(www.npr.org)
You may not be aware of how rapidly and historically unprecedented gambling has spread in the US in the last few years. More than half of all men aged 18-49 participate in some form of online sports betting (https://futurism.com/future-society/men-aged-18-to-49-hooked...)
Using https://news.ycombinator.com/bookmarklet.html i got "He was banned by betting sites. Then he relapsed on Kalshi."
Really wish the author had pushed back more on this. They have different predatory incentives, benefitting from encouraging people to make a large number of slightly stupid bets rather than a smaller number of very stupid ones. I would love to hear Kalshi explain what non-predatory value the 15 minute crypto markets have.
In some traditional markets, a source of funding is investors who are hedging, essentially buying insurance.