures show that from April to September 2024, 1,914 people were treated at NHS gambling clinics. This compares to the previous financial year when a total of 1,389 patients were cared for. In 2022-23 this number was 1,013, and in 2020-21 it was 775 patients.

I get that you're probably trying to make a point that it's bad for everyone in general, but the US is on a completely different level of societal corruption from all of this.

Re: New York Times and The Athletic workers demand company scrap Kalshi deal

#100

Post by nightpool » Thu, Sep 03, 2026, 5:29 PM UTC

swozey wrote: post #94

altmanaltman wrote: post #39

Earlier quoted context omitted.

I would say prediction markets are more dangerous since they don't claim its gambling while sports gambling is much more explicit (not that the industry is a saint by any means)

Predication markets are literally causing people to start wildfires across the globe , I thought it was just a USA thing going on, but it's global.

Do you have any sources for this? My understanding is that all of the discussion about prediction market wildfires are completely speculative, nobody has actually started a wildfire for a prediction market payout yet.