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> Prediction markets are a wonderful idea Yeah, it's just like being able to take an insurance policy on other people's lives. It's a wonderful idea for all of
by pyrale 13d ago
> Prediction markets are a wonderful idea
Yeah, it's just like being able to take an insurance policy on other people's lives. It's a wonderful idea for all of 15 minutes until people start getting murdered.
> bare minimum of regulation
No amount of regulation will solve the issue when what you can take insurance on is not regulated.
Prediction markets are to insurance the same as crypto is to banking: a speedrun of all the frauds that happened in the past until the perpetrators are sent to jail or regulated so heavily that they are virtually identical to what they were supposed to disrupt.
- vovavili 13d agoWhat an enormously tendentious and underinformed take.
- FireBeyond 12d agoWe literally have political appointees betting on the contents of speeches they're about to make, military members betting on the likelihood of classified missions they're about to undertake, people vandalizing/manipulating weather stations. I don't think it's quite that tendentious. You can say "well, but that's not the majority of the marketplace" and you're right. But it's not an inconsequential one, either.