Comment Text:
I received an email from Kalshi telling me to make a comment. In their email they state, "These markets are crucial for society. They allow us to forecast the elections without bias and fight disinformation."
Tell me how exactly does Kalshi prove their markets remove bias or disinformation? When you poll the public it's one person one vote, but in election markets like Kalshi is proposing, what prevents rich individuals from swaying the market? Do they really think the common person is going to participate in their markets, if they do, do they think they will put up enough money to move the market?
What happened to the marketing statement "We provide a hedging instrument"? Did it not work for them? Now it is about disinformation. There are academic papers on dual auction markets versus polling, maybe Kalshi should reference them, or maybe those papers don't agree with the Kalshi selling point.
