Haynes Boone Partner Brian Sung spoke with CNBC as prediction market platform Kalshi has brought in 3 million new users over the course of the World Cup. The soccer tournament has also sent trading volumes higher on the platform as speculators seek to place trades on the games.
Read an excerpt below.
Brian Sung doesn’t think the advertising strategies impact how courts may rule in the future, but said it does impact the view of prediction markets.
“It does kind of weaken their perception, in public or politics,” he said. “They are trying to push against this idea that they’re really only about sports. I mean, that is where the bulk of their activity is.”
Read the full CNBC article here.
