4 ms·
500 years ago, betting on the Pope was punishable by excommunication. Today, crypto-powered prediction markets are placing odds on the next conclave. Have we co
by Starlord2048 2y ago
500 years ago, betting on the Pope was punishable by excommunication. Today, crypto-powered prediction markets are placing odds on the next conclave. Have we come full circle, or has technology fundamentally changed the ethics of speculation? Should there be limits to what we can bet on, or is ”information price discovery“ an absolute good？
Are decentralized prediction markets a net positive for transparency, or are they just incentivizing bad behavior?
- deleted 2y ago[deleted]
- cxie 2y agoI've been thinking about prediction market designs that could preserve information discovery benefits while minimizing harm - maybe through delayed settlement periods, anti-manipulation mechanisms, or separating financial stakes from informational ones. As web3 and DeFi make these markets more accessible and resistant to regulation, should we be building more guardrails into the protocols themselves? Or is this an unsolvable tension in market design?
- erelong 2y agoDidn't read this article but one of them I think said the 1917 Code of Canon Law removed the excommunication for this kind of gambling. Gambling itself within reason I think was not condemned ("Gambling" in Catholic encyclopedia): https://www.newadvent.org/cathen/06375b.htm https://www.newadvent.org/cathen/06375b.htm