- Kalshi is a high-tech prediction market that uses contracts to allow forecasting future events, comparing itself to commodity futures rather than gambling.
- Kalshi seeks federal regulation under the CFTC to preempt state gambling laws and establish a national standard, leading to legal disputes with states like Kentucky and Illinois.
- Government insiders have been caught using confidential information to profit on prediction markets, such as a US soldier making $410,000 on Polymarket and a former Congressman manipulating bets.
- Concerns about insider trading and market manipulation persist, with allegations extending to President Trump's teleprompter operator making $100,000 predicting speech content.
- The Trump White House issued a memo warning employees against using nonpublic information for prediction market contracts, highlighting ongoing ethical and regulatory issues.