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Man who lost $308,000 on sports bets sues Kalshi for offering illegal gambling (arstechnica.com)
submitted 2 days ago by to c/technology@lemmy.world
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[–] 58 points 2 days ago (7 children)

I hope he wins, but I'm guessing first thing they're doing is saying "He signed a forced arbitration clause, and here's the 42 places in the ToS where he signed that he was okay with it", and the judge will throw it out

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  • [–] 39 points 2 days ago (4 children)

    Forced arbitration illegal when?

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  • [–] 9 points 2 days ago (2 children)

    A lot of arbitration clauses can be opted out of. This was the case with most of my credit card agreements when I was reading through them. It involves sending a letter saying that you want to opt out of arbitration. The clause is usually within the mass of text and not easy to find, but it's there.

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  • [–] 9 points 2 days ago (1 child)

    A lot of arbitration clauses are thrown out by courts once they manage to get it in front of a real judge and not a paid stooge. The feeling you get when the arbitrator goes against the company paying them though.

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  • [–] 1 point 2 days ago

    Also, many arbitration clauses state that the company pays for arbitration costs as long as your claim is not frivolous. There was an attempted class-action case against Valve some time ago, and Valve pleaded that the contract required individual arbitration. So the law firm representing the customers filed tens of thousands of demands for arbitration for each individual customer, each of which surely would result in hundreds or thousands of dollars in arbitration costs for Valve...

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