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return2ozma@lemmy.world to Technology@lemmy.worldEnglish · 4 hours ago

Man who lost $308,000 on sports bets sues Kalshi for offering illegal gambling

arstechnica.com

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  • nottheonion@lemmy.world
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Man who lost $308,000 on sports bets sues Kalshi for offering illegal gambling

arstechnica.com

return2ozma@lemmy.world to Technology@lemmy.worldEnglish · 4 hours ago
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  • nottheonion@lemmy.world
Lawsuit demands Kalshi return losses because online betting is illegal in Washington.
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  • BarneyPiccolo@lemmy.today
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    1 hour ago

    These polymarkets need to be declared illegal, and all money returned, win or lose. Those that won get to keep their winnings.

  • KC_Royalz@lemmy.world
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    1 hour ago

    Honestly I hope he wins

  • TheUnicornOfPerfidy@feddit.uk
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    2 hours ago

    It’s a bold strategy, Cotton

  • BigTrout75@lemmy.world
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    2 hours ago

    Sounds like he’s doubling down in the bet

  • Scrubbles@poptalk.scrubbles.tech
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    4 hours ago

    I hope he wins, but I’m guessing first thing they’re doing is saying “He signed a forced arbitration clause, and here’s the 42 places in the ToS where he signed that he was okay with it”, and the judge will throw it out

    • chocrates@piefed.world
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      4 hours ago

      Forced arbitration illegal when?

      • Scrubbles@poptalk.scrubbles.tech
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        4 hours ago

        not soon enough my friend. My work just tried to get me to sign one. Luckily it was optional, but holy fuck

      • NateNate60@lemmy.world
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        3 hours ago

        A lot of arbitration clauses can be opted out of. This was the case with most of my credit card agreements when I was reading through them. It involves sending a letter saying that you want to opt out of arbitration. The clause is usually within the mass of text and not easy to find, but it’s there.

        • halcyoncmdr@piefed.social
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          A lot of arbitration clauses are thrown out by courts once they manage to get it in front of a real judge and not a paid stooge. The feeling you get when the arbitrator goes against the company paying them though.

    • ryannathans@aussie.zone
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      Private contracts do not override state and federal law

      • Scrubbles@poptalk.scrubbles.tech
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        3 hours ago

        For this guy hopefully he proves that. For any of us regular folks what you’re saying may be true, but would bankrupt us trying to prove our case.

  • EndOfLine@lemmy.world
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    3 hours ago

    I wonder if Kalshi will set odds on the outcome of this suit?

  • FiniteBanjo@feddit.online
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    4 hours ago

    "I lose $30,800 shame on me.

    I lose $308,000 shame on you."

    Hope he wins.

    • CovertOperative@piefed.zip
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      Just one more lawsuit… He’s gonna win some time…

    • stoly@lemmy.world
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      Hope he wins.

      Because you are tired of Kalshi?

      • FiniteBanjo@feddit.online
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        4 hours ago

        Two reasons:

        1. Prediction markets ARE gambling and need to be regulated as such before it has a chance to create victims or empower insider trading.
        2. My moral philosophy is to side with the underdog.
        • halcyoncmdr@piefed.social
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          My moral philosophy is to side with the underdog.

          I go into every sportsball game with this worldview. I don’t care who’s playing, I just like seeing the fallow with an upset victory and the response from the people that care way too much about something that ultimately doesn’t really matter.

        • 🌞 Alexander Daychilde 🌞@lemmy.world
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          4 hours ago

          before it has a chance to

          leeeeeeeeeeetle late.

          but yes, agreeing and teasing is all <3

        • stoly@lemmy.world
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          3 hours ago

          Thanks. I have heard people complain about the constant ads, and I didn’t know if that was what got you too. I don’t watch anything on TV anymore (I do streaming) so I never see them.

        • Wakko@hell.cloud
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          3 hours ago

          deleted by creator

  • Fishnoodle@lemmy.world
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    Kakishi is a fucking HORRIBLE app to gamble on. Prediction markets offer horrible fucking odds, legal or not

  • PotatoLibre@feddit.it
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    4 hours ago

    TIL Kalshi doesn’t work from Italy.

    I know it’s just because it would does affect the Italian Gov betting business but it’s still nice.

  • ceenote@lemmy.world
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    4 hours ago

    Remember, Kalshi will turn around and have you believe this guy is the best at predicting virtually anything.

    • half_built_pyramids@lemmy.world
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      What’s the bet on him losing this case

      • 🌞 Alexander Daychilde 🌞@lemmy.world
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        4 hours ago

        I was thinking of making a joke about how bringing a court case is gambling on a favorable outcome, but your joke is better and simpler.

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