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White House staff told not to place bets on prediction markets

bbc.co.uk

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Re: White House staff told not to place bets on prediction markets

#31

Post by tyjen »

keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

There's no shortage of people willing to make extremely poor financial decisions on games of chance, it's why gambling was heavily regulated. Visit a casino and witness addiction in-person, it's a sad sight.

Re: White House staff told not to place bets on prediction markets

#32

Post by vanviegen »

duped wrote: post #30
keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

People go to casinos despite knowing the house has the edge in games. Gambling is addictive.

Yes, but you also know exactly how large that edge is. And it's relatively small.

Re: White House staff told not to place bets on prediction markets

#33

Post by finghin »

keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

Prediction markets are ridiculously diverse so it’s quite a stretch to say that imo.

Re: White House staff told not to place bets on prediction markets

#36

Post by ceejayoz »

vanviegen wrote: post #32
duped wrote: post #30

Earlier quoted context omitted.

People go to casinos despite knowing the house has the edge in games. Gambling is addictive.

Yes, but you also know exactly how large that edge is. And it's relatively small.

I suspect most casual gamblers don't know that.

Re: White House staff told not to place bets on prediction markets

#39

Post by mothballed »

keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

Hedging is one rational reason.
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