> Before Kalshi, markets that allowed you to trade on economically relevant events were illegal or unregulated.
Totally untrue. PredictIt was legal and regulated and well-loved for many years, operating with the permission of the CFTC under a no-action letter. Then Kalshi hired former CFTC commissioner Brian Quintenz and soon, PredictIt was suddenly deemed by the CFTC to have committed still-unenumerated violations of the no-action letter.
This is a rotten way to do business and shame on YC for being involved in it.
Totally untrue. PredictIt was legal and regulated and well-loved for many years, operating with the permission of the CFTC under a no-action letter. Then Kalshi hired former CFTC commissioner Brian Quintenz and soon, PredictIt was suddenly deemed by the CFTC to have committed still-unenumerated violations of the no-action letter.
This is a rotten way to do business and shame on YC for being involved in it.
https://karlstack.substack.com/p/a-textbook-case-of-regulato...