Cruise began in Seattle on October 13. We arrive in Miami tomorrow. However, while almost everyone else leaves the ship, we remain for another two weeks.
- The odds seem to be set at 48-52, meaning no matter who you vote for, if you bet $50, you will win $48, plus get back the $50. This could change.
- What happened?
- The Commodity Futures Trading Commission, which regulates financial contracts that bet on events, had consistently blocked applications to open up betting.
- But last month, a U.S. district court sided with one of those companies seeking this availability, Kalshi, clearing the way to allow betting.
- The CFTC appealed. This U.S. government agency was created in 1974 to regulate the U.S. derivatives markets, Current chairperson is Brooksley Born.
- Like all of Donald Trump's convictions, there won't be any decision until next year, so Kalshi and other companies are now being allowed to handle election betting.
- Kalshi began getting action, and in the first three weeks hit $30 million. This surged to $139 million yesterday.
- Kalshi has allowed any individual bettor to wage a much as $100 million on the outcome of the November 5 Trump vs Harris election.
- Other companies taking bets are Interactive Brokers and Robinhood.
- You should not confuse the legal betting above with crypto-based betting platforms like Polymarket, which says they are hosting over $2 billion in bets, but from foreign traders. This is technically banned in the U.S., although encryption internet networks can provide access for the adventuresome. The CFTC slapped the company with a $1.4 million fine in 2022 for opening up their platform to betting.
- There are other unusual platforms. PredictIT, run by Victoria University of Wellington in New Zealand, offers contracts with a betting limit of $850. Apparently, Americans can participate.
- Four weeks were added.
- Now, DST starts on the second Sunday in March, and ends on the first Sunday in November.
- 70 countries use some form of DST, meaning most don't bother. But keep in mind that the dates do not coincide with the U.S.
- Most of Europe, for example, went ahead and Fell Back one hour a week ago at 1AM.
- Egypt Fell Back at midnight on the last Thursday in October, and will Spring Forward at midnight the last Friday in April.
- Hawaii and Arizona do not observe DST. We don't need to making any adjustments.
- Florida and California are close to making DST permanent, that is, all year, instead of just March to November. The Sunshine Protection Act in Congress also might someday make this national. The motivation is that all this disruption will thus be avoided.
- The reason why this discombobulation occurred was to to conserve energy. Has it?
- The Department of Energy found about 0.5% drop in electricity usage/day.
- Such a small amount for this inconvenience,
- However, this savings is about the amount of electricity used by more than 100,000 households for an entire year.
- But, the National Bureau of Economic Research showed that demand for heating and cooling increased, so electricity was actually about the same.
Last night, dinner. First a Double Gin Martini, I ordered three appetizers, and asked for them all to be brought to the table at the same time. Never happens. Meatballs.
Asparagus soup.Her two entrés. Spaghetti alla Puttanesca (garlic, olives, anchovies and capers--invented in the brothels of Naples--the Italian Putta is whore in English) and lamb shank.
Finally came the Caesar Salad.
Dessert.
Ice carving.
Well, my final posting on the first phase on the Norwegian Encore. Tomorrow in Miami we shift from the port side to starboard for another 14 days to Southampton, UK., arriving on November 24.
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