mmcclure1d ago

We haven't seen the worst of what gambling and prediction markets will do

https://www.derekthompson.org/p/we-havent-seen-the-worst-of-what

We Haven’t Seen the Worst of What Gambling and Prediction Markets Will Do to America

I don’t think people have thought hard enough about how bad this could get.

Derek Thompson
Show threadhydroflame71d ago
'Predictions' market is the silliest loophole for gambling. Honestly, more surprised Fanduel, DraftKings and the like who have spent millions on lobbying and buying licenses, are not fighting tooth and nail on this.
Show threadFerret7446
Actually, prediction markets are closer to stock markets (insofar as you consider stock trading to be gambling). Insider trading is the bigger issue
Mar 26 at 8:46pmWeb
Show threadpc861d ago

I've heard people say this but it really only makes sense if you don't think about it for more than 10 or 20 seconds.

Prediction markets by definition always resolve to one side being completely wiped out and losing everything. Stocks going to zero happens pretty seldomly, in prediction markets it's guaranteed to happen every single time.

Show threadslibhb1d ago

That's only true if you leave your money in...which you don't have to do.

You can play prediction markets by betting on a swing. I.e. I made a few hundred dollars betting on Harris in 2024 when Trump was at ~65% odds and then selling before the election (when it was closer to 50%).