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Alex Ovechkin scored one (1) minute into the 1st period, making him last night's Ice Breaker! 739 users have received $339 in Bonus Bets 💰

Breaking: NOVIG IS ACTIVE RIGHT NOW

🚨 MAJOR UPDATE 🚨 We are slashing commission fees from 3% to 1% across ALL markets Having the ability to cut our commission costs would not be possible without the trust from our community The future of sports prediction markets just got even better Earn More, Risk Less. 📈

Hearing some terrible things coming out of Bet105 tonight ❌ It appears there were some issues for their live MLB games causing mispriced lines. Bet105 took the opportunity to selectively void winning bets while keeping the losers, resulting in a massive free roll on the entire community 😔 I know a lot of people are pissed right now, but I urge everyone to stay calm and keep tracking your bets. This type of behavior is highly uncharacteristic of them. I’m sure there will be further discussion later on 🧝

1: The notion that market makers, which are the backbone of all financial markets, somehow makes exchanges similar to sportsbooks is false even in its most generous interpretation. For those of you not wanting to read an entire thread… TL;DR: On a sportsbook, there is a single centralized entity (the “house”) setting prices for the entire market. On an exchange, prices are created from an amalgamation of thousands of bids and asks from thousands of entities. Market makers, including KT, compete for flow in an open, transparent and fair marketplace, and set their own prices as to what they are willing to pay for a contract, but are not able to dictate the broader market beyond that. 🧵 Here’s an explanation of market makers and how they work on Kalshi: 2: In financial markets -- the stock market, the bond market -- assets are bought and sold peer to peer. For example, if you want to sell a share of Nike stock, you will need someone else to buy it. 3: There is an obvious problem with this setup: What if nobody wants to buy when you want to sell? What if nobody is selling when you want to buy? If participants could only buy or sell when willing buyers and sellers happened to match up in timing and price, markets simply wouldn't be able to function. 4: This is where market makers come in. Market makers buy and sell from both sides of the market, enabling buyers to have sellers and sellers to have buyers. This creates a liquid market where anyone can enter and exit positions as they please. 5: Liquid markets are incredibly important to platforms like Kalshi, or the New York Stock Exchange. Liquidity is what enables a good user experience -- nobody would use Kalshi or the NYSE if they couldn't buy or sell contracts when they wanted to. 6: Liquid markets are also incredibly important to consumers. On Kalshi, there is a massive ecosystem of market makers, all competing and pricing separately. It's this thriving ecosystem, made up of thousands of market makers, that creates market efficiency -- and market efficiency is why people get better prices on Kalshi. 7: On Kalshi, one of these market makers is KT, who has been a public part of the platform since its launch. KT is a separate corporate entity that is a market maker on Kalshi charged with providing liquidity. They are one of the thousands of market makers that combine to create the Kalshi ecosystem. 8: On a sportsbook, there is a single centralized entity (the "house") setting prices for the entire market. On an exchange, prices are created from an amalgamation of thousands of bids and asks from thousands of entities. Market makers, including KT, set their own prices as to what they are willing to pay for a contract, but are not able to influence the broader market beyond that. The notion that they can is outright false and a complete misunderstanding of how financial markets operate. 9: Given the financial interest at stake in opposing Kalshi's success, we are not surprised to see misinformation circulating about complex topics.  The good news: there are a lot of supporters of the space, especially end consumers…so we’ll keep going! Our door is always open if you want to have a fact-based conversation about where the future of markets is heading.