Desk note · Sep 23, 2026
The post with the widest reach was More Perfect Union writing that Kalshi has asked the CFTC to allow margin on its prediction contracts, so a user could trade an event with borrowed money. That is a different product from a cash pool. Borrowed exposure is how a forecast becomes a leverage trade.
Polymarket spent the same days on news rather than on a token: Chinese generals expelled from the party, a Gaza recovery plan, a market on a White House visit, a Brazil election price one account put at 58.9% for Flávio Bolsonaro on about $154 million of volume. The same post said Polymarket had been banned in Brazil. Pitch accounts were also quoting private marks near $26 billion for Kalshi and $22 billion for Polymarket. Those are pitches, not filings.
Oracle markets on QEHFX are parimutuel. You fund the stake in cash on the platform ledger. We do not lend you the stake. The demand in the posts is still familiar: a public price on something that has not happened yet, and an argument about who is allowed to offer it.