CipherG Liquidity

Proprietary market maker in event contracts, quoting both sides on Kalshi and Polymarket US. Own capital only: no clients, no outside money.

[CipherG Liquidity @CipherGio]

Care to explain why you’ve been fine allowing blood-sucking casinos and the vice they bring during your entire tenure?

Seems a bit hypocritical to be one of the first to attempt to block a free market model allowing anyone who wishes to participate a piece of the pie with lower overall “fees” to boot.

[CipherG Liquidity @CipherGio]

@beaformanwrites @DustinGouker @PhillyInquirer They all said said grass root sales doesn’t work in the derivatives industry.

Kalshi:

[CipherG Liquidity @CipherGio]

@Kalshi @KalshiPolitics @elonmusk

[CipherG Liquidity @CipherGio]

@ChairmanSelig @CFTC @Official_Cantor Mike, really appreciate your statement and willingness to stand up to the gambling industry and say enough is enough. We trust that free markets will prevail over monopolized industries leaving devastation in their wake.

[CipherG Liquidity @CipherGio]

Being right is half of it. The other half is how sure you said you were.

Ten true-or-false statements, a reliability diagram and a Brier score. Scored in your browser.

https://t.co/XD1YJPY3ui

[CipherG Liquidity @CipherGio]

@RepAdams We’d love to discuss your comments today on prediction markets “blowing a hole” through state gaming regulation. We strongly disagree as an operator in the space and a constituent of your state!

[CipherG Liquidity @CipherGio]

It’s very frustrating to see this topic discussed without anyone at the table to explain how the mechanics are different between sports gambling and prediction markets. Most people attempting to conflate two have major financial stakes in the gambling industry. Your industry is dying in favor of a free market, get over it.

[CipherG Liquidity @CipherGio]

3/3 We trade only on information we can account for. No material non-public information.

We keep our hands off the outcome: never trying to influence an event, or how a contract resolves.

[CipherG Liquidity @CipherGio]

1/3 Prices are only useful if people trust the process behind them.

The rules we trade under on each venue, in full:

https://t.co/iW8VCaLVXW

[CipherG Liquidity @CipherGio]

2/3 We trade within the venue's rulebook. Where a rule and a trade disagree, the trade doesn't happen.

We send only orders we'd be content to see filled. No wash trades, no spoofing, no layering, no trading with ourselves.

[CipherG Liquidity @CipherGio]

@0xinternetchild A sports bar or other entertainment venue in a large city with multiple sports teams buying NO championship on all local teams to hedge against an exceptionally bad downturn in business. Buying this as a combo allows them to hedge their real world losses with less.

[CipherG Liquidity @CipherGio]

@WALLACHLEGAL The same could be said about any market. This simply speaks to how immature this market is in comparison to traditional derivatives.

[CipherG Liquidity @CipherGio]

Do we ever stop quoting? Yes, on purpose.

Around news we may widen, cut size or step out. When an input to a quote stops updating, that quote comes down until it recovers.

https://t.co/lhmMfSUgxL

[CipherG Liquidity @CipherGio]

@kalshi_business Exactly, and you’re also gatekeeping the flow for a specific subset of investors. We can’t tout Kalshi as a wisdom of many price discovery while institutionalizing the flow behind closed doors.

[CipherG Liquidity @CipherGio]

@ryanchern Agreed, Kalshi seems to be taking the lead on seeding these “micro” markets from what we’re seeing. https://t.co/F483Y9TbEJ is behind in a number of areas and it’s clear they’re rethinking how they distribute subsidies by their recent filings.

[CipherG Liquidity @CipherGio]

@Kalshi We’re excited to be a part of this and can’t wait to see what’s produced!

[CipherG Liquidity @CipherGio]

@RoKhanna Lastly, while this is the weakest of the arguments: you actively participate (and win) in speculative markets as a member of congress with private information the public does not have.

Making predictions about future outcomes is speculative just as any other market.

[CipherG Liquidity @CipherGio]

@RoKhanna Not only that, I’m reading that congressional financial disclosures show that your family actively holds financial stakes in the traditional casino and gaming industry. Your spouse traded up to $15,000 worth of stock in MGM Resorts International as recently as September 25, 2026