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I'm not a fan of states regulating gambling, but Kalshi's "oh, it's not a bet, it's a contract" thing was such a smug example of semantics that I can't believe they couldn't see this coming.

some territories are moderated

Don't they know those smug semantics are only for the regime?

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All Kalshi has to do is pay tribute to the state patronage network, must have inexperienced counsel who thought the law mattered

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