alt Hacker NewsIt'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.
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Same thing happened in the early days of Uber, with taxi licenses
Here at least I believe the gambling laws have changed.
Most gas stations I go into now have "gaming" machines and there's always some soul sitting at them at any time of day.
I'm mostly on team let-people-do-what-they-want-even-if-it's-bad-for-them but it's disheartening to watch a dad sitting there totally sucked into it and just ignoring their kid in a stroller behind them.
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...
Not defending Kalshi but stock market has been gambling lite for a while now. It is pretty wild how blatant it is now though.
Is it obviously gambling? Would it be any different if a large financial institution sold prediction market securities?