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zzz's avatar

What exactly are the responsibilities of people who join the lawsuit?

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mj9QBwJ_uK9's avatar

I’m also curious about this. Are we just essentially signing a petition, or is it more involved?

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Kevin's avatar

The CFTC action against PredictIt got me to open an account and start trading, and whenever I hear about it I add more money. I also don't plan on using Kalshi.

This might just be legal strategy, but I am disappointed that the suit is only asking for the revocation to be stayed until existing contracts are wound down. I had hoped to see some kind of argument against the CFTC's authority in this case. It seems to be generally accepted that the legality of prediction markets is within their purview to decide, but wholesale banning of market verticals screams regulatory overreach to me. The court could throw it out, but let them do that.

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Thomas L. Hutcheson's avatar

Best of luck. At least the suit ought to force the CTF to disclose the cost benefit analysis used to arrive at their decision.

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