Talk:Kalshi

This article was nominated for deletion on 9 August 2023. The result of the discussion was keep.

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Promotional content

MrOllie, I'd appreciate it if you could point out the promotional content that needs to be removed/rephrased. Mooonswimmer 15:13, 24 August 2023 (UTC)[reply]

I can't really point out any specific text, it is woven throughout the whole article. I'll reword it when I have time, if it is kept at AFD. MrOllie (talk) 15:28, 24 August 2023 (UTC)[reply]

"First federally regulated" claim

Roll Call: "The New York-based Kalshi is the first federally regulated financial exchange that allows users to trade directly on the likelihood of a particular event."
Los Angeles Review of Books: "in November 2022, Kalshi launched its platform with the blessing of the United States’ top futures regulator—the first federally regulated exchange to permit trading on event contracts.". Mooonswimmer 16:18, 14 February 2024 (UTC)[reply]
The company's marketing reps repeat this again and again, and a few sources that work with them have adopted the wording. But it is highly dubious, given the existence of regulations for Binary options and the like, as well as the fact that PredictIt has had CFTC approval (in the form of a no-action letter) since 2014. MrOllie (talk) 16:20, 14 February 2024 (UTC)[reply]
I'm not an expert on regulation which is why I simply cited what a number of reliable sources claimed. Are binary options the same financial instrument as event contracts, with the same egulatory frameworks?

Perhaps this description by Bloomberg is more accurate rather than just a rehash of what the company touts itself as:

"Meanwhile, Kalshi, a Silicon Valley startup with venture capital backing, became the first exchange granted CFTC registration to run a fully-commercial event market in 2020."

This The American Prospect article critical of Kalshi states:

"While serving as commissioner, Quintenz played a key role in approving Kalshi’s application as the first financial exchange to trade event contracts, just one day after the 2020 elections." Mooonswimmer 16:47, 14 February 2024 (UTC)[reply]
Binary options aren't exactly the same as event contracts, but are another form of 'trade directly on the likelihood of a particular event'. The American Prospect gets it wrong, IMO. Kalshi isn't the first such exchange, and they're not even the first the CFTC has given a nod to, they're just the first that has filed a particular sort of paperwork. Bloomberg's 'CFTC registration' is technically correct, but doesn't really capture how unimportant this is. We should be careful not to imply this is some kind of important milestone. MrOllie (talk) 17:07, 14 February 2024 (UTC)[reply]