{"id":3665,"date":"2024-01-11T14:06:29","date_gmt":"2024-01-11T14:06:29","guid":{"rendered":"https:\/\/sensmagazine.com\/rw\/?p=3665"},"modified":"2024-03-26T09:14:06","modified_gmt":"2024-03-26T09:14:06","slug":"kalshi-faces-criticism-over-trading-contracts-on-us-elections-debate-on-commodification-of-democratic-process","status":"publish","type":"post","link":"https:\/\/sensmagazine.com\/rw\/kalshi-faces-criticism-over-trading-contracts-on-us-elections-debate-on-commodification-of-democratic-process\/","title":{"rendered":"Kalshi Faces Criticism Over Trading Contracts on US Elections: Debate on Commodification of Democratic Process"},"content":{"rendered":"\n

Kalshi, a fintech startup, has been criticized for allowing financial bets on the outcome of US elections, particularly the 2024 presidential election. The platform, which allows users to trade event contracts on current affairs like national elections, is similar to trading on the stock market but more closely aligned with commodity trading. Kalshi focuses on events of economic and social value, similar to insurance. It also allows users to wager on the likelihood of natural disasters, similar to insurance companies factoring in flood insurance. However, critics argue that this is the same as insurance companies factoring in flood insurance decisions. Last year, Kalshi requested approval to trade contracts during elections, leading to backlash from progressives and Democratic senators. They called on the Commodity Futures Trading Commission (CFTC) to reject Kalshi’s proposal, arguing that mass commodification of the democratic process would raise concerns about the integrity of the electoral process and undermine confidence in the political process.<\/p>\n\n\n\n

More: https:\/\/www.aljazeera.com\/economy\/2024\/1\/10\/some-companies-want-to-bet-on-us-elections-not-everyone-agrees<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kalshi, a fintech startup, has been criticized for allowing financial bets on the outcome of US elections, particularly the 2024 presidential election. The platform, which allows users to trade event contracts on current affairs like national elections, is similar to trading on the stock market but more closely aligned with commodity trading. Kalshi focuses on<\/p>\n","protected":false},"author":2,"featured_media":3666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[104],"ppma_author":[122],"class_list":{"0":"post-3665","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-around-the-world"},"yoast_head":"\nKalshi Faces Criticism Over Trading Contracts on US Elections: Debate on Commodification of Democratic Process - SENS Magazine Rwanda<\/title>\n<meta name=\"description\" content=\"Kalshi, a fintech startup, has been criticized for allowing financial bets on the outcome of US elections, particularly the 2024 presidential election.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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