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Friday, the CFTC will decide If Election Betting Is Approved On US Legal Kalshi
Big day for them and America
It is not legal in usa period despite predictit that is closing down because CFTC pulled a provisional agreement away from them and ordered to cease end of year
The Commodity Futures Trading Commission is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options.
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I say they get knocked down
I don't know.Originally Posted by jjgold
It's tough.
If they want to collect money from books and exchanges, then the handle that now comes with political betting might be good business.
If they say no it must about the optics of election integrity,
Gold, let's get back into that WSEX style exchange thread you started. I want to know more about the guys who made it.
I want to make a west coast hub.
Unless my memory is faulty, WSEX was a sportsbook, not an exchange. There used to be Tradesports that had both sports and politics, etc. Mansion had an exchange too.
WSEX reference was a loose one referring the live contracts you could trade.
https://www.sportsbookreview.com/for...ttrade-nj.html
Hmmm...I guess I don't recall that. I definitely remember WSEX sportsbook. They were quite good for a hot minute in the early 2k's.
Yeah they were a tragic story.
Surely you remember the contracts? You could buy the team, and any number of contracts, for a price of 1-100. If the number covered, you our price rose to 100, if they don't, it drops to zero and loses all value.
You could buy and sell all game long. Sometimes the spread number changed for a new set of contracts, sometimes.
One time, I was killing it and my greedy ass pulled an Otters and bought a shit ton of Wisconsin Hoops at a price of 95, they were way ahead. I stood to gain 5 bucks (cents, whatever you want to call it) on every contract but stood to lose 95.
They fukking lost the game.
I think you are going to be right here.
That seems to be the sentiment.
I think the optics would be really bad to let people bet on elections. Even though the limits would be small and thus no shenanigans or funny business
might not be any limits on a legal exchange like Kalshi
Recommendation:
Rejected.
It's too bad, if we had the ability to make sizeable bets we could have used that election exchange to hedge out stock positions.
For example, I am heavy in oil and gas and instead of a put in case the Republicans take over, I could have just bet Republicans and collected the winnings to offset the eventualy drop in my energy stocks. Could have avoided holding a risky put that was dependant on the elections.
Can probably work out a hedge without election betting, of course.
gambling going backwards usa
record number of banning and $5 limits every state
Look on twitter
Yup, Americans not getting what they had hoped with leghalized betting.
We must learn from these lessons, knock down the propositions in California, and go back to the drawing board with the idea of fair trading, fair markets, and solid bookmaking.
Gold, if solid boomaking chargin vigorish with a high handle and customer base is a proven metod of success, which it is, then why hasn't the US adopted any bookmaking models.
Why does every book given the blessing to operate do everything they can to avoid the model I stated.
Something doesn't add up.
Also, we can blame Trump for this disaster of election betting.
If he hadn't bullshitted so much about the integrity of the elections, there wouldn't be an issue with optics here and we would be able to bet in the US.
Thanks Trump.
As long as the books fund the regulators, and the regulators are behooven to fill the state tax coffers, it will never be what we consider fair and professional bookmaking.
But has it ever been in practice for sports betting if you think about it?
The EV+/- for the stock market is + and the gambling EV is minus
Yet people gamble for years daily with a prospect of losing?? Go figure.
I wager less now with a lot of money, than I did as a big player with next to nothing.
Stocks have been my best wager ever by far!
stocks are penny wide markets
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