Right, but the point is that we don't just go from popular outrage about a shady business model to "straight to prison". The courts have to untangle the legalities of the shady business model before we can even determine what the charges would be. And that's what they're doing.
reply> Right, but the point is that we don't just go from popular outrage about a shady business model to "straight to prison".
replyWe should! Finally incentivize rich people to not screw over the rest of society for a quick buck.
? But Kalshi is regulated by the CFTC
replyThe federal government has claimed Kalshi is a regulated futures market.
replyThat is the federal government asserting that Kalshi is subject to federal regulation by the CFTC and not state regulation. It is not an assertion that Kalshi is actually in compliance with futures market regulations, nor is it an assertion that the contracts offered by Kalshi are actually legal (there are explicitly illegal futures contracts).
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