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Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

reuters.com

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Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#401

Post by HDBaseT »

embedding-shape wrote: post #303
ceasesurthinko wrote: post #259

Yet blocks the internet completely decimating all necessary services for a couple hours for La Liga futbol. Spain is a backwards country

> blocks the internet completely decimating all necessary services Not really how it works in practice here, some Cloudflare IPs are unavailable for a few hours, everything mostly keeps working as it always is.

It's only Cloudflare IPs, its only the most popular reverse proxy and CDN provider on the internet. Only a mere 20%+ of internet traffic traverses via Cloudflare.

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#403

Post by HDBaseT »

satvikpendem wrote: post #188
RIMR wrote: post #185

Earlier quoted context omitted.

I mean, yeah, pretty much.

I can actually consistently make money in the stock market, not so in a casino.

Meanwhile a lot of people don't make consistent money on the stock market.

If it was "that simple" everyone would be making money on the stock market, but its not.

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#404

Post by hackyhacky »

dzhiurgis wrote: post #380
everdrive wrote: post #41

I don't usually see advertisements, but I was in a position recently to see a real-life television stream, and I was quite surprised to see them run an advertisement for Kalshi. I was pretty surprised that something like this would be advertised to normal people. I'd half expect the next ad to be for a hitman, or for beating your wife, or something. Seems crazy that this is tolerated whatsoever.

How is it any worse than ads for beer or sugar water?

Until recently, gambling was illegal in most of the United States.

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#405

Post by shitlord »

throwawa1 wrote: post #31

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.

A lot of people made money off the Iran war, through regular old publicly traded stocks.

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#407

Post by daemin »

BeetleB wrote: post #317
antiframe wrote: post #279

Earlier quoted context omitted.

So is it also okay if his friends placed a bet and shared the profits with them?

Don't quibble on details. The point is that as long as he didn't profit from the bets, he is free to mess around that way. This isn't share price manipulation.

Him placing the bets or a co-conspirator placing the bets and sharing the profit is the same thing. He is effectively betting on himself saying those words which he then goes on to say.

I'm pretty sure this is the same as match or race fixing to get the payout from bets made.

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#408

Post by freejazz »

akersten wrote: post #63
solenoid0937 wrote: post #7

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.

> they incentivize people with power to manipulate the real world in horribly destructive ways to win a bet. How does the same line of argument not also suggest that stock markets be prohibited?

Have you ever looked at securities laws?

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#409

Post by daemin »

Paracompact wrote: post #356
embedding-shape wrote: post #301

Earlier quoted context omitted.

Also the reason laws aren't overly specific, so these judges can make those judgement calls in the cases. Following the spirit of the law rather than the letter of the law is something many judges care about as well.

Counterargument: Any "specific" wording of gambling would have condemned this activity. On average, vagueness in law generates more loopholes for corporate criminals to hide behind than it generates discretion for judges and juries to rule against them.

What is your stance on loot boxes in video games then? Is that akin to a poker/slot machine or is it more like a kinder surprise?

Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence

#410

Post by daemin »

dzhiurgis wrote: post #388
neop1x wrote: post #361

Earlier quoted context omitted.

You are betting against insiders, or rather giving money to insiders...

Ok, who are insiders for these bets: * What price will Bitcoin hit in May? * SpaceX IPO closing market cap above ___ ? * Highest temperature in Amsterdam on May 26? * Presidential Election Winner 2028

1) Anyone at a company trading in bitcoin.

2) SpaceX employee or board member.

3) Anyone with a blow drier that knows which weather monitoring station is used.

4) Campaign insider that can sabotage their candidate's chances of winning.

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