Note that if your gambling laws are too restrictive/expansive you lose the social benefit of prediction markets, which enable society to have a well calibrated

Note that if your gambling laws are too restrictive/expansive you lose the social benefit of prediction markets, which enable society to have a well calibrated understanding of the likelihood of various events. http://mason.gmu.edu/~rhanson/ideafutures.html http://mason.gmu.edu/~rhanson/ideafutures.html https://en.wikipedia.org/wiki/Prediction_market https://en.wikipedia.org/wiki/Prediction_market