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Comment Another of those preclusive authorities? (Score 2) 201

Is insider trading one of those preclusive constitutional authorities the Supreme Court was talking about? Or will this fall under an unofficial act?

It's hard to tell since the Supreme Court has said a president is immune from nearly every crime even though the Founding Fathers said the opposite.

Comment Your Law should be Your Maintenance Cost (Score 1) 58

...requires age verification on traffic coming from known VPN addresses

A state enacting such a law should be required to publish their official list of The Known VPN Addresses.

People running websites should not be required to make up that data, or have to pay to subscribe to someone else who makes it up. If the gummint wants to force something that ridiculous on us, the gummint should make the taxpayers, not the webmasters or their users, pay for it.

Comment Would this inefficient workaround be legal? (Score 1) 56

Set up two companies in a state or country where there are no legal issues. One says "invest in us, if [event] happens by [date], we will pay off more than you invest because company #2 will turn all their assets over to us" and the other says "invest in us, if [event] does not happen by [date], we will pay off more than you invest because company #1 will turn all of their assets over to us." Set up both companies to liquidate and return assets to stakeholders on [date].

Then list the companies on an exchange accessible to US residents or if that's not possible, create a pair of holding companies or closed-end mutual funds that own 100% of company #1 and company #2 above and list them on an exchange accessible to US residents.

If this would be a legal way for New York residents to invest in the outcomes of events, it sounds like Kalshi is just doing the above but without all of the middlemen and inefficiencies that come with middlemen.

If this is not legal, I would ask "why not?"

Comment Re:it is destroying evidence like it or not (Score 2) 182

If data that you own is not personal property, then what is it?

This is like saying the words on a page are not personal property, but the paper is. No court would agree to that.

Personal property is anything you own or have possesion of, including intangibles such as stock or copyrights, that is not attached to land or fixed to real estate. Data on a phone falls within that definition. The phone is a physical item you own. It's your personal property. The data within the phone is also personal property, though intangible.

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