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How Is Kalshi Not Gambling?

WIRED·@StevenLevy·7 months ago
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Seattle to win Super Bowl LX, there were multiple means to turn your hunch into cash. You could place a wager on a betting site like FanDuel or DraftKings. Or you might risk the same amount of money by taking a position in the prediction market known as Kalshi. In both cases you would have been rewarded. But according to Tarek Mansour, Kalshi’s cofounder and CEO, those two acts are completely different. Kalshi is not a gambling site, Mansour says. It’s a marketplace, one regulated by the Commodity Futures Trading Commission. It’s also a startup, and securing that regulatory approval might be its most impressive innovation. Kalshi is allowed to operate in all 50 states, 20 more than allow online sports betting, and it offers markets not only on sports and election results (its most popular categories) but also on a dog’s breakfast of events including tomorrow’s temperature in Philadelphia, Taylor Swift’s wedding date, and whether Elon Musk will start a Bluesky account before 2027.…

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