The Regulatory Arbitrage【電子書籍】[ Robert Walker ]

＜p＞＜strong＞How do you turn gambling into a multi-billion dollar financial market?＜/strong＞ You simply find the right loopholeーand bet that no one is clever enough to close it.＜/p＞ ＜p＞This is the untold, high-stakes story of the ＜strong＞$25 billion regulatory arbitrage＜/strong＞ that shook American governance to its core. Prediction market platforms like ＜strong＞Kalshi＜/strong＞ and ＜strong＞Polymarket＜/strong＞ achieved the impossible: federal approval to operate as derivatives exchanges, allowing them to sell contracts on everything from NFL games to presidential elections. They claimed these were sophisticated "hedging instruments." In reality, they were running a national, ＜strong＞tax-exempt sportsbook＜/strong＞.＜/p＞ ＜p＞The result was a structural flaw that generated staggering profits:＜/p＞ ＜ul＞ ＜li＞＜strong＞The Tax Dodge:＜/strong＞ By obtaining a federal license, platforms sought to override state-level Gross Gaming Revenue taxes, which hit licensed sportsbooks at crushing rates from 20% ．．．楽天市場のショップで商品詳細の続きを見る