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The prediction market trend will "work itself out". It will become common knowledge that these platforms are exploited by insiders so people "trust" apparent f
by int32_64 7mo ago
The prediction market trend will "work itself out".
It will become common knowledge that these platforms are exploited by insiders so people "trust" apparent flagged insider bets, so people will try to piggyback insiders, then it will be revealed that a sophisticated party with infinitely deep pockets burns massive amounts of cash to manipulate odds and these piggybackers will be burned badly, so in the end classical gambling and sports betting will resume as preferred ways for gamblers to lose money because of their disgust with the manipulation.
- guidedlight 7mo agoI agree. The market is flawed because there isn’t a guaranteed entropy. Because of this, the prediction market will remain niche.
- CamperBob2 7mo agoEven in the presence of insiders, these markets may still function well as hedges.
- bee_rider 7mo agoPrediction markets do seem basically corrupting. So yeah, maybe the winning move for society is to just not regulate them at all so they just become obvious “cheaters only” leagues.
- nitwit005 7mo agoPeople give plenty of money to mobsters who are running illegal gambling operations (This used to be common in the US). Unsurprisingly, those mobsters cheat people, but they keep doing it.