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

derekthompson.org

11–20 of 741 posts

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

#11
> Two-thirds of Americans now believe that professional athletes sometimes change their performance to influence gambling outcomes.

I'm not sure this is a bad thing. It's just bringing to public visibility exactly what happens across the stock market. Public companies do this all the time -- engineer their performance end earnings to influence shareholder gambler expectations on earnings day.

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

#13
Assassinations markets are what's next.

eg. someone will bet $1M that Elon Musk will be assassinated in 2026.

But these don't themselves even have to be legal. Second order wagers will be placed on SpaceX and Tesla stock prices, bets that "a hundred billionaire will die in 2026", etc.

A bet that Putin will be assassinated could be encoded in, "there will be regime change in Russia."

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

#16
"where key decision makers in government have the tantalizing options to make hundreds of thousands of dollars by synchronizing military engagements with their gambling position"

To wit: where key decision makers in government can get paid to reveal war secretes to our enemies.

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

#17
Just game-theoretically, suppose you bet $100 on some disaster.

That disaster causes $10,000,000 of harm, but only causes you $90 of harm individually.

You've gained $10, but your $10 gain is a millionth of the harm caused.

Generally-speaking, there's an enormous asymmetry between the cost to create/build and the cost to destroy. So now we have a mechanism by which individuals have a financial incentive to cause harm...

Don't these markets create a mechanism for society to race to self-destruction?

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

#20
post #8

Earlier quoted context omitted.

In the prediction markets, there's a fine line between predicting and manifesting.

I mean, I'm talking about things like hurricanes and earthquakes and forest fires, not running death pools.

> forest fires

Fire bug

> earthquakes

Dynamite the fault

> hurricanes

Crazy, but, hear me out: mirrors in space warming the Atlantic, mirrors in Africa warming the atmosphere ("solar power"), Trump wanting to nuke a hurricane, etc.

Pandemic? Go harvest bats and put them in a cage with chickens. You don't even need a molecular bio lab.

Stock market crash? Bombs. Terrorist attacks.

Energy prices? Derail a train carrying fuel cars. Bonus points if it's in a major metro and has a blast radius. Or, I dunno, start a war with Iran.

This could get really bad.

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