#richgetricher — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #richgetricher, aggregated by home.social.
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"John Pederson, 33, couldn’t work. The former Outback Steakhouse line cook was recovering from a car crash and running out of money. Kalshi, the prediction market, promised a quick way to fix that. He took out a variable-interest loan and started betting.
At first, it worked. Pederson turned about $2,000 into close to $8,000 by betting on daily snowfall totals in Detroit, where he lives. He parlayed that into $41,000 by trading on sports, using a strategy he developed with the help of AI, according to a Wall Street Journal review of his account records.
Then he placed his most audacious bet yet: All $41,000 that a celebrity would say a particular word on TV. He lost it all.
Pederson isn’t alone in walking away empty-handed from the bet-on-anything markets, which cover sports, celebrities, news and more.Kalshi and its competitor Polymarket advertise themselves as life-changing tools for regular people—implying everyone has a fair chance to score. “I was about to be unable to pay my rent, but I got two years of rent through Kalshi’s predictions,” gushed one woman in a Kalshi ad on TikTok.
But for most users the reality is nothing like that.
Instead, casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch, according to a Journal analysis of platform data and interviews with traders.
On Polymarket, the Journal found, 67% of profits go to just 0.1% of accounts. That means less than 2,000 accounts netted a total of nearly half a billion dollars. The Journal analyzed 1.6 million Polymarket accounts that have traded since November 2022. There are at least 2.3 million total accounts on the site."
https://www.wsj.com/finance/investing/polymarket-kalshi-betting-profits-prediction-markets-eb23ac11
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"John Pederson, 33, couldn’t work. The former Outback Steakhouse line cook was recovering from a car crash and running out of money. Kalshi, the prediction market, promised a quick way to fix that. He took out a variable-interest loan and started betting.
At first, it worked. Pederson turned about $2,000 into close to $8,000 by betting on daily snowfall totals in Detroit, where he lives. He parlayed that into $41,000 by trading on sports, using a strategy he developed with the help of AI, according to a Wall Street Journal review of his account records.
Then he placed his most audacious bet yet: All $41,000 that a celebrity would say a particular word on TV. He lost it all.
Pederson isn’t alone in walking away empty-handed from the bet-on-anything markets, which cover sports, celebrities, news and more.Kalshi and its competitor Polymarket advertise themselves as life-changing tools for regular people—implying everyone has a fair chance to score. “I was about to be unable to pay my rent, but I got two years of rent through Kalshi’s predictions,” gushed one woman in a Kalshi ad on TikTok.
But for most users the reality is nothing like that.
Instead, casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch, according to a Journal analysis of platform data and interviews with traders.
On Polymarket, the Journal found, 67% of profits go to just 0.1% of accounts. That means less than 2,000 accounts netted a total of nearly half a billion dollars. The Journal analyzed 1.6 million Polymarket accounts that have traded since November 2022. There are at least 2.3 million total accounts on the site."
https://www.wsj.com/finance/investing/polymarket-kalshi-betting-profits-prediction-markets-eb23ac11
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"John Pederson, 33, couldn’t work. The former Outback Steakhouse line cook was recovering from a car crash and running out of money. Kalshi, the prediction market, promised a quick way to fix that. He took out a variable-interest loan and started betting.
At first, it worked. Pederson turned about $2,000 into close to $8,000 by betting on daily snowfall totals in Detroit, where he lives. He parlayed that into $41,000 by trading on sports, using a strategy he developed with the help of AI, according to a Wall Street Journal review of his account records.
Then he placed his most audacious bet yet: All $41,000 that a celebrity would say a particular word on TV. He lost it all.
Pederson isn’t alone in walking away empty-handed from the bet-on-anything markets, which cover sports, celebrities, news and more.Kalshi and its competitor Polymarket advertise themselves as life-changing tools for regular people—implying everyone has a fair chance to score. “I was about to be unable to pay my rent, but I got two years of rent through Kalshi’s predictions,” gushed one woman in a Kalshi ad on TikTok.
But for most users the reality is nothing like that.
Instead, casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch, according to a Journal analysis of platform data and interviews with traders.
On Polymarket, the Journal found, 67% of profits go to just 0.1% of accounts. That means less than 2,000 accounts netted a total of nearly half a billion dollars. The Journal analyzed 1.6 million Polymarket accounts that have traded since November 2022. There are at least 2.3 million total accounts on the site."
https://www.wsj.com/finance/investing/polymarket-kalshi-betting-profits-prediction-markets-eb23ac11
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"John Pederson, 33, couldn’t work. The former Outback Steakhouse line cook was recovering from a car crash and running out of money. Kalshi, the prediction market, promised a quick way to fix that. He took out a variable-interest loan and started betting.
At first, it worked. Pederson turned about $2,000 into close to $8,000 by betting on daily snowfall totals in Detroit, where he lives. He parlayed that into $41,000 by trading on sports, using a strategy he developed with the help of AI, according to a Wall Street Journal review of his account records.
Then he placed his most audacious bet yet: All $41,000 that a celebrity would say a particular word on TV. He lost it all.
Pederson isn’t alone in walking away empty-handed from the bet-on-anything markets, which cover sports, celebrities, news and more.Kalshi and its competitor Polymarket advertise themselves as life-changing tools for regular people—implying everyone has a fair chance to score. “I was about to be unable to pay my rent, but I got two years of rent through Kalshi’s predictions,” gushed one woman in a Kalshi ad on TikTok.
But for most users the reality is nothing like that.
Instead, casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch, according to a Journal analysis of platform data and interviews with traders.
On Polymarket, the Journal found, 67% of profits go to just 0.1% of accounts. That means less than 2,000 accounts netted a total of nearly half a billion dollars. The Journal analyzed 1.6 million Polymarket accounts that have traded since November 2022. There are at least 2.3 million total accounts on the site."
https://www.wsj.com/finance/investing/polymarket-kalshi-betting-profits-prediction-markets-eb23ac11
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"John Pederson, 33, couldn’t work. The former Outback Steakhouse line cook was recovering from a car crash and running out of money. Kalshi, the prediction market, promised a quick way to fix that. He took out a variable-interest loan and started betting.
At first, it worked. Pederson turned about $2,000 into close to $8,000 by betting on daily snowfall totals in Detroit, where he lives. He parlayed that into $41,000 by trading on sports, using a strategy he developed with the help of AI, according to a Wall Street Journal review of his account records.
Then he placed his most audacious bet yet: All $41,000 that a celebrity would say a particular word on TV. He lost it all.
Pederson isn’t alone in walking away empty-handed from the bet-on-anything markets, which cover sports, celebrities, news and more.Kalshi and its competitor Polymarket advertise themselves as life-changing tools for regular people—implying everyone has a fair chance to score. “I was about to be unable to pay my rent, but I got two years of rent through Kalshi’s predictions,” gushed one woman in a Kalshi ad on TikTok.
But for most users the reality is nothing like that.
Instead, casual traders are bleeding cash while a small number of sophisticated pros—including trading firms with access to vast streams of data—eat their lunch, according to a Journal analysis of platform data and interviews with traders.
On Polymarket, the Journal found, 67% of profits go to just 0.1% of accounts. That means less than 2,000 accounts netted a total of nearly half a billion dollars. The Journal analyzed 1.6 million Polymarket accounts that have traded since November 2022. There are at least 2.3 million total accounts on the site."
https://www.wsj.com/finance/investing/polymarket-kalshi-betting-profits-prediction-markets-eb23ac11
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Stocks tumble with Nasdaq 100 posting largest weekly loss since April tariff selloff. The ongoing Mideast war continues to leave investors jittery and unwilling to hold stocks over the weekend.The S&P 500, Nasdaq 100, and Russell 2000 all suffered heavy losses on Friday.
But Trump doesn’t care. He’s blackmailed by Russia and bought by Saudi Arabia.
#oligarchs #richgetricher #epstein #trump #blackmailed #bought -
“Basically, the underwriter of this world order has now become a revisionist power, and some people would even say a disruptor. But the larger point is that the erosion of norms, processes, and institutions that underpinned a remarkable period of peace and prosperity; that foundation has gone.” Singapore’s minister for foreign affairs, Dr. Vivian Balakrishnan
#richgetricher #poorgetpoorer #oligarchs #trump #fascism #graft #magasuckers -
The average Wall Street bonus rose to a record high of nearly $250,000, following a bonanza year for New York City’s investment banking powerhouses.
Howyoudooin?
#richgetricher #poorhetpoorer #thankamaga #inflation #highprices #affordability #trumpdoesntcare -
RE: https://masto.ai/@rbreich/116285092335401397
Monetizing the government.
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RE: https://masto.ai/@rbreich/116285092335401397
Monetizing the government.
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RE: https://masto.ai/@rbreich/116285092335401397
Monetizing the government.
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RE: https://masto.ai/@rbreich/116285092335401397
Monetizing the government.
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RE: https://masto.ai/@rbreich/116285092335401397
Monetizing the government.
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RE: https://aus.social/@mojo/116226909359896424
Hmmm: “Just 10 of the country's wealthiest electorates account for a third of the national expenditure on the CGT discount, according to the analysis of tax data by the Australian Council of Social Services (ACOSS). And that comes at a cost of about $23.5 billion per year to the taxpayer.
"It’s clear this tax break funnels billions into the wealthiest parts of our cities and country at the expense of those doing it tough," the group's CEO Dr Cassandra Goldie said.”
#AusPol #CGT #CapitalGainsTax #inequality #richGetRicher #tax #ACOSS
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RE: https://aus.social/@mojo/116226909359896424
Hmmm: “Just 10 of the country's wealthiest electorates account for a third of the national expenditure on the CGT discount, according to the analysis of tax data by the Australian Council of Social Services (ACOSS). And that comes at a cost of about $23.5 billion per year to the taxpayer.
"It’s clear this tax break funnels billions into the wealthiest parts of our cities and country at the expense of those doing it tough," the group's CEO Dr Cassandra Goldie said.”
#AusPol #CGT #CapitalGainsTax #inequality #richGetRicher #tax #ACOSS
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RE: https://aus.social/@mojo/116226909359896424
Hmmm: “Just 10 of the country's wealthiest electorates account for a third of the national expenditure on the CGT discount, according to the analysis of tax data by the Australian Council of Social Services (ACOSS). And that comes at a cost of about $23.5 billion per year to the taxpayer.
"It’s clear this tax break funnels billions into the wealthiest parts of our cities and country at the expense of those doing it tough," the group's CEO Dr Cassandra Goldie said.”
#AusPol #CGT #CapitalGainsTax #inequality #richGetRicher #tax #ACOSS
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RE: https://aus.social/@mojo/116226909359896424
Hmmm: “Just 10 of the country's wealthiest electorates account for a third of the national expenditure on the CGT discount, according to the analysis of tax data by the Australian Council of Social Services (ACOSS). And that comes at a cost of about $23.5 billion per year to the taxpayer.
"It’s clear this tax break funnels billions into the wealthiest parts of our cities and country at the expense of those doing it tough," the group's CEO Dr Cassandra Goldie said.”
#AusPol #CGT #CapitalGainsTax #inequality #richGetRicher #tax #ACOSS
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RE: https://aus.social/@mojo/116226909359896424
Hmmm: “Just 10 of the country's wealthiest electorates account for a third of the national expenditure on the CGT discount, according to the analysis of tax data by the Australian Council of Social Services (ACOSS). And that comes at a cost of about $23.5 billion per year to the taxpayer.
"It’s clear this tax break funnels billions into the wealthiest parts of our cities and country at the expense of those doing it tough," the group's CEO Dr Cassandra Goldie said.”
#AusPol #CGT #CapitalGainsTax #inequality #richGetRicher #tax #ACOSS
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A tale of two pairs of boots shows how the rich get richer in ways poor people simply can't
https://fed.brid.gy/r/https://www.upworthy.com/boots-theory-why-rich-get-richer-ex1
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A tale of two pairs of boots shows how the rich get richer in ways poor people simply can't
https://web.brid.gy/r/https://www.upworthy.com/boots-theory-why-rich-get-richer-ex1
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A tale of two pairs of boots shows how the rich get richer in ways poor people simply can't
https://web.brid.gy/r/https://www.upworthy.com/boots-theory-why-rich-get-richer-ex1
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About the US Economy
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About the US Economy
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About the US Economy
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About the US Economy
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That's right, @czarbucks ! Before #SuzanneCollins' #HungerGames (2008), there was #StephenKing's (#RichrdBachman's) #TheRunningMan (1982)!
https://en.wikipedia.org/wiki/The_Running_Man_(2025_film)
#KillThePoor #RichGetRicher
#Oligarchy #DOGE #BigUglyBill
#SNAPCuts #ClimateChange #FoodShortages #TrumpSucks #TaxBreaksForTheRich -
That's right, @czarbucks ! Before #SuzanneCollins' #HungerGames (2008), there was #StephenKing's (#RichrdBachman's) #TheRunningMan (1982)!
https://en.wikipedia.org/wiki/The_Running_Man_(2025_film)
#KillThePoor #RichGetRicher
#Oligarchy #DOGE #BigUglyBill
#SNAPCuts #ClimateChange #FoodShortages #TrumpSucks #TaxBreaksForTheRich -
That's right, @czarbucks ! Before #SuzanneCollins' #HungerGames (2008), there was #StephenKing's (#RichrdBachman's) #TheRunningMan (1982)!
https://en.wikipedia.org/wiki/The_Running_Man_(2025_film)
#KillThePoor #RichGetRicher
#Oligarchy #DOGE #BigUglyBill
#SNAPCuts #ClimateChange #FoodShortages #TrumpSucks #TaxBreaksForTheRich -
That's right, @czarbucks ! Before #SuzanneCollins' #HungerGames (2008), there was #StephenKing's (#RichrdBachman's) #TheRunningMan (1982)!
https://en.wikipedia.org/wiki/The_Running_Man_(2025_film)
#KillThePoor #RichGetRicher
#Oligarchy #DOGE #BigUglyBill
#SNAPCuts #ClimateChange #FoodShortages #TrumpSucks #TaxBreaksForTheRich -
That's right, @czarbucks ! Before #SuzanneCollins' #HungerGames (2008), there was #StephenKing's (#RichrdBachman's) #TheRunningMan (1982)!
https://en.wikipedia.org/wiki/The_Running_Man_(2025_film)
#KillThePoor #RichGetRicher
#Oligarchy #DOGE #BigUglyBill
#SNAPCuts #ClimateChange #FoodShortages #TrumpSucks #TaxBreaksForTheRich -
Rising Food Prices Are Likely to Continue, Thanks to #Trump’s Trade Wars
Wholesale prices on fresh and dry vegetables rose nearly 40 percent, and soon consumers will feel the pinch
By Peter Wade, August 17, 2025
"As wholesale and consumer prices have risen, so has the demand on food banks, which were already hit hard with shortages due to federal budget cuts earlier this year and actions at the so-called Department of Government Efficiency. The “One Big Beautiful Bill” congressional Republicans passed last month also cut Supplemental Nutrition Assistance Program (#SNAP) benefits by $186 billion, meaning more people may be turning to increasingly strapped food banks to make up for the loss in food assistance."
Read more:
https://www.rollingstone.com/politics/politics-news/rising-food-prices-trump-trade-wars-1235410245/Archived version:
https://archive.ph/kvJTy#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages #TrumpSucks #TaxBreaksForTheRich
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Rising Food Prices Are Likely to Continue, Thanks to #Trump’s Trade Wars
Wholesale prices on fresh and dry vegetables rose nearly 40 percent, and soon consumers will feel the pinch
By Peter Wade, August 17, 2025
"As wholesale and consumer prices have risen, so has the demand on food banks, which were already hit hard with shortages due to federal budget cuts earlier this year and actions at the so-called Department of Government Efficiency. The “One Big Beautiful Bill” congressional Republicans passed last month also cut Supplemental Nutrition Assistance Program (#SNAP) benefits by $186 billion, meaning more people may be turning to increasingly strapped food banks to make up for the loss in food assistance."
Read more:
https://www.rollingstone.com/politics/politics-news/rising-food-prices-trump-trade-wars-1235410245/Archived version:
https://archive.ph/kvJTy#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages #TrumpSucks #TaxBreaksForTheRich
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Rising Food Prices Are Likely to Continue, Thanks to #Trump’s Trade Wars
Wholesale prices on fresh and dry vegetables rose nearly 40 percent, and soon consumers will feel the pinch
By Peter Wade, August 17, 2025
"As wholesale and consumer prices have risen, so has the demand on food banks, which were already hit hard with shortages due to federal budget cuts earlier this year and actions at the so-called Department of Government Efficiency. The “One Big Beautiful Bill” congressional Republicans passed last month also cut Supplemental Nutrition Assistance Program (#SNAP) benefits by $186 billion, meaning more people may be turning to increasingly strapped food banks to make up for the loss in food assistance."
Read more:
https://www.rollingstone.com/politics/politics-news/rising-food-prices-trump-trade-wars-1235410245/Archived version:
https://archive.ph/kvJTy#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages #TrumpSucks #TaxBreaksForTheRich
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Rising Food Prices Are Likely to Continue, Thanks to #Trump’s Trade Wars
Wholesale prices on fresh and dry vegetables rose nearly 40 percent, and soon consumers will feel the pinch
By Peter Wade, August 17, 2025
"As wholesale and consumer prices have risen, so has the demand on food banks, which were already hit hard with shortages due to federal budget cuts earlier this year and actions at the so-called Department of Government Efficiency. The “One Big Beautiful Bill” congressional Republicans passed last month also cut Supplemental Nutrition Assistance Program (#SNAP) benefits by $186 billion, meaning more people may be turning to increasingly strapped food banks to make up for the loss in food assistance."
Read more:
https://www.rollingstone.com/politics/politics-news/rising-food-prices-trump-trade-wars-1235410245/Archived version:
https://archive.ph/kvJTy#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages #TrumpSucks #TaxBreaksForTheRich
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Rising Food Prices Are Likely to Continue, Thanks to #Trump’s Trade Wars
Wholesale prices on fresh and dry vegetables rose nearly 40 percent, and soon consumers will feel the pinch
By Peter Wade, August 17, 2025
"As wholesale and consumer prices have risen, so has the demand on food banks, which were already hit hard with shortages due to federal budget cuts earlier this year and actions at the so-called Department of Government Efficiency. The “One Big Beautiful Bill” congressional Republicans passed last month also cut Supplemental Nutrition Assistance Program (#SNAP) benefits by $186 billion, meaning more people may be turning to increasingly strapped food banks to make up for the loss in food assistance."
Read more:
https://www.rollingstone.com/politics/politics-news/rising-food-prices-trump-trade-wars-1235410245/Archived version:
https://archive.ph/kvJTy#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages #TrumpSucks #TaxBreaksForTheRich
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I'd say this tweet aged well... Unfortunately...
#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages
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I'd say this tweet aged well... Unfortunately...
#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages
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I'd say this tweet aged well... Unfortunately...
#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages
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I'd say this tweet aged well... Unfortunately...
#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages
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I'd say this tweet aged well... Unfortunately...
#KillThePoor #RichGetRicher #Oligarchy #HungerGames #DOGE #BigUglyBill #SNAPCuts #FoodShortages
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Trump’s Big Ugly Bill Revisisted
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Trump’s Big Ugly Bill Revisisted
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Trump’s Big Ugly Bill Revisisted
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Trump’s Big Ugly Bill Revisisted
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