Won over 60k on kalshi but I am done with this pyramid scheme and why you should be too
Like the title said. During the world cup made some great money. I believe the world cup gave this platform such high new userbase and did what it was meant to do which was make people stick around post world cup. The problem? Once something begins to become almost "cultural" it begins to go down the drain.
Kalshi used to gives you what I call "Corner" meaning it gave you advantages like being able to cash out for almost close to your final payout as long as the game was almost over and you were up. Now? I see people locked into a bet when one soccer team is up 1-0 and the game has five minutes left. When people raise concerns you find kalshi defense soldiers come to make excuses. Saying that no one is buying his position or there is lack of volume. IF the game has a starting of a quarter of a million I don't believe no one wants to buy a winning position with 5-3 minutes left.
There is a belief that there is "no house" with kalshi. However the reality is class actions that they are fighting exposes that kalshi is house and do buy up positions themselves. Something most people already knew that kalshi used bots to achieve this malpractice. You will get the crumbs when trying to hedge your bets while kalshi bots get first dips on the best prices.
Then you have not displaying accurate live information while claiming to do so. This has costs people so much money.
My very last point. Trump jr is an advisor for these prediction apps. Heavily involved. I am not anti trump or a political opposition. However, when a family who has stolen money from their proclaimed "cancer charity fund" is in government and also behind the scenes in these prediction market one can only know it's only a matter of time until the casino begins to show itself as a circus.
Just stop now. They want you to win at the start and believe it's fair and that the kalshi doesn't make money whether you win or lose. They want you to win so you continue to use and they want you to lose so you make money back. In the very end once it has became part of your daily routine they will only want you to lose as they pull every corner they used to once give you to their own advantage instead of yours.
These aps should not prosper. They are what society claims to hate of only making the rich richer. They do not truly block out insiders from trading like they claim to do. As there are loopholes on what defines an insider.