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derektank • today at 7:29 PM • 1 reply • view on HN

I agree that whether the house has a stake in the outcome is (probably, I haven’t read the statute) not relevant to the definition of what is and is not gambling under Utah state law. Online Poker is very obviously a game though in a way that Kalshi and online brokerages aren’t (even if they share game like elements, such as random rewards). Important to caveat that prediction markets do allow you to speculate on the outcomes of games occurring off the platform, and maybe that is the distinction here between Kalshi and Robinhood, but then is Kalshi still “obviously” a gambling site if they ban markets on sports outcomes but leave everything else?


Replies

mcmcmc • today at 8:38 PM

If they ban markets on sports outcomes they lose 90% of their business