Exciting news, (Bloomberg) — [Don Jr’s] Kalshi Inc. (KLSH.PVT) has secured a license allowing it to offer margin trading to users, a feature that would make the prediction market platform more appealing to “sophisticated institutional investors”….
US regulations would require users accessing margin products on Kalshi to undergo additional identity checks, such as providing employer information. ID requirements have become a hot-button issue as the platforms grapple with high-profile instances of insider trading.
Lawmakers in the US have put forward several pieces of legislation aimed at tackling insider trading, and earlier this week, Kalshi banned athletes and government officials from accessing markets they might hold influence over. https://finance.yahoo.com/markets/options/articles/kalshi-approved-margin-trading-lures-183323781.html
@emptywheel.bsky.social gives fascinating details about how Mike Flynn got pardoned, paid off by taxpayers & then committed NEW crimes!
Listen live 3ET to 4:15ish youtu.be/2jDhG9nYO5E
My friends @jim-stewartson.bsky.social @thefarce.org @gottalaff.bsky.social will LOVE it @nicolesandler.bsky.social
Marcy, your vacation must have done you well, as you clearly stepped up your legendary Potty Mouth game most spectacularly.
Back in the day, after I returned from being an exchange student in Germany, I was asked to translate something in a German novel or news story that included the kind of language you don’t learn in US high school German classes. My German teacher smiled as I paused at one such word, knowing that I knew *exactly* what the word meant, but also that it’s the kind of word that could get me sent to the principal’s office for using. She let me off the hook when she said, “Let’s just say that this is a flavoring word used for emphasis.” Those of us who knew the proper translation laughed, and the rest of the class looked at us strangely. “We’ll tell you after school,” we told them. From that day forward, the phrase “flavoring word used for emphasis” became a great source of amusement in our class.
Thank you for your very appropriate use of such flavoring words to emphasize (for example) your accurate evaluation of folks such as Karoline Leavitt.
Exciting news, (Bloomberg) — [Don Jr’s] Kalshi Inc. (KLSH.PVT) has secured a license allowing it to offer margin trading to users, a feature that would make the prediction market platform more appealing to “sophisticated institutional investors”….
US regulations would require users accessing margin products on Kalshi to undergo additional identity checks, such as providing employer information. ID requirements have become a hot-button issue as the platforms grapple with high-profile instances of insider trading.
Lawmakers in the US have put forward several pieces of legislation aimed at tackling insider trading, and earlier this week, Kalshi banned athletes and government officials from accessing markets they might hold influence over.
https://finance.yahoo.com/markets/options/articles/kalshi-approved-margin-trading-lures-183323781.html
Please boost the show on Bsky while it’s live
here is a link
https://bsky.app/profile/spocko.bsky.social/post/3mi2vc564ys2p
@emptywheel.bsky.social gives fascinating details about how Mike Flynn got pardoned, paid off by taxpayers & then committed NEW crimes!
Listen live 3ET to 4:15ish youtu.be/2jDhG9nYO5E
My friends @jim-stewartson.bsky.social @thefarce.org @gottalaff.bsky.social will LOVE it @nicolesandler.bsky.social
I also posted a link on Xitter under a Marcy Post
https://x.com/spockosbrain/status/2037622114673729752?s=20
Marcy, your vacation must have done you well, as you clearly stepped up your legendary Potty Mouth game most spectacularly.
Back in the day, after I returned from being an exchange student in Germany, I was asked to translate something in a German novel or news story that included the kind of language you don’t learn in US high school German classes. My German teacher smiled as I paused at one such word, knowing that I knew *exactly* what the word meant, but also that it’s the kind of word that could get me sent to the principal’s office for using. She let me off the hook when she said, “Let’s just say that this is a flavoring word used for emphasis.” Those of us who knew the proper translation laughed, and the rest of the class looked at us strangely. “We’ll tell you after school,” we told them. From that day forward, the phrase “flavoring word used for emphasis” became a great source of amusement in our class.
Thank you for your very appropriate use of such flavoring words to emphasize (for example) your accurate evaluation of folks such as Karoline Leavitt.
. . . and Jared Kushner and his equally “epically stupid” partner in negotiations, Steve Witkoff.
chef’s kiss
Posted on Mastodon too Since that is my favorite place to hang out.
https://mastodon.online/@spocko/116302973095962868
But I also posted on Xitter under a NYTimes post about Flynn
https://x.com/spockosbrain/status/2037625337639760007?s=20
Facts Only
Actor: Don Jr's Kalshi Inc. (KLSH.PVT)
Action: Secured a license to offer margin trading
Event: Margin trading feature made more appealing to sophisticated institutional investors
Timeline: Unspecified but recent
Location: Not specified
Regulation: Users accessing margin products will undergo additional identity checks
Context: Concerns over high-profile instances of insider trading
Legislation: US lawmakers have put forward several pieces of legislation aimed at tackling insider trading
Ban: Athletes and government officials banned from accessing markets they might hold influence over
Executive Summary
Full Take
This development in the prediction market platform Kalshi Inc. is part of a larger trend towards regulating financial platforms to prevent insider trading, which has become a significant issue due to high-profile instances. The additional identity checks for users accessing margin products are aimed at addressing this concern. The ban on athletes and government officials from certain markets further emphasizes the platform's efforts to combat potential influence over market outcomes.
Patterns detected: ARC-0043 Motte-and-Bailey (the platform is taking steps to address insider trading, but the issue remains), ARC-0024 Ambiguity (it's unclear how effective these measures will be in preventing insider trading).
Root cause: The push for regulation stems from a desire to maintain fair and transparent financial markets.
Implications: This development could impact the way institutional investors approach prediction markets, potentially increasing their participation. However, it also raises questions about the extent to which such measures can effectively prevent insider trading.
Bridge Questions: What impact will these additional identity checks have on user privacy? How will the platform ensure that the ban on certain groups is fairly applied and not overly restrictive? What other measures could be taken to address insider trading in prediction markets?
