Minnesota becomes first state to ban prediction markets
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Re: Minnesota becomes first state to ban prediction markets
#2Anyone taking bets on how that ban will last?
Re: Minnesota becomes first state to ban prediction markets
#3I wonder if it can really be enforced. It's clear that prediction markets are a scourge -- there seems to be no upside whatsoever.
Re: Minnesota becomes first state to ban prediction markets
#4I wonder if it can really be enforced. It's clear that prediction markets are a scourge -- there seems to be no upside whatsoever.
Thanks to crypto it can't be enforced and is here to stay, like all forms of online gambling.
Re: Minnesota becomes first state to ban prediction markets
#5I wonder if it can really be enforced. It's clear that prediction markets are a scourge -- there seems to be no upside whatsoever.
> I wonder if it can really be enforced.
At the very least maybe it would make the advertising (tv, college campuses, etc) of prediction markets illegal in Minnesota?
That alone seems like a good thing.
Re: Minnesota becomes first state to ban prediction markets
#6*Minnesota becomes first state to ban the use of prediction markets as a loophole for sports gambling.
Re: Minnesota becomes first state to ban prediction markets
#7as the article notes, prediction markets are regulated by the CFTC as a commodities futures contract, so I'm not sure how any state law survives a federal pre-emption challenge. On the other hand, it's a little unusual to see a federal agency suing to protect its turf. Would've expected a class action by a Minnesota user of the service to bring the challenge instead.
Re: Minnesota becomes first state to ban prediction markets
#8Doesn’t this violate commerce between states, effectively?
Re: Minnesota becomes first state to ban prediction markets
#9I wonder if it can really be enforced. It's clear that prediction markets are a scourge -- there seems to be no upside whatsoever.
I get a lot of value from prediction markets and query for them most days. Today for the Los Angeles Mayor's race and the Kentucky 4th district Representative race. In both cases I saw a big difference between the market and the vibe on my feeds. I believe that the market emits higher quality predictions.
Each market is a community with a financial incentive to think outside of the bubble.
Re: Minnesota becomes first state to ban prediction markets
#10If a prediction market uses AI will this violate the federal ban on states impeding AI?