Oh word? what specific commodity is being traded?

The CFTC was created to hedge real risk. Onions iirc?

Kalshi creates risk where there was none before. The 'future' on the 'commodity' of 'number of dunks by an aging shaq at a halftime show'.

Courts have taken the dimmest possible view of this legal fabrication and I expect their losses in courts to continue without direct intervention by the Trump scions.

“Regulated by the CFTC” is a bit of an oxymoron when they don’t do any real enforcement

How is that at all clear? They are likely subject to CFTC regulations but there are a lot of questions about whether or not they are in compliance.