Do you believe on this statement by the CEO of Kalshi

[bhadz]

That's the key there, he's already said that elites will never lose on those markets but, they'll not hate it to be honest. A company as big as kalshi have its support from the back end from the people that we don't know. They won't be as big as they are now if they don't have handlers and didn't get helped from any of those elites.

-snip

What a bunch of BS, the audacity to say that the elites hates them, while being connected to the said elites especially the president and his son is just pure hypocrisy. They probably think people are stupid to not realise that they are connected to the supposed elites that "attacks them".

Exactly!

[Orpichukwu]

Prediction market bring another form of confusion to the gambling business. They don't even know if they are gambling or not, an excuse they use to evade taxes. The nature of the prediction marlet is such that insider trading is inevitable, so I don't know why the COE of Kalshi is expressing this level of concern over a matter that us bound to happen. The rich and privileged individuals will always make money off the prediction market and all depend on information management.

I don’t think the reason why this prediction market doesn't want to admit it’s gambling is because of tax. It's far above that; even trading platforms or predictions are also liable to pay tax, but it will be on the federal level, which is where their approval to operate as non-gambling came from,and some are offering service where gambling is not allowed agreeing that they are also another form of gambling will revoke their license in those places.

[robelneo]

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

He is the owner; what can you expect from a man struggling to defend his platform's existence? His views are not important; the regulators' views and judgment are far more important and will determine the fate of his platform.
I don't think this kind of statement, if he brings his case to the Supreme Court, will give him a good chance; he should refrain from twisting the truth.

[Cointxz]

You know that before Prediction market came to existence, people don't care much about some events happening around but Prediction market saw it as an opportunity to trade on these events and for that reason, they go as far as looking for events that must play out in future. Due to the greed from the insiders, they go out to expose the real outcome of the event for profit sake. If you go to prediction market,, you will see a lot of upcoming events which you can trade on. Secondly, Prediction market is avoiding paying taxes and claim they aren't gambling.

And they are also being a tool for this greedy people by offering such odd bets that can be manipulated.

If they didn’t offer this kind of bet means people will not waste money by feeding those inside trader on bets that already has a predetermined outcome.

They knew that gambler will always place money even on the weirdest betting option due to the hype so I believe its not an attack to them rather a ramifications of offering such controversial bets.

[terrific]

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

They're a public platform where users have no restriction of what they can be shared there.
And they're a prediction market that's regulated so what they can expect from the regulators?
It's not really a decentralized prediction market as they say. Whatever the CEO says, it's for blaming the one pressuring them or some damage control.
What they say is to protect the business at all cost and not to look bad because it could decrease their books.
Truth or not, this platform is too big to ignore now and that's why they're in the hot seat too.

[Julien_Olynpic]

He's right in some ways. Unfortunately, this is the reality of today—prediction markets are perceived by politicians as an irritant. Indeed, prediction markets provide independent information, and this can conflict with primary election data or official statements by politicians. For example, Trump might claim that the military conflict in Iran or Ukraine is practically over, but the charts of coins betting on these events might show something completely different.

[yhiaali3]

My personal opinion is that he is trading in the truth. He claims that he is seeking the truth to reveal it to the public and that the public has the right to know the truth. Well then why is he getting paid? Does knowing the truth require his company and other prediction markets to earn hundreds of millions of dollars?

I am in favor of revealing the truth to people, of course, but I think they trade in everything and their first and last goal is money, and this is an argument they use to cleanse themselves.

[el che]

Do you believe in  Kalshi CEO Tarek Mansour statement that;

“elites will never love these markets and they’ll always attack us,” telling Patrick Bet-David prediction markets represent “the first time that information is flowing from people, bottom up.”
”We don’t have gatekeepers of the truth.”

https://x.com/CoinMarketCap/status/2116759396164223119

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

He has a point about crowd wisdom. TV pundits and pollsters lie or mess up constantly with zero consequences. When people bet real cash the odds are usually way more accurate.
Calling it a "revolution against the elites" is just PR spin. Regulators aren't attacking them because they hate truth, they're attacking them over state taxes, gambling laws vs derivatives and market manipulation.
It's not 1 person 1 vote, it's 1 dollar 1 vote. Whales push probabilities, not the crowd. Mansour is just using marketing to stir business friction in political drama.

[Dave1]

Do you believe in  Kalshi CEO Tarek Mansour statement that;

“elites will never love these markets and they’ll always attack us,” telling Patrick Bet-David prediction markets represent “the first time that information is flowing from people, bottom up.”
”We don’t have gatekeepers of the truth.”

https://x.com/CoinMarketCap/status/2116759396164223119

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

I wouldn't say that I'll believed him, but we all know that if there is a polarizing service being offered to us like Polymarket, sooner or later they will be some entities that are going to attack it. Just like with Bitcoin, even at this day, you will see a lot of negative people on it even though we have moved forward and shows that it's here to stay and will continue to disrupt the financial market.

So it's going to be a uphill battle for the prediction market as they have been hit with multiple lawsuits and obviously someone wanted to take them down. So it's really up to them on how they are going to respond to this attacks and continue to survive.

[Mallampue]

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

If in the end this is related to something that is sensitive or something that will be considered taboo then it can be true as when in a political situation or anything related to the country it may not be wrong if CEO Kalshi says this.

In the prediction market all can be opportunities including for taboo affairs though so that this will make the comfort of some parties become disturbed especially when the prediction market frees all types of bets as before even I've seen a thread about the survival of a soldier's death that is used as a betting tool or some information that is still a little secret to US even so bahakn betting so that with this intervention and emphasis will always be there.

On the other hand, this is sometimes a little difficult because some issues that are even a little sensitive are always discussed by some gamblers because the most important thing for them is profit and all opportunities must be taken advantage of even though they know that it is not too comfortable.

[Darker45]

This is just a play of words. They're making it appear as if their platform is for the people. It isn't. It's simply a platform where people can bet on possible outcomes of certain events. And it's made solely for profit. It's revenue that they're after, not the welfare of the people.

For goodness' sake, it's even a gambling platform. It's not a non-profit organization or an advocacy group that fights for transparency or making information available to the public. It just so happens that the users' bets could somehow serve as a barometer as to where they stand on certain issues. But to make information public is never the goal.

[fighter2627]

I am pretty sure that whatever he says there, in the view of the majority, it still agrees with his personal assessment or it is also possible that he may actually have something
to fight for in that matter.

In addition to this, we also know that regulators will do everything so that they can really have control over the platforms
that operate in their jurisdiction.

[abaeze]

If Kalshi were 100% impartial and their source of money was transparent, then his statement might be true, but I don't think they would want to agree with this argument. Because, even if the common people have the combined money, the economic influence of influential big investors can be much greater, so everyone's opportunities in the market are not equal, and no one can deny this fact. So some kind of questionable situation will always be in the prediction market.

Eventually, I don't want to call Tarek Mansur's statement a lie outright but just talking about opposing the elite doesn't prove the CEO's claim. Rather, to prove his claim, real evidence of transparency of their management activities, market transparency, prevention of manipulation and protection of ordinary participants is needed.

[Royal Cap]

What's your take on this?

I partly agree, Because the positive aspect of prediction markets is that regular people have an opportunity not only to give their opinion on the event, but also to take part economically. But it’s not true that the more people take part in the process, the more real the information is. Big investors or organized groups may affect the market price if they want. So, there is a necessity of some regulation, but such regulation shouldn’t be used to restrict regular people from taking part.

[Free Market Capitalist]

He believes says that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people.

Fixed that for you.

What's your take on this? Is there some truth to this?

What he's doing is the classic move of looking for an external enemy to blame for something that is his own responsibility. What he says contains some truth, but the bottom line is that we all know prediction markets are gambling.

This is just a play of words. They're making it appear as if their platform is for the people. It isn't. It's simply a platform where people can bet on possible outcomes of certain events. And it's made solely for profit. It's revenue that they're after, not the welfare of the people.

Yeah, it's pretty pathetic how he wants to come across as a benefactor of humanity with that message.

[GreatArkansas]

The statement sounds more like defending the business. Of course, it's my business; I need to defend it and on what I believed.
A CEO will always frame it that way when regulators are already on them, this is very common especially in cryptocurrency market, even not related with gambling/prediction market, regulations is always the enemies here.

[cryptoaddictchie]

Due to the greed from the insiders, they go out to expose the real outcome of the event for profit sake. If you go to prediction market,, you will see a lot of upcoming events which you can trade on. Secondly, Prediction market is avoiding paying taxes and claim they aren't gambling.

Prediction market is not that bad however the only thing that makes it looks bad is the insider info being leak and thats kinda unfair on the masses. Well can we stop this? Maybe nah! Cause the one cause this is the insider people and just using the platform.  I didnt know they are not paying necessary tax. I think they are cause like gambling casino there must be some sort of taxes and duty since its a business as well.

[5W-KILO]

Do you believe in  Kalshi CEO Tarek Mansour statement that;

“elites will never love these markets and they’ll always attack us,” telling Patrick Bet-David prediction markets represent “the first time that information is flowing from people, bottom up.”
”We don’t have gatekeepers of the truth.”

https://x.com/CoinMarketCap/status/2116759396164223119

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

He should shut up and let the regulators do their job, if he is sure that all the funds on their platforms are legal money and there is no shady business going on in the background he should just shut the hell up and let them work.

I don't understand why he is making a big deal out of this, if you are clean then nothing can say otherwise, silence speaks louder than anything in this life, he doesn't even need to talk or argue.

[davis196]

Do you believe in  Kalshi CEO Tarek Mansour statement that;

“elites will never love these markets and they’ll always attack us,” telling Patrick Bet-David prediction markets represent “the first time that information is flowing from people, bottom up.”
”We don’t have gatekeepers of the truth.”

https://x.com/CoinMarketCap/status/2116759396164223119

He believes that regulators are attacking the integrity of prediction markets because they let information spread to the masses, and they claim to be democratic for spreading information that was once not available to people. What's your take on this? Is there some truth to this?

Mansour is trying to portray prediction markets as some kind of "oppressed victims of the system", which seems very manipulative.
Does he want insider trading to be legalized or something? Insider trading would always be bad. We've already seen what the Trump administration is capable of, just to make a few million dollars via insider trading. There would always be a minority or people, that would benefit from insider trading, while the vast majority of the people would always be at a net loss from gambling on the prediction markets. Mansour's stance on "democratization of information" is pure BS.

[Fiatless]

Prediction market is avoiding paying taxes and claim they aren't gambling.

Taxes are not what they are avoiding because they also pay taxes as a trading platform. What they are avoiding is being regulated as a gambling company.
Imo, a prediction market is just a different a different version of gambling.

Designating Kalshi as a trading platform and not a gambling service provider exempts them from paying for state-level gambling licenses and conventional high taxes paid by others. So technically, they are fighting to avoid paying state taxes, while other gambling platforms pay both federal and state taxes.

Tarek Mansour and Luana Lopes Lara, and the shareholders of Kalshi like Giannis Antetokounmpo and Donald Trump Jr are making serious gains from a renamed gambling service, but they don't want to pay statutory taxes.