"YES, I did bet ~$100 on myself on Kalshi because I wanted to get caught. For $100, I just got more attention from CNN, Fox, WSJ, etc than any media consultant ever. In politics, money has always bought attention, but I can get attention for almost free."
"Kalshi is currently being sued by many states for being an illegal betting market. I made the bet to bring to light that our 'democracy' is up for sale and Kalshi is a platform that can be manipulated by the highest bidder/donor to move a market which will sway voters."
"The CFTC will continue to safeguard its exclusive regulatory authority over these markets and defend market participants against overzealous state regulators."
Mark Moran, a Senate candidate in Virginia, was suspended for five years and fined $6,229.30 for betting on himself on Kalshi. He refused a settlement that required a public statement, claiming the bet was a strategy to gain media attention. Moran argued that Kalshi is being sued by several states for operating as an illegal betting market and highlighted concerns about the influence of money in politics. The CFTC is challenging state regulations on prediction markets, asserting its authority over them.
Read at Ars Technica
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