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These - especially Polymarket - should be illegal globally, as they incentivize people with power to manipulate the real world in horribly destructive ways to win a bet. I would not be surprised if people are murdered at some point to reap the payout of some related bet.
Earlier quoted context omitted.
> as they incentivize people with power to manipulate the real world I would argue that the ratio between "power" and "money to be won" is too big (at least right now) for this to materially matter. No fortune 500 CEO is going to postpone a product launch so they can win $5,000 on polymarket. But some random guy will get his hair dryer to win a socially meaningless weather bet. It's not discussed often, but the liqui…
> No fortune 500 CEO is going to postpone a product launch so they can win $5,000 on polymarket They would win a lot more than a trivial amount by taking adverse positions, no? Seems like you're making up your own hypothetical
When I see people making money on Iran attacks, and murder of heads of state - it shows clearly something is deeply wrong with Polymarket. Its a level worse than Vegas or Indian casinos. A literal ticket to hell. I'm all for banning these evil sites.
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When I see people making money on Iran attacks, and murder of heads of state - it shows clearly something is deeply wrong with Polymarket. Its a level worse than Vegas or Indian casinos. A literal ticket to hell. I'm all for banning these evil sites.
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Aside from the government, who is it that you prefer to do judgment and enforcement?
These - especially Polymarket - should be illegal globally, as they incentivize people with power to manipulate the real world in horribly destructive ways to win a bet. I would not be surprised if people are murdered at some point to reap the payout of some related bet.
> should be illegal globally Let's not pretend that Spain of all places is caring about horribly destructive psuedo-gambling. Banning "unregulated gambling" is just pressure to make sure that the Spanish gambling racket stays intact for the bookies already at the top.
Is this intended to imply that Spain has particularly high levels of sports betting, or issues with gambling? All the stats I can see suggest the opposite, and there's already plenty of tight restrictions on local gambling businesses (sports sponsorship ban, welcome bonus ban, almost no public advertising, etc). At a quick google, it looks like the 'Spanish gambling racket' for sports is tiny, gambling problem stats far lower than UK/France/Italy, and most gambling that does happen is the lotteries etc instead, which has its sins, but is a very different beast.
Is there something specific you're getting at?
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You need a license to operate in Spain. The license is fairly available (EU regulations enforce this). So, Polymarket is able to obtain a license if they wish to operate in Spain, if they follow the fair rules to obtain a license. Don't want to obtain a license? Don't want to follow the rules in Spain? No problem, but no business in Spain. Websites blocking works like that, too. Which makes sense: local law > remote…
Fry's closed in 2021.
Earlier quoted context omitted.
A thought experiment: how would you feel about betting on a market that is an the outcome of a medical procedure? On a negative outcome? On a market for a negative outcome of your own procedure?
Is it bad to take out a life insurance policy right before you have a medical procedure?
If anyone, including your surgeon, can take that life insurance policy based on your life, things can go bad pretty quickly (hint: what happens if a profit-maximizing surgeon would earn a lot more money from your policy than from his regular job?).
Polymarket is a casino. A roulette wheel is not a "market". You can't beat the house.
These - especially Polymarket - should be illegal globally, as they incentivize people with power to manipulate the real world in horribly destructive ways to win a bet. I would not be surprised if people are murdered at some point to reap the payout of some related bet.
These - especially Polymarket - should be illegal globally, as they incentivize people with power to manipulate the real world in horribly destructive ways to win a bet. I would not be surprised if people are murdered at some point to reap the payout of some related bet.
Insider trading is already illegal. What needs to be regulated is not markets, it is politicians. Once that is done, markets can peacefully continue the way they are.
Do you think regulation of all possible categories of people who could behave adversely to influence prediction markets would be preferable to just regulating the market itself?