Good. Now take the next step and ban them outright.
Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
191–200 of 559 posts
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#192Earlier quoted context omitted.
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…
Regulation is good because somebody might buy LSD. Nice.
Yeah, LSD, or Janet Jackson's nipples, or something else which is highly illegal in USA, such as opiates. Or copyright infringement. Or whatever else is on the darknet. Called hypothetic examples.
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#193Earlier quoted context omitted.
The CEO of Coinbase finished an earnings call by reading all the buzzwords you could bet on to be mention during the call. So a CEO can manipulate these things and who knows if it was just a marketing thing or if he shared his plans.
Downvotes on HN is always fascinating. Source: https://www.msn.com/en-us/money/markets/coinbase-ceo-s-bizar...
"I don't want to consider possibly living in a world in which this might be true" is definitely a specific genre of downvote.
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#194Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#195These - 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.
> illegal globally I would replace them with https://manifold.markets/ or maybe heavily regulate them. they do have practical utility in forecasting
Manifold tried real money markets for a while and quickly bailed out (I don't know any details on why).
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#196Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#197These - 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.
Maybe we should ban the stock market too. In 2017 someone tried to bomb the bus of the BVB soccer club, after he bought puts options on the BVB stock. https://en.wikipedia.org/wiki/Borussia_Dortmund_team_bus_bom...
That's literally the plot of the first act of Casino Royale. I'm just now realizing the irony of the title.
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#198please 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?
Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#199Re: Spain blocks prediction markets Polymarket, Kalshi over lack of gambling licence
#200Earlier quoted context omitted.
Can you further explain the semantics you are talking about here? Are people not trying to predict things? Thus it being a market for people making predictions?
polymarket is selling bets, not predictions and other people are buying them. they are not being sold by people. It's like calling the casino a probability market.
> they are not being sold by people.
I think you might be mistaken about how Polymarket works. They are indeed only a platform operator; all trades are directly between participants.