For those unaware, Kalshi is a federally regulated U.S. financial exchange that lets people trade on the outcomes of real-world events.
Translation: Bet on anything you want anytime and anywhere.
And according to “MoneyWise” Kalshi reportedly gave Trump Jr. a $300K stake when it was worth $2B. And now that it is worth $22B, it wants to allow borrowed-money bets.
Cue up today’s rant by Scoob Martin…who is somewhat of a self-proclaimed gambler himself, with his $0.50 cents worth (adjusted for wartime inflation) about gambling on anything and everything with government approval.
The stage is all for you, Scooby Dooby Doooo.
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It truly is a sad day when corruption no longer lurks in the shadows and is, instead, in your face 24/7.
And I’m wondering how Donald Trump Jr. got a $300K stake in Kalshi for free…and that was before Kalshi went up 11 times in value.
Did Trump Jr. have any influence?
And why did the CFTC give Kalshi approval?
Oh, Wait! Didn’t Trump Sr. appoint the head of the CFTC?
Seriously, what does Kalshi have to do with commodity futures, deliveries, margins, spec limits, actual commerce??
I remember last year when, Kalshi (after giving Jr. $300K of equity in Kalshi) bragged about Jr. saying: “his extensive business experience and influence … brings a fresh perspective to Kalshi as we continue to push prediction markets into the mainstream.”
LMAO!
Kalshi’s announcement also included a statement Trump Jr. had previously made on X, in which the president’s son said he “immediately knew I had to contribute to their [Kalshi’s] mission” after seeing the prediction platform correctly call the 2024 presidential race for his father.
So, did their prediction have anything to do with Trump winning the 2024 election…and Jr. subsequently getting his free equity stake?
Donnie jr. probably hasn’t worked a day in his life.
But he is more than happy to ride daddy’s coattails…especially when he gets freebies in companies that advocate gambling and are protected by the government.
The Trump administration’s perceived support for prediction market platforms like Kashi and Polymarket* (*Jr. sits on the board of both companies) is making getting hooked on Sports betting and prediction market platforms a cinch.
And it has opened the doors for other platforms like Novig who went viral with their Sydney Sweeny campaign.
Sorry/Not Sorry…but I just had to throw in a couple of Ms. Sweeneys pics.
I never thought I would say this, James, but this current administration is shaping up to be even more corrupt that the Biden or Obama administration.
And they are not even trying to hide how they are using government influence to promote what was once considered illegal activities, to further enrich their coffers.
Meanwhile, the average Joe is ending up like something right out of a George Orwell novel.
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