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How Kalshi Infects the News

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Re: How Kalshi Infects the News

#51

Post by deaton »

rescripting wrote: post #29
hebleb wrote: post #7

Earlier 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…

Of course there are paths to success, and they are available, but we live in a tiktok world where everyone wants to be a millionaire tomorrow and not in 20 years.

Re: How Kalshi Infects the News

#52

Post by allthetime »

baggachipz wrote: post #3

The 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).

"I don't know how we put this genie back in the bottle"

laws, that's how. push it back down to the dark net where most people can't be bothered to get at it.

Re: How Kalshi Infects the News

#53

Post by Pxtl »

rustystump wrote: post #33
Pxtl wrote: post #6

It'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.

Not defending Kalshi but stock market has been gambling lite for a while now. It is pretty wild how blatant it is now though.

I think it was kind of a chain reaction... gambling liberalization and bitcoin happened around the same time, and then people figured out "Oh this thing we do with buying bitcoin and then talking everybody else into buying bitcoin... we can just do that with regular securities can't we" and then the hyper-valuation of Tesla and Gamestop happened.

Now everything is either gambling or a scam or both.

Re: How Kalshi Infects the News

#54

Post by SpicyLemonZest »

rescripting wrote: post #29
hebleb wrote: post #7

Earlier 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…

They're not independent problems. Right now, someone on the East Coast is taking their lunch break; in a world without phone gambling, they would be studying business principles so they can put their name up for a manager role when it opens. But instead they're trying to pick the right sports bet that will make them rich this evening.

Re: How Kalshi Infects the News

#55

Post by nradov »

rescripting wrote: post #29
hebleb wrote: post #7

Earlier 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…

That perception bears almost no relation to reality. The most reliable path to building a modicum of wealth has remained the same for generations: start a small business in some boring field and work your ass off for 80 hrs/wk.

Building wealth through real estate is also still totally possible outside of the HCOL metro areas. Try unfashionable areas like Cleveland or Oklahoma City. And let's not have any low-effort comments claiming that there are no good jobs available in those places: the actual economic data on median income to housing price ratios tells another story.

Re: How Kalshi Infects the News

#56

Post by embedding-shape »

nradov wrote: post #27
tangenter wrote: post #5

Earlier quoted context omitted.

I try to run YouTube in librewolf with adblockers stacked to the tits but every so often I have to use Chrome. The volume of gambling ads is repugnant.

It probably depends on the algorithm. I never see gambling ads on YouTube.

Also country. Visited Sweden recently, gambling ads everyone on the internet, on TV and in public spaces, but back home Spain I still see some, but nowhere near the level as it was in Sweden.

Re: How Kalshi Infects the News

#58

Post by spacechild1 »

baggachipz wrote: post #3

The 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).

> I don't know how we put this genie back in the bottle

Just ban or regulate it? It's only a form gambling after all.

Re: How Kalshi Infects the News

#59

Post by vel0city »

SoftTalker wrote: post #22
dheera wrote: post #8

Earlier quoted context omitted.

I mean, it's instilled into society at every level in the US. If your company offers an FSA, it's asking to make a gamble on how much medical needs you'll have in the next 1 year. The "smart" way to write the tax law would be to just let taxpayers deduct whatever medical expenses they have at tax reporting time. But instead, they want you to make a bet because you're highly likely to either (a) not use all of it and…

An FSA should not be a "bet" it should be set up for expenses you know you are going to need to pay: dependent care, recurring care and prescriptions, planned procedures. Your employer, not you, owns the account and keeps any balance remaining at the end of the year so you should not really guess at how much you contribute. An advantage of the FSA is that the full contribution is available immediately but the payroll…

But for a ton of people that amount is extremely variable. Do you plan on getting into a car accident? Do you plan on getting an appendectomy in June when making your elections the November before? Sorry doctor, getting cancer wasn't in the plans for 2026, can we reschedule that to 2027 after my open enrollment?

I hate FSAs. Anyone have a good argument on why we should have them instead of just making HSAs open to everyone regardless of healthcare plan?

Re: How Kalshi Infects the News

#60

Post by lr4444lr »

boredatoms wrote: post #13
Pxtl wrote: post #6

It'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.

Same thing happened in the early days of Uber, with taxi licenses

While your analogy is valid, I find it hard to get upset at people who flout an artificially imposed limit to a license to engage in employment.

I'm aware the vehicles and drivers were at first highly unvetted, but the moral impulse that's got everyone so up in arms about prediction markets isn't remotely the same as Uber smashing through antiquated monopolies that existed more by historical accident than any unavoidable public safety need.

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