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

White House staff told not to place bets on prediction markets

bbc.co.uk

Post reply on HN
Print view View original

61–70 of 89 posts

Re: White House staff told not to place bets on prediction markets

#61

Post by lmkg »

keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

My personal conspiracy theory is that in some cases, the "loser" is in on the graft to. It's a way to launder bribes.

Re: White House staff told not to place bets on prediction markets

#65

Post by RankingMember »

josefritzishere wrote: post #38

It is trully pathetic that this needs to be said.

If there's one positive that can be made of this admin, it's the realization that all the things that we thought went without saying ("don't profit from the office", "don't insider trade", "don't casually leak confidential information to our enemies") need much stronger enforcement mechanisms.

Re: White House staff told not to place bets on prediction markets

#66

Post by WarmWash »

keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

You believe you are betting on the side of the insiders.

Everyone knows the Casino has the edge, but people still play heavily anyway.

Re: White House staff told not to place bets on prediction markets

#67

Post by diab0lic »

namenotrequired wrote: post #53
qsera wrote: post #48

I think the proper thing to do would be to forbid these markets to make bets on stuff that can be won by using only insider information.

Like the stock market?

I realize yours is the hip and edgy take but plenty of people have made a lot of money in the stock market without using material non public information.

Re: White House staff told not to place bets on prediction markets

#68

Post by baggachipz »

whywhywhywhy wrote: post #52
tdeck wrote: post #44

Earlier quoted context omitted.

Consider the kind of people who would staff this white house.

It's bipartisan, just look at Pelosi's portfolio.

Ah, there's the whataboutism. Where are her bets in the prediction markets?

Re: White House staff told not to place bets on prediction markets

#69

Post by [deleted] »

simonw wrote: post #45
keviniam wrote: post #18

I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money? I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.

The ads for prediction markets on TikTok are aggressive - like (paraphrasing) "this is your new source of passive income and you'd be crazy to miss it" aggressive.

[deleted]

Re: White House staff told not to place bets on prediction markets

#70

Post by maerF0x0 »

OutOfHere wrote: post #56
jeffwask wrote: post #35

Please don't do insider trading. Thank you for your attention to this matter.

For those who live in the red-pilled real world, just don't trade on something where controlling insiders (also with a potential conflict-of-interest) can beat you at the game. This is different from bets with non-controlling insiders with no conflict-of-interest.

Isn't that nearly everything public?
Post reply on HN