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> "This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election," a Polymarket spokesperson tells Axios. When I saw that statement, from a company spokesperson, it was striking. Is it now respectable and advisable for a corporation to make official statements like this?
> "This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election," a Polymarket spokesperson tells Axios. When I saw that statement, from a company spokesperson, it was striking. Is it now respectable and advisable for a corporation to make official statements like this?
I don't even understand what the conspiracy theory is here. Why would that be something the Biden administration would seek retribution for? And even it were, how would they possibly achieve it before the new administration takes office?
Earlier quoted context omitted.
But it is not derogatory or euphemistic, it is descriptive. Polymarket is gambling by any definition. Gambling is known and proven to have great harms and risks to society. (And I got the term "gambling exchange" from the UK where Betfair Exhange basically does what Polymarket do since 2000, without the Crypto glamour.)
are futures markets gambling in your eyes because speculators can participate?
"Binary options are gambling products dressed up as financial instruments. By confirming our ban today we are ensuring that investors don’t lose money from an inherently flawed product."
https://www.fca.org.uk/news/statements/fca-confirms-permanen....
Sound familiar?
They also highly regulate CFDs and other financial instruments that are marketed to retail.
It’s sad that something based on the Wisdom of Crowds by James Surowiecki is being politicized as gambling. It’s crucial that we have prediction markets so that we can better understand the risks of things happening in our world.
2. A ton of options trading is gambling, and binary options on events particularly so. Doesn't mean it should be illegal, of course, but I think that's just a facially obvious truth that we should all be honest with one another about.
> "This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election," a Polymarket spokesperson tells Axios. When I saw that statement, from a company spokesperson, it was striking. Is it now respectable and advisable for a corporation to make official statements like this?
Corporations have been making these kinds of statements for almost the past decade.
> "This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election," a Polymarket spokesperson tells Axios. When I saw that statement, from a company spokesperson, it was striking. Is it now respectable and advisable for a corporation to make official statements like this?
Respectable is subjective. Advisable? If they're probably guilty then appealing to the biases of the incoming administration is probably a good idea. On the other hand, if they're innocent and their accusation of bias is accurate, then saying as much is probably a good idea too.