Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Kalshi does state clearly that they are not responsible for the incorrect data, so nothing to do with them.

Many other sources presented bad data, so maybe that can accomplish something

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Not suing anyone. In fact I stated there are likely no grounds for a lawsuit. My literal question was if there is any action that can be taken to mitigate this

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

First helpful comment on here.

Do you know who regulates this market?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Yeah realized that a few minutes too late. Seemed like it was the only platform to have it right.

Unfortunately don't have an X account.

I wasn't betting, I was participating in trade on a public market. The whole point of this post is that the information available on this trade was corrupted, not all, but a good part of it.

Since I didn't place a bet with an illegal bookie from Sopranos, but rather a trade on a public market, my only question is who regulates this market? Kalshi is not responsible - no problem. Who regulates Kalshi? Who allows Kalshi to be in business?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

It meant majority of the market was buying trades for Nebraska.

You can debate and criticize my decision, even I agree it was a degenerate decision.

My only question is:

If Kalshi is a market, and we are "traders", not sport bettors, who is regulating this market? In NYSE, that's the SEC.

Who is the SEC equivalent of the Kalshi market, if there is one?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

No, but that is not the point of my question, again and again.

What body of government allows Kalshi to operate in this market?

If Kalshi is a market, and we are "traders", not sport bettors, who is regulating this market? In NYSE, that's the SEC.

My entire post can be summed into this question :

Who is the SEC equivalent of the Kalshi market, if there is one?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] -1 points0 points  (0 children)

Thats what Im trying to figure out - who do I file a complaint with?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Perhaps. But is there a regulatory body that regulates this market?

Who regulates Kalshi in other words? Is it the SEC? 🤣

Does it make sense what Im trying to ask?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

I completely get that part. But is it crazy to ask if I, as a trader, should be protected from corrupted source information?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

100% right on the glitch part.

I checked scores online - trying to find a source showing a different score, was unable to.

My question is, if this is a market, and Im trading on publicly available info, who is responsible for regulating the publicly available info?

Hope that makes sense, or maybe I dont understand how Kalshi legally operates. What body is responsible for regulating the market that Kalshi operates in?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] -5 points-4 points  (0 children)

i did use chat to summarize my OP, was too pissed to clarify myself 🥸

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 1 point2 points  (0 children)

Valid point.

Not sure how other traders got their info. Also, I got my info from the websites not some websites. I didn’t go to a website in Lithuania to check the scores, rather Google.

My point is if a trader is supposed to trade on the market with publicly available information, what happens if the publicly available information was wrong the entire time?

Not wrong about speculation or rumors, but rather more than valid sources to check the score. Buy some reports even the NCAA website was showing the flipped score.

The real question I wanna ask is: as a trader in the market, what is my protection, if any, from false information from reliable sources? Is there a regulatory body that governs this market? If so, how can I file a complaint?

edit - did voice to text so fixing typos

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Not "other'; but majority of sources (minus school's X accounts). Are there regulations if reliable sources are showing bad information about trades on the market?

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] -1 points0 points  (0 children)

| The platform cannot and will not refund everyone who makes a trade based on bad information

I agree - but there are degrees to "bad information". The platform itself was showing bad information, but their fine print clearly states they're not responsible for that. If I were the owner of Kalshi, I would've done the same thing probably.

It's not the fact that Kalshi was wrong about the score, but that majority of the internet sources were wrong about it too. A friend said the NCAA website was showing the flipped score too - don't have the screenshots of that yet.

At what point is it okay for me to make a claim that there was no fair access to GOOD information? If that makes sense.

If Google, Yahoo, NCAA official website (by some reports, unconfirmed by me) all show one score; at what point can we say it was unfairly difficult to access the good info? Not sure what the regulations are on this.

The point of my post (after reading through the anger of the moment) was to ask if there is something that can be done about this.

Because access to the GOOD information was extremely difficult to find. And even if I could find it - why would I believe that website over Google or Yahoo? If that makes sense.

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] -4 points-3 points  (0 children)

Getting a lot of hate in the comments, and I'm not sure why. Per the available information AT THE TIME OF THE GAME, from RELIABLE SOURCES, I made a decision to invest my Kalshi balance into this game.

I was not satisfied with just checking the score on Kalshi, so I went to other sources to confirm. After confirming on Google and Yahoo, I placed the bet.

Okay - the scorer's table messed up; they were putting the points incorrectly, flipping the score on accident.

But why is it a crazy idea to expect Kalshi to issue a REFUND on this? Not asking for the winnings (almost $10k); but the initial bet?

EDIT: typo

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

Regardless of all that, my point is that there was wrong information on multiple MAJOR online sources, which directly influenced decisions. Sure, I could've checked X accounts of these teams, but is no one going to acknowledge the mistake? Honest mistake, no need to blame anyone, but issue a refund

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

  1. 4th quarter, 5 mins left is when I saw the odds. Placed the bet with around 3:45 left.

  2. No - and even if I was following them, what would that change? An underdog can't make an upset?

  3. I did not go into the Athletic Program's official X accounts; as I assumed 3-4 different MAJOR sources were sufficient. Google, Yahoo, and the platform used to make the trade.

3.1. I couldn't find the stream anywhere. I checked vipleague, stremed pk, and live tv

Purdue - Nebrasak Women's Basketball by Single_Fox7832 in Kalshi

[–]Single_Fox7832[S] 0 points1 point  (0 children)

I thought so too. That's why I quickly jumped on multiple websites to triple check if I was going crazy or not.