I see a lot of comments suggesting that medallion owners should be compensated. But the government is not morally obligated to compensate people whose investme

I see a lot of comments suggesting that medallion owners should be compensated. But the government is not morally obligated to compensate people whose investments lose money due to changes in regulation. And it would be prohibitively expensive to do so, because it is a one-sided affair. No one who made money investing in medallions when they went up in price was arguing "when we bought medallions, we thought that the number of available medallions would increase with demand, resulting in a stable price. Instead, prices shot up, so we feel we should pay back the government some money because their unexpected policy change benefitted us". The government might sometimes compensate people, but that would depend on many factors such as 1) To what extent the person was unable to avoid the risk, and to what extent they willingly bet on the price of the medallion, and 2) Whether the government did all in its power to keep policies predictable, given the unpredictable nature of technological change.