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They certainly could reduce friction in bribery, just make a public bet like "The court will decide in favor of XYZ Evil Corp v. United States", then buy "No" s
by streetfighter64 8mo ago
They certainly could reduce friction in bribery, just make a public bet like "The court will decide in favor of XYZ Evil Corp v. United States", then buy "No" shares for a million dollars, and hope the judge in the case picks up a bunch of "Yes" shares. Quick, simple, effective bribery via cryptocurrencies.
- yieldcrv 8mo agothey could, slightly suboptimal way of doing it but its there crypto anarchist papers described prediction markets to be used for something like this in the 90s, but there are several levels of infrastructure that didn't exist then if you are predicting such things are occurring then you could also buy the no shares, making it the most egalitarian social mobility opportunity out there. I think the focus on bribery and corruption is distracting because people are imagining exclusion, but its the opposite at this point. Imagine when the soviet union fell and only people that built relationships got dibs on all the assets and revenue streams to become "the oligarchs" almost overnight, but instead of only them, everyone paying attention could take part in it. That's what is happening now and the markets will continue existing autonomously
- streetfighter64 8mo agoI'm not putting my money in these markets for many reasons, ethical objections being one of them. Why'd I buy specifically "No" shares though? From my non-insider POV it's just a bet on the honesty of the judge, mixed with the actual facts of the case. What's the incentive of betting if you're not an insider? You're better off putting you money on a fair coin toss, instead of hoping you'll somehow beat an openly rigged market. How much have you yourself made in these sorts of markets?