Comment Text:
Kalshi is creating a simple product that has existed in many forms before: a futures market for events related to elections. You buy contracts you think are underpriced and then win when the candidate you expect or hope to win does.
Yet Kalshi, being run by a bunch of Silicon Valley Zoomer frauds who don’t comprehend how transparent they are, has mass emailed out its users urging them to notify the CFTC that—NO, NO!—what they’re doing is certainly not GAMBLING because that would be illegal! What they’re doing, you see, is HEDGING and buying insurance against some bad person winning an election! Now you can earn CASH for electing a fascist! Wow!!!
Kalshi has gone so far as to frame their markets as a “hedging tool” that it has claimed on multiple occasions that it would be great for families in Florida to buy their hurricane contracts so they can CASH IN BIG when their roof gets torn off and they’re homeless. How disgusting and irresponsible, not to mention totally out of touch with ordinary people.
These children are so ludicrously stupid and evidently expect the CFTC to be just as stupid.
Nobody is “hedging” here. They are gambling. The users of this system tend to consist of far more poker players than hedge fund managers.
Honestly Kalshi should probably be sanctioned for even trying this absurd ruse.
