4 ms·
prediction markets need to be illegal in the USA, its total insanity.
by fourseventy 7mo ago
prediction markets need to be illegal in the USA, its total insanity.
- mr_00ff00 7mo agoYou could argue that certain prediction markets are better than the alternative. Maybe not for this, but take sports betting. People taking sides against each other means the losers and winners are individuals. Meanwhile sports betting is growing but the winners are “the house”, the companies.
- xboxnolifes 7mo agoThe problem with prediction markets is not who wins, its the incentives that lead to who wins.
- mr_00ff00 7mo agoWell right, so like I said, in sports that’s a good thing
- xboxnolifes 7mo agoEven in sports it's not a good thing, but the consequences tend to be limited only to game outcomes. Nobody wants teams throwing matches because their players bet on the loss, but that's nothing compared to government actions being influenced by prediction-market bets.
- IncreasePosts 7mo agoParimutuel betting is a thing, especially in horse racing. There's no reason that it couldn't be played in place of fixed odds betting except that it seems that the consumers don't want it.