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Message
LA AG gets restraining order over "Prediction Markets"
Posted on 11/12/26 at 7:26 pm
Posted on 11/12/26 at 7:26 pm
Statement from the AG's FB:
She filed this in Tangipahoa
quote:
Breaking: Louisiana judge orders temporary restraining order prohibiting Kalshi, Polymarket, Coinbase, Robinhood, and other “prediction market” operators from continuing their unlicensed and unregulated illegal gambling in Louisiana.
It’s not complicated: if you aren’t a licensed gaming operator, you aren’t legal. Illegal gambling is a crime and is subject to jail time and significant penalties. Judges all over the country have overwhelmingly called this activity what it is: gambling. Kalshi’s and the other operators’ attempts to make up new words to evade state gambling laws, regulators, and taxes are not fooling anyone.
She filed this in Tangipahoa
Posted on 11/12/26 at 7:29 pm to SlowFlowPro
How much of a paycheck you think she got from LA based gambling orgs?
Posted on 11/12/26 at 7:29 pm to SlowFlowPro
Does this mean I need to cash out my "predictions" on the midterms through Robinhood
Posted on 11/12/26 at 7:30 pm to SlowFlowPro
I misread LA as L.A. Speaking of which Barnes went after Ro a little bit last week over this.
Loading Twitter/X Embed...
If tweet fails to load, click here.Posted on 11/12/26 at 7:31 pm to Centinel
I don't think there are any.
LM likes to get headlines and this is going to be national.
The Trump admin isn't a fan of states doing this
LM likes to get headlines and this is going to be national.
The Trump admin isn't a fan of states doing this
quote:
As prediction markets’ volumes grow at a ruthless pace, their businesses are being challenged by states across the country. The federal government is fighting a multifront battle to stop the state actions and assert its regulatory authority.
quote:
The Commodity Futures Trading Commission argues it’s the only entity that can regulate these platforms, and the agency has sued six states to defend what it describes as its “exclusive jurisdiction” over prediction markets.
Minnesota became the latest in the government’s crosshairs Tuesday, when the commission sued the state after Gov. Tim Walz signed a law as part of a broader online safety package that would ban prediction markets from operating in the state — a first in the country.
Jeff Le Riche, a former chief trial attorney at the CFTC and now a partner at Husch Blackwell, said the aggressive strategy isn’t typical of the federal agency. “The suing of states is unusual,” he said. “That’s definitely a different tactic.”
Posted on 11/12/26 at 7:31 pm to SlowFlowPro
Draft kings and fan duel and hard rock campaign checks musta cleared.
Posted on 11/12/26 at 7:31 pm to Bunk Moreland
Ro will change his mind once he figures out how to get paid by those markets.
Posted on 11/12/26 at 7:33 pm to Bunk Moreland
Robert’s take is pretty retarded. Young men literally have casinos in their pockets with apps that allow for betting. With casinos, you at least have to drive to them which most young people don’t do.
Posted on 11/12/26 at 7:33 pm to Bunk Moreland
Sports betting was nowhere near as popular as it is now
Bets placed at actual sports books in casinos was a very small fraction of what is bet now that it is on your phone
Bets placed at actual sports books in casinos was a very small fraction of what is bet now that it is on your phone
Posted on 11/12/26 at 7:36 pm to SlowFlowPro
quote:
She filed this in Tangipahoa
Call her up and tell her why she’s wrong. She’ll be all ears.
Posted on 11/12/26 at 7:36 pm to olehickory1767
quote:
Robert’s take is pretty retarded. Young men literally have casinos in their pockets with apps that allow for betting. With casinos, you at least have to drive to them which most young people don’t do.
Which casinos don't have apps?
Posted on 11/12/26 at 7:36 pm to crimsonsaint
quote:
Call her up and tell her why she’s wrong
wut
Posted on 11/12/26 at 7:44 pm to SlowFlowPro
quote:
She filed this in Tangipahoa
She might have done better if she filed it in Winn Parish.
Why Winn? Winn is one of nine parishes that voted down mobile sports betting in Louisiana. Tangi isn’t one of them.
Plus, it has nice ring to it.
Overall, the case should resolve itself in the Federal court system instead of a Louisiana District Kangaroo Court.
This post was edited on 11/12/26 at 7:46 pm
Posted on 11/12/26 at 7:47 pm to Bunk Moreland
quote:
Banning prediction markets on sports would only enrich the big casinos, whose behavior is far more harmful to young Americans,
Bull-fricking-shite on that fat arse lie.
You actually have to take your arse to a casino. Being able gamble on every little thing off your phone is horrible and makes falling into addiction far easier.
This post was edited on 11/12/26 at 8:43 pm
Posted on 11/12/26 at 7:56 pm to Dr RC
quote:
You actually have to take your arse to a casino.
Casinos have apps, too
Posted on 11/12/26 at 8:01 pm to SlowFlowPro
It’s not gambling- that’s illegal in Louisiana. It’s gaming!
If it works for the state…
If it works for the state…
Posted on 11/12/26 at 8:12 pm to SlowFlowPro
quote:
Prediction Markets
These things need to be stopped. They are manipulating elections. People are going to vote based on what they bet on and it's not in the nature of our elections.
Posted on 11/12/26 at 8:14 pm to SlowFlowPro
Got to love republicans
Posted on 11/12/26 at 8:22 pm to SlowFlowPro
I’m making a distinction between prediction markets and betting apps.
But in my opinion, all betting apps should be banned - the average human brain is already addicted to their phone so making your phone a virtual casino is a horrible idea.
But in my opinion, all betting apps should be banned - the average human brain is already addicted to their phone so making your phone a virtual casino is a horrible idea.
Posted on 11/12/26 at 8:23 pm to SlowFlowPro
From a philosophical perspective, I don’t think we should be regulating any of this.
However, from a pragmatic perspective, if we are going to regulate gambling, can someone explain to me how “prediction markets” are sufficiently different from “gambling” such that it should escape similar regulation?
However, from a pragmatic perspective, if we are going to regulate gambling, can someone explain to me how “prediction markets” are sufficiently different from “gambling” such that it should escape similar regulation?
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