211–220 of 559 posts
[flagged]
I agree with this. Pretty shocking to see all the replies you got though. Over the last 10-20 years there seems to be a drastic increase of people who think government control is a good idea.
Earlier quoted context omitted.
So I take it you have a problem with laws against murder, fraud, theft, etc. Aside from the government, who is it that you prefer to do judgment and enforcement?
[flagged]
Didn't we learn our lesson in SimCity? Crime went up when you added a casino.. but governments gained a little tax revenue... We seem to get the crime (see insider trading) but no tax revenue... Maybe I'm just showing my age...
Kalshi and Polymarket require you to provide your SSN.
please stop calling them prediction markets. It's not even accurate, you do not buy a prediciton
You don't literally buy the future on a futures exchange either. What name would you suggest instead?
Earlier quoted context omitted.
Most of Spain did not even know polymarket existed until a couple of days ago.
Not sure how you want me to respond to that. Are you getting that from a feel of yours or some statistical analysis of familiarity with polymarket in Spain? I don't think it matters much anyway, I bet most human beings don't know what polymarket is. But still, you think it warrants a conspiracy? To what end? None of this makes much sense to me.
Google Trends seems to agree too: https://trends.google.com/explore?q=polymarket&date=today%20...
Earlier quoted context omitted.
Yeah. You aren't allowed to set up a life insurance policy on someone else's life, or a fire insurance policy on someone else's home. For obvious reasons. But buying an event contract that pays if someone dies or someone's house burns down is fine?
Well, you are privately allowed to bet on whatever you like with another individual. That is indeed legally fine, though potentially distasteful. Polymarket is facilitating bets between people, not bets with the house. Gambling and insurance are both bets with 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.
Do you really think that there are no people, who have bet on the price of something in one direction or the other, who enact real world consequences on people or other entities in order to ensure their bet? This is par for the course.
Earlier quoted context omitted.
The service is the house, and they take fees on bets, so they are the only ones guaranteed to win.
By that logic market makers in the stock market are basically like a casino too. No one is of course guaranteed to win in anything but at least the stock market doesn't ban you for making too much money like a casino does.
If you somehow caused some exchange to consistently lose money, I'm sure they'd cut you off.
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.
Yeah. You aren't allowed to set up a life insurance policy on someone else's life, or a fire insurance policy on someone else's home. For obvious reasons. But buying an event contract that pays if someone dies or someone's house burns down is fine?
Earlier quoted context omitted.
sure, a bet market which is gambling, not a 'prediction market'. those are not predictions
You can gamble on the stock exchange, just like you can "non-gamblingly" hedge certain risks by buying/selling certain financial products such as event futures. (Many insurance policies are structurally just that and are used for very boring non-gambling purposes!) I don't think you'll find a simple/useful answer by slicing the problem on that axis.
You don't get anything outside of winnings or losses from your bets on a "prediction market".