cwitt
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The legal difference is sports betting is regulated as gambling by states and regulated as event contracts by CFTC.
The “same thing” regulated differently doesn’t make one legal and the other illegal.
The practical difference is that a state sportsbook license is a license to steal from losing bettors and ban winners, while CFTC puts strict requirements on fairness and market access.
Chris Christie@GovChristie
There’s no legal difference between predictive markets and sports betting markets…In the end, it’s a bet. These are rogue actors who are out there operating outside the law, and they need to be brought back within the law. They said there are safeguards in place. What we're showing is there are no safeguards in place. States must continue to act to protect their rights and the rights of their citizens. Recently joined @CNBC @PowerLunch to discuss.
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…and what an exchange does is aggregates supply to trade against that demand, forcing the demand to compete on margins until it is effectively ~0%.
If you decide to host an auction to sell your house, do you want 1 bidder, or do you want 10 bidders?
Alex Johnson@AlexH_Johnson
One would imagine that the Kalshi will figure this out soon. There’s a huge (and monetizable) demand to take the other side of suckers’ bets.
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If McKinsey is looking at this - make cricket truly global. That’s it.
Understand why it’s still a colonial sport handed over to subcontinent. No other culture or country other than English and desis have embraced this sport.
Figure out ways on how they can get the Asians to play it, introduce it to Latinos, Europeans, Americans etc.
Currently a team from Japan comes to play a cricket World Cup and all the players are named either Singh or Patel.
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Management consulting firm McKinsey has been secretly commissioned by the ICC to conduct a wide-ranging review into the future of cricket.
codesports.com.au/cricket/global…

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The thing about Boomer inheritances is that it isn’t even like it’s really going to benefit anybody. The whole thing is a huge waste. A bunch of 90-year-olds doing nothing with the money giving it to their 65-year-old children who don’t need it.
I’ve had my mind changed about inheritance. I think contra the boomers we should be doing everything we can to help our kids get a start in life. But the people inheriting the boomers money are old!
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