Obviously there’s definitely a market for shares in a failed prediction that’s already been resolved; who wouldn’t want some shares. As a souvenir maybe? Or to put in a decorative centerpiece at your divorce party?
I’m sure it’s fine! They wouldn’t have risked $40,000 if they didn’t have $40,000 to risk, right?
Yea, nobody in their right mind would risk losing money they can’t afford, and absolutely no one ever would lend money for something this risky.
Everyone’s parents die once
Did they just think they’d only win/lose a percentage?
First of all, I think this is a bit.
But (and this is my understanding, although I’ve never tried it) on Kalshi you buy a contract that says “if X happens, this contract can be redeemed for Y money” and then you can, in turn, sell that contract to someone else before it expires/pays out. So you can actually make money by trading the contracts regardless of whether they pay out or not—you buy at some price, and then if the contract price goes up (either because the event seems more likely, or because many people were buying it in the hopes of selling later) you can sell it to someone else at a profit. This is the sense in which it’s like a stock market.
So there’s like two layers to the joke here, one is intentionally misunderstanding the way Kalshi is like stocks (it’s actually more like options, which do expire and become worthless) and the other is that sometimes stocks really do go to zero.
Yep. They play hot potato with the contracts until some loser gets stuck with it
Ya, on the second read I got that it was a joke… (bit slow today)
“well Republicans kept 45% of the Senate, so I should get to keep 45% of my money”
