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How Kalshi Infects the News

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Re: How Kalshi Infects the News

#91
post #8

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 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…

> 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.

Conflating this with gambling is dishonest. I'll grant you that I've always viewed the way FSA is structured is weird, but this is absolutely not gambling unless you're completely unaware.

If you have any regular, annual medical expenses that are out of pocket, or plan to purchase any of the very wide variety of items that are eligible for FSA (e.g. gym equipment, many foods, glasses, contacts, etc. that might not be fully covered), then you can estimate this with exceptional accuracy.

This is not the same as playing roulette.

Re: How Kalshi Infects the News

#92

Did anyone else think it was strange how fast legitimate news orgs (cnn for example) integrated prediction markets into their businesses?

I mean, it only feels weird if you missed Kalshi becoming a CNN partner 6 months ago. Media is entirely captured by capital, so I wasn't even surprised when they did that.

https://news.kalshi.com/p/kalshi-cnn-prediction-market-partn...

Re: How Kalshi Infects the News

#93
post #8

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 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…

Well, then any insurance is also gambling, according to your argument. Mean return of buying insurance must be always worse than not buying, but you don't want it to happen to _you_.

PS: except for home insurance in hurricane areas, government allows insurance plans to be non-actuarial, so essentially all other taxpayers pay for destroyed homes there. Gov even promotes rebuilding destroyed homes in the same place, instead of people moving out, only exacerbating the problem. Whether it's good or bad I don't know.

Re: How Kalshi Infects the News

#94

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).

Here's an answer for you: we need a new temperance movement.

Sounds pretty ridiculous at first, but that's because people know little of the temperance and progressive movements of the late 19th and early 20th century besides "prohibition failed". There was a whole lot more to it than mere anti-alcohol push, it included labour rights and reform (Upton Sinclair's The Jungle, etc), Anti-trust and anti-monopoly laws, anti-political corruption, consumer protection (food regulation), women's suffrage, etc. The 20th century progressives essentially saw a huge concentration of money and power turning society into a cruel, exploitative machine that ground people up and spat them out. Rampant alcoholism was only one part of it.

A modern version would be different in details but similar overall. Alcohol and cigarettes are not major problems, but corruption, monopoly, and engineered addiction are very real and very problematic. A new temperance movement would be about tackling rampant gabling and addiction (everything from gas station drugs to social media algorithms), political corruption, tech monopolies, misinformation etc.

Big problems need big solutions, but I suspect things will have to get worse before people realize the scale of the problem they're facing.

Re: How Kalshi Infects the News

#95
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.

Some states are trying to fight against Kalshi. One of the problems is the President's family has a financial interest in these markets and so the Republican party does their best to say "hey, these are clearly "swaps" and not bets!!!1!" https://www.yogonet.com/international/news/2026/06/29/125136...

Sure lets act like Democrats are innocent little victims in all of this

Re: How Kalshi Infects the News

#96
post #55

Earlier 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…

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 c…

Just start a small business, or build wealth through real estate is a take that indicates some severe divorce from the reality of poverty in America.

You need both capital (which folks don’t have access to) and the ability to absorb risk (which folks don’t have access to).

Similar advice is in the vein of just stay with your parents for free, have a relative invest $50,000 in your business to start it up.

This runs counter to your internal narrative as a self made person I’m sure, but have you ever worked for 40 hours a week and not had anything left after paying for your share of rent, food and utilities? This is the reality that doesn’t seep into forums like this, where the majority is wealthy, college educated, and broadly privileged in some way either through exceptional talent or background.

> let's not have any low-effort comments claiming that there are no good jobs available in those places

I will bite - homeownership is indeed higher in the rust belt, but many folks struggle to find jobs that meet the median without giving up their health and bodies, if they can find steady work at all.

Re: How Kalshi Infects the News

#97

Did anyone else think it was strange how fast legitimate news orgs (cnn for example) integrated prediction markets into their businesses?

Not really. It's easy "content"for them and adds a veneer of quantitative rigor to what would otherwise be pure vibes.

Not sure why you’re getting downvotes, this is exactly the case, along with I’m sure a nice payoff from the prediction markets for sponsored segments. Same reason betting odds are so heavily integrated into sports news

Re: How Kalshi Infects the News

#98
post #95

Earlier quoted context omitted.

Some states are trying to fight against Kalshi. One of the problems is the President's family has a financial interest in these markets and so the Republican party does their best to say "hey, these are clearly "swaps" and not bets!!!1!" https://www.yogonet.com/international/news/2026/06/29/125136...

Sure lets act like Democrats are innocent little victims in all of this

[deleted]

Re: How Kalshi Infects the News

#99
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…

Well said. It's an unspoken "secret" as well that state gambling is a tax on the poor, feeding on desperation. This isn't even funding taxes though, just lining these companies and their insiders pockets.
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