Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

reuters.com

Post reply on HN
Print view View original

351–360 of 559 posts

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

#351

Post by hackyhacky »

dzhiurgis wrote: post #347
hackyhacky wrote: post #276

Earlier quoted context omitted.

Which is more likely: CNN commits murder to increase viewership; or any one of billions of people commits murder to win a bet?

Funny how people take journalists as some sort of most moral form of human being. Meanwhile they are most likely to take bribes for editorializing, silencing, ads or completely making up stories. All while they are most likely to get earliest information on markets ergo most likely to rig markets themselves.

You've been so busy straw manning with the ridiculous and unstated claim that journalists are the "most moral form of human being" that you have conspicuously failed to answer my question.

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

#352

Post by throwaway27448 »

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.

There is no such thing as global laws though, and harm reduction is good enough for now

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

#354

Post by [deleted] »

ninkendo wrote: post #336
ericmcer wrote: post #315

Earlier quoted context omitted.

In the early 2000s major sports didn't even want to run "enjoy a vacation to Las Vegas" ads because of the loose connection to gambling. Now they encourage users to bet as part of the commentary.

You know how a clear sign of a “bad neighborhood” is when you see a large percentage of payday loan buildings, liquor stores, gun stores, etc? I see the percentage of advertising devoted to gambling to be a similar bellwether to the decline of my whole country. And it’s getting worse all the time. I can’t turn on the tv, look at billboards on the freeway, watch a sporting event, or even walk down a supermarket checko…

[deleted]

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

#356

Post by Paracompact »

embedding-shape wrote: post #301
Zigurd wrote: post #202

Earlier quoted context omitted.

This is a big part of the reason we have judges, and why we should not replace them with LLMs.

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.

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

#358

Post by swores »

bluGill wrote: post #309
nivertech wrote: post #237

Earlier quoted context omitted.

Even if you have an insurable interest, moral hazard may arise - acting recklessly or other abuse, while knowing you are insured/covered. Somewhat similar to friendly fraud in retail/ecommerce.

Insurance normally has fine print about those things. Life insurance doesn't pay out for suicide. Fire insurance doesn't pay out if you intentionally burn your house down (the fire department also will investigate because even though it is their job they don't like risking their life fighting fires) You can get insurance without the above provisions, but it will cost a lot more. Once in a while someone manages to col…

> Life insurance doesn't pay out for suicide.

This may vary by country, it isn't a subject I'm particularly familiar with, but at least in the UK that isn't true - many, I think most, life insurance policies here do pay out for suicide. There's just a period of years between the start of the policy and when suicide starts to be covered, to prevent people who are planning on killing themselves from being able to take out insurance just before doing so.

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

#359

Post by itsnowandnever »

epolanski wrote: post #254
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.

These derivatives openly violate the Frank Dodds act, but the head of the FTC has said they won't act.

in what way do they violate Dodd-Frank?
Post reply on HN