I misread the title and thought it said he /founded/ Kalshi, which would have been a hell of a story. The actual title says "discovered", but I guess that doesn't quite fit for HN.

In no way is it better now that we have online gambling. The entire industry should be illegal and barred from participation in the traditional banking system.

The loopholes discussed in the article 100% should be closed, making it easier for problem gamblers that want out to get out, but there will always be the convenience factor that will cause at least some damage. Ease of access also means ease of misuse unfortunately.

I hadn't heard this was a feature that you could self-exclude / ban yourself from the main apps. Interesting. I think the "he was banned" part is a bit misleading then.

> She went on: "If you ask our millions of traders, they would emphatically tell you that an exchange model is significantly healthier than a sportsbook model: our profits aren't tied to trader losses, so we don't have the same predatory incentives."

Really wish the author had pushed back more on this. They have different predatory incentives, benefitting from encouraging people to make a large number of slightly stupid bets rather than a smaller number of very stupid ones. I would love to hear Kalshi explain what non-predatory value the 15 minute crypto markets have.