Post #27434 by WatchingTheHerd on the US Policy board

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What could possigbely go wrong? Why does this court decision - which will no doubt soon be appealed - seem tailor made for the grifter in chief:

https://www.politico.com/news/2024/10/02/election-...

Political bettors hit the jackpot as court clears election markets for comeback
“This week is the dawn of a new era for financial markets,” said Tarek Mansour, CEO of financial exchange startup Kalshi

Political gambling is back on in the US, less than five weeks before Election Day.

A federal appeals court in Washington on Wednesday cleared the way for financial exchange startup Kalshi to revive the first fully regulated election-betting markets in the U.S. The three-judge panel lifted a temporary freeze on the markets while rejecting an emergency bid from Wall Street regulators to halt trading pending a full appeal of a lower-court decision in favor of Kalshi.

Now, Kalshi will be able once again to offer trading on whether Republicans or Democrats will control Congress next year — and possibly more. The company has suggested it plans to expand its election-betting markets well beyond which party controls Congress to other political contests, including the presidential election.

“We are incredibly honored to bring safe, regulated, and trusted election markets to the US,” Kalshi CEO Tarek Mansour said in a statement. “This week is the dawn of a new era for financial markets.”

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Same thing will happen to this as happened to Best Seller lists whenever a Trump had a book for sale.

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"We are incredibly honored to bring safe, regulated, and trusted election markets to the US," Kalshi CEO Tarek Mansour said in a statement.

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Uh, someone needs to tell this dude about Citizens United vs FEC. We've had quite an efficient election market in the US for over fourteen years now.

WTH

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