I really don’t understand how these markets survive a competent DOJ considering the rate they’re having to ban people for “insider trading”. Fully appreciate the Unions position here.
> competent DOJ
Answered your own question.
New York Times and The Athletic workers demand company scrap Kalshi deal
71–80 of 227 posts
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#72Unfortunately, this shows how much facts and reality have been turned into nothing more than a loyalty test by both sides of our political debate. > A partnership between The Times (for The Athletic) and Kalshi would also provide validation that their prediction market data should be taken seriously as an indicator of the future. Facts prove otherwise. They could have objected to the partnership on any number of vali…
In practical terms commercial prediction markets are unregulated gambling. That's where the money comes from. Stapling a vitamin C packet to your cigarette box doesn't diminish that you're selling cigarettes.
Again, this union doesn't seem to take a position on gambling at all in this statement
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#73I find it really interesting that online sports betting, which has been a thing in my country for 15+ years and largely a non-issue, is suddenly a total shitshow once it gets legalised in the US. I feel like the US always takes things too far. I watch quite a few US sports and former athletes giving betting suggestions during broadcasts is absolutely insane. How can you go from being so restrictive to having absolute…
>How can you go from being so restrictive to having absolutely no limits overnight?
In 2018, the US Supreme Court said the federal law preventing it was illegal.
https://en.wikipedia.org/wiki/Murphy_v._National_Collegiate_...
It was banned by the federal government in 1992 by an act of Congress (with bipartisan consensus and signed into law by a Republican president). The supreme court vote overturning it was also 7-2, with 2 of those 7 appointed by a Democrat president.
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#74Earlier quoted context omitted.
have you seen stock market these days?
Is the stock market able to distinguish cancerous vs non-cancerous growth?
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 (?)
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#75Sports gambling is a cancer, as are prediction markets. None of it should've been legalized and all of it should be banned.
You do realise that countries other than the USA exist, right? The UK has had various forms of sports gambling legal for nearly 100 years and society hasn't crumbled and neither did sport.
You've been able to gamble on your mobile device for 100 years in the UK?
Modern gambling isn't you talking to a bookie and putting down $100 on your favorite team. That should still be legal. Phone apps which learn your behavior, your favorite teams, the offers you are likely to accept, the time of day that you're most likely to make a bet, etc etc and use that to barrage you with notifications, "free" plays, high paying parlays with horrible odds, should not be.
Society bears the downsides of gambling and gambling addiction, while the casinos gather all of the upside.
Finally... https://www.thalamos.co.uk/resources/gambling-addiction-rela...
> 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.
Seems like the UK is also experiencing a large increase in problems from modern gambling systems.
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#76Agreed. They should not be tied or linked or it.
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#77Earlier quoted context omitted.
You do realise that countries other than the USA exist, right? The UK has had various forms of sports gambling legal for nearly 100 years and society hasn't crumbled and neither did sport.
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?
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#78Another reason to question the judgement of Meredith Kopit Levien / the younger Sulzberger...
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#79Sports gambling is a cancer, as are prediction markets. None of it should've been legalized and all of it should be banned.
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> Prediction markets are a wonderful idea
Yeah, it's just like being able to take an insurance policy on other people's lives. It's a wonderful idea for all of 15 minutes until people start getting murdered.
> bare minimum of regulation
No amount of regulation will solve the issue when what you can take insurance on is not regulated.
Prediction markets are to insurance the same as crypto is to banking: a speedrun of all the frauds that happened in the past until the perpetrators are sent to jail or regulated so heavily that they are virtually identical to what they were supposed to disrupt.
Re: New York Times and The Athletic workers demand company scrap Kalshi deal
#80Earlier quoted context omitted.
You do realise that countries other than the USA exist, right? The UK has had various forms of sports gambling legal for nearly 100 years and society hasn't crumbled and neither did sport.
America is not the UK and its citizens are not capable of regulating themselves in the face of this sort of exploitation.
I think that's a hilarious statement given how they drink in the UK