Statute of Anne
Kalshi offers a prediction market where you can bet on sports. No! Sorry! Wrong! It offers a prediction market where you can predict which team will win a sports game, and if you predict correctly you make money, and if you predict incorrectly you lose money. Not “bet on sports.” “Predict sports outcomes for money.” Completely different.
The difference matters for somewhat baffling legal and jurisdictional reasons. The US has a federal system in which:
- Commodity futures markets are regulated by the US Commodity Futures Trading Commission, a federal agency.
- Gambling is regulated by the states.
- State gambling regulators ...
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