Prediction markets are a fantastic concept with a ton of value I think for everyone. So I wish companies in the field success and I hope they thrive despite regulators doing their best to destroy them, like PredictIt.
I think it's a shame Kalshi has managed to get their hooks into the CFTC and, rather than lobby to open the field to all prediction markets, instead lobbied for narrow permissions to operate only their stuff (in a limited, less useful way) while killing their competitors.
It's a terrible way to operate a business and it's a black stain on YC for funding a company using these kinds of underhanded methods.
I can only hope the regulatory environment improves and we get some improvements at the CFTC, but I think anyone familiar with US government institutions would bet against it. Perhaps someone could open a question about it on a prediction market.
I think it's a shame Kalshi has managed to get their hooks into the CFTC and, rather than lobby to open the field to all prediction markets, instead lobbied for narrow permissions to operate only their stuff (in a limited, less useful way) while killing their competitors.
It's a terrible way to operate a business and it's a black stain on YC for funding a company using these kinds of underhanded methods.
I can only hope the regulatory environment improves and we get some improvements at the CFTC, but I think anyone familiar with US government institutions would bet against it. Perhaps someone could open a question about it on a prediction market.