Seraphim
Member

Kalshi is regulated through the SEC and sells securites. They have been doing political gambling, where instead of having odds, you buy "shares" at a certain price. When the outcome is determined, your share price goes to $1 if you bought the correct shares. You can also sell your shares if the share price has gone up and you want to take profits. They also do gambling on all sorts of events, including economics (will the Fed lower rates by .25, .50 or hold steady) or "will Taylor Swift release her next album by April" kinda bullshit. Rather than betting on a sports team with "odds", which is how sportsbooks typically operate, you can now buy a security at a specific share price based on the market for your favorite team, at let's say 60 cents per share, then when they win you win $1 per share. If the game is going well for your team and it gets up to 95 cents, you can sell the share prematurely in case the other team makes a comeback right at the end. I'm not even sure if states can outlaw this by creating new laws, since it is a federally regulated security.