Earlier quoted context omitted.
Well, it would be if everyone betting wouldn't have an influence on the outcome. That's "wisdom of the crowds". But what if the people putting money on the Strait being closed are the same that close them? Surely, that's no longer the wisdom of the crowds at play. Just perverse incentives.
I agree. Maybe an un-expected outcome. Who could have foreseen that a government/person would actually blatantly start a war, and manipulate bombing raids in order to manipulate a market, without being charged with a crime himself. In sports betting, it seems obvious if a player throws a game. In a war? Surely nobody would do this, right? Who could imagine it.
On the other hand, since you can bet on individual pitches, you no longer have to throw the game, just the right pitch at the right time. A couple of players were caught, but who knows how widespread this really is...
https://www.espn.com/mlb/story/_/id/46917665/mlb-betting-gua...
https://www.justice.gov/usao-edny/pr/two-current-major-leagu...
The focus on making money above all else, as a cultural dynamic, is degrading the human experience. It increasingly seeps into more aspects of our lives and is part of the broader Trustpocalypse.