Comment Text:
To be completely clear, Polymarket and Kalshi are 100% about gambling. Identifying themselves as "Commodity Futures" is a transparent and despicable lie designed to provide the minimum legal coverage for them to continue to operate. They assume they have the support of the CFTC not because their business is honest or provably legal, but because they believe they have allies who will simply turn a blind eye to what is clearly blatant corruption.
Gambling on real-world events constructs a landscape composed almost entirely of conflicts of interest. It is impossible for this business to be honest. Kalshi and Polymarket may claim to have controls in place to prevent abuse, but they cannot ever stem the abuse generated by their platform because their product is said abuse.
These companies deserve the strictest regulation the CFTC is able to perform. Given my own preference, the companies would be dissolved completely.
