Utah lawmakers form united front in push to ban prediction markets
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Re: Utah lawmakers form united front in push to ban prediction markets
#2Neither conservative nor Mormon, but online gambling is an addictive scourge that ruins lives, and I'd love to see it banned broadly. And go ahead and ban paid loot boxes as well.
I don't love casinos or lotteries, but at least there's the friction of having to travel to a physical location to feed your addiction.
And then there's the whole "insider trading" and "gambling on war" angles that come into play with prediction markets.
Re: Utah lawmakers form united front in push to ban prediction markets
#3As I get older I'm starting to realize, the Christians were right about everything.
Re: Utah lawmakers form united front in push to ban prediction markets
#4can we stop calling them "prediction markets" and please call them what they actually are: gambling
Re: Utah lawmakers form united front in push to ban prediction markets
#5Coming soon:
* researchers found that prediction markets are actually good for your wellbeing
* lobby group is lobbying to fight against Utah lawmakers who are working against the wellbeing of people in Utah
Re: Utah lawmakers form united front in push to ban prediction markets
#6Neither conservative nor Mormon, but online gambling is an addictive scourge that ruins lives, and I'd love to see it banned broadly. And go ahead and ban paid loot boxes as well. I don't love casinos or lotteries, but at least there's the friction of having to travel to a physical location to feed your addiction. And then there's the whole "insider trading" and "gambling on war" angles that come into play with predi…
As much as I hate what gambling does on the society, I'm still not sure if banning this activity counts as freedom. I believe that grown consenting adults do have a free will and should have the ability to destroy their lives if they so choose.
OTOH allowing those kind of activities WILL end up with people opting in for the greater evil and thus some kind of limits should be enforced by governments.
I have no idea what would be the right approach, but outright banning prediction markets and casinos is definitely not the right one.
Re: Utah lawmakers form united front in push to ban prediction markets
#7can we stop calling them "prediction markets" and please call them what they actually are: gambling
Some prediction markets can be gambling, some not. Gambling is a broader category that does not include all of the prediction markets.
Re: Utah lawmakers form united front in push to ban prediction markets
#8Neither conservative nor Mormon, but online gambling is an addictive scourge that ruins lives, and I'd love to see it banned broadly. And go ahead and ban paid loot boxes as well. I don't love casinos or lotteries, but at least there's the friction of having to travel to a physical location to feed your addiction. And then there's the whole "insider trading" and "gambling on war" angles that come into play with predi…
One distinction I think really needs to be included in any gambling bans is whether it’s a game of chance or skill. Betting on yourself is quintessentially American. I’d argue betting on someone else’s game of skill (eg sports betting) is a game of chance.
Would be interesting to see how a new prohibition amendment on gambling on games of chance would work.
Re: Utah lawmakers form united front in push to ban prediction markets
#9can we stop calling them "prediction markets" and please call them what they actually are: gambling
Some industries chang names every 10 years to avoid regulation. Loan sharing became Buy Now Pay Later.
Re: Utah lawmakers form united front in push to ban prediction markets
#10can we stop calling them "prediction markets" and please call them what they actually are: gambling
Honest question which I think is at the heart of the question: What’s the difference between these and NYSE / Robinhood?