The “prediction market” is different because it’s for the already wealthy to make more money based on insider information. It’s not for you and me to put in $50 and walk away with $100 if we’re lucky, but for someone who already knows what’s about to happen to put in 500k, walk away with a million and then claim they made their wealth legitimately…
I think you completely skipped the most exciting part where it can also be used to launder money and make covert payments under the guise of winning bets.
I mean, yeah but are we glossing over the fact rich people are gambling as though its a game when real people are being killed? Cause thats the story for me.
“Prediction market”. Let’s just call it what it is:
Gambling.
What a stupid waste of time and money, encouraging addiction and ruin in people.
The “prediction market” is different because it’s for the already wealthy to make more money based on insider information. It’s not for you and me to put in $50 and walk away with $100 if we’re lucky, but for someone who already knows what’s about to happen to put in 500k, walk away with a million and then claim they made their wealth legitimately…
I think you completely skipped the most exciting part where it can also be used to launder money and make covert payments under the guise of winning bets.
And it’s cheaper than buying and selling “art” for the same purpose.
Oh no, that part was implied. Heavily.
No let’s really called it what it is:
Fraud and insider trading.
If you know the outcome, is it gambling?
I mean, yeah but are we glossing over the fact rich people are gambling as though its a game when real people are being killed? Cause thats the story for me.