Let me break this down for you guys Jarvis style - Kalshi's case v. Hochul's case.
Kalshi's case is basically this. There's this thing called federal preemption, which means that there are are some areas where the federal government has EXCLUSIVE jurisdiction over regulating something where Congress decides that it would be way more efficient to have one set of rules instead of 50. (For example, Gavin Newsom can't mint a California Dollar with his face on it. Probably.)
Congress passed this law that governs this federal agency called the Commodity Futures Trading Commission. That's the agency that has exclusive jurisdiction over EVENT CONTRACTS, which are contracts related to whether something HAPPENS or not - the precise language in federal law for event contracts is any contract "dependent on the occurrence, nonoccurrence, or the extent of the occurrence of an event or contingency associated with a potential financial, economic, or commercial consequence." If you have a contract like that, go get regulatory approval from the CFTC and you're good. Kalshi did that.
In other words, EVENT CONTRACTS are legal and they are subject to the exclusive jurisdiction of the CFTC, which means states don't get to mess with them.
Hochul's case is basically this: The casinos paid me to ban you. So.
Wrote about prediction markets in Canada's national newspaper today.
The gambling frame is lazy thinking. These are hedging and forecasting tools with growing pains.
Read the fine print though. There is no ratings agency for prediction markets.
@bretthuneycutt@mansourtarek_@luanalopeslara
This month I completed 3 years of Kalshi and we never stopped building a better product.
I don't event know how to describe the experience of start working on a startup with just a few people and see the team and product grow.
Today, we're batch shipping 80% of the mobile code we’ve written this past quarter.
First, a breakdown of the other 20%: across 42 releases, our 5-person squad launched the first perpetual futures in the US and trading experiences (explore overhaul, 15-minute charts, live chat, World-Cup hub, inner-circle, etc.) that have led Kalshi to top the App Store rankings for most of the past month.
But all of this was just a fraction of the team’s firepower. At night, we were quietly working on a big project: “V2”, a complete rewrite of our app and the biggest technical leap I’ve seen since I joined the company 6 years ago.
4000 commits and 1 million lines later, the numbers are in and they justify the crazy sprint we just went through:
- CPU usage: 369% peak -> 15% peak
- Memory use: 350M -> 70MB
- Install size: 315MB -> 95MB (for reference: RH @ 934MB, Coinbase @ 310MB)
- External dependencies: 94 -> 11
- Test coverage: 17% -> 100%
When you get the update, Kalshi should immediately feel significantly faster, smoother, sleeker, and more responsive.
For our product velocity, V2 represents a massive shift as well: we now have a single codebase from which the team can push changes to our backend, iOS, and Android builds. The only code that runs on the client is the code that the team wants to run on the client. We have end-to-end type safety, CI with version-tagged deploys, and client<->server integration tests. We’d already gotten in the habit of daily releases, but with our latest tooling, it’s now a breeze.
We’re keeping the team lean, but if you are incredibly talented, work hard, and want to build the next generation financial market,. DM me or apply on our careers website.
Today, we're batch shipping 80% of the mobile code we’ve written this past quarter.
First, a breakdown of the other 20%: across 42 releases, our 5-person squad launched the first perpetual futures in the US and trading experiences (explore overhaul, 15-minute charts, live chat, World-Cup hub, inner-circle, etc.) that have led Kalshi to top the App Store rankings for most of the past month.
But all of this was just a fraction of the team’s firepower. At night, we were quietly working on a big project: “V2”, a complete rewrite of our app and the biggest technical leap I’ve seen since I joined the company 6 years ago.
4000 commits and 1 million lines later, the numbers are in and they justify the crazy sprint we just went through:
- CPU usage: 369% peak -> 15% peak
- Memory use: 350M -> 70MB
- Install size: 315MB -> 95MB (for reference: RH @ 934MB, Coinbase @ 310MB)
- External dependencies: 94 -> 11
- Test coverage: 17% -> 100%
When you get the update, Kalshi should immediately feel significantly faster, smoother, sleeker, and more responsive.
For our product velocity, V2 represents a massive shift as well: we now have a single codebase from which the team can push changes to our backend, iOS, and Android builds. The only code that runs on the client is the code that the team wants to run on the client. We have end-to-end type safety, CI with version-tagged deploys, and client<->server integration tests. We’d already gotten in the habit of daily releases, but with our latest tooling, it’s now a breeze.
We’re keeping the team lean, but if you are incredibly talented, work hard, and want to build the next generation financial market,. DM me or apply on our careers website.
Eu que assisti Cabo Verde e Paraguai SANGRAR EM CAMPO ver a minha própria seleção jogar da maneira mais porca e relaxada é realmente RIDÍCULO, me desculpem mas esses caras ganham MILHÕES pra fazer isso???? É inacreditável a vergonheira
Craque Neto revoltado com a Seleção após a eliminação do Brasil para a Noruega e disparou:
“Geração perdedora! É impressionante. Agora o Neymar quer chorar no meio do campo? Não tem que chorar. Você nem foi titular. Bancaram jogadores que não tinham condições. Foi vergonhoso do começo ao fim. Essa é uma geração de mentira. Esses caras são perdedores.”
Kalshi x Jose Alvarado Finals Ticket Giveaway 🚨
WIN TICKETS TO GAMES 3 & 4 AT MSG!
To enter:
1. Like + Retweet this post
2. Follow @KalshiSports
Winners announced June 5th. Good Luck!