alt Hacker News> said Chairman Michael S. Selig. “Congress did not intend for derivatives exchanges to be regulated under a patchwork of state gaming laws.
Ah yes, "derivatives" which are "not intended to fall under gaming laws" such as... *checks Kalshi website* 58 million dollars riding on which team is the 2027 NFL champion.
Oh yeah, totally a financial derivative there, not related to gambling at all. *sigh*
Replies
caleblloyd • today at 2:13 AM
Totally a financial derivative for Mattress Mack, but probably not for the rest of us.
xp84 • today at 1:16 AM
ELI5 why it's better for you to place a $10,000 bet that, say, GOOG falls below $300 by February 2028, than to bet the same that the Pats win the Super Bowl? They're both gambling.
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See here, I’m just a poor NFL Championship farmer. Without these futures to give me some certainty around prices, it’s just too risky to plant these crops. You city folk think that NFL Championships grow in your fancy stadiums, and you never see all the work I put into feeding and watering all these athletes. It’s risky enough as it is, the crop can fail due to weather, or even something so small as Dave forgetting to wear his lucky socks when a game is on.