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That's one view of this - I'd say it's pretty cynical though... Reminds me of how people reacted to insurance when it was first being introduced to the broader
by tmansour 4y ago
That's one view of this - I'd say it's pretty cynical though... Reminds me of how people reacted to insurance when it was first being introduced to the broader population "gambling on human lives/death! terrible!!".
While it's true to some extent, insurance is indeed crucial: one of the counter-parties is meaningfully reducing the risk of catastrophe, or extremely detrimental outcome at the very least.
This can be extended to all sorts of events, including Covid, the economy, politics (Brexit had devastating consequences), hurricanes, etc.
- barbazoo 4y agoI'm not quite getting it yet. "Biden approval rating" https://kalshi.com/events/538APPROVE-22NOV23/markets/538APPROVE-22NOV23-B42.1 https://kalshi.com/events/538APPROVE-22NOV23/markets/538APPR... How is that comparable to an insurance and not just simple betting?
- einpoklum 4y agoSo, what do you think about providing insurance to convenience store robbers against being caught by the cops? This will meaningfully reduce the risk of an extremely detrimental outcome for them.