"They are platforms that allow you to wager on the outcome of almost any future event. The winner of the Denver-Buffalo game? Yes. The price that a rare Pokémon card owned by Logan Paul will fetch at auction? Absolutely. Whether a 10-kiloton meteor will strike Earth before 2030? Break out your lucky rabbit’s foot, friend; it’s gambling time."
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I don't see what's dystopian about people having more options. No one's required to participate.
The underlying arguments falls into the question of whether people should be allowed to gamble and risk freely or not. It's the old issue of whether full freedom dictates hands off or whether there should be regulation to prevent abuse, addiction and so on. Personally, I think adults should be responsible for themselves, but there's been a long history of reigning in gambling.
Coming from The Ringer, which is heavily supported by traditional sportsbooks, I think this is a reflection of fear of a superior business model.
There's a Baptists and Bootleggers dynamic at work here.
https://en.wikipedia.org/wiki/Policy_Analysis_Market
"PAM was shut down in August 2003 after multiple US senators condemned it as an assassination and terrorism market..."
Hahaha it’s just guessing what will happen. No one knows the future so why not have a little fun and guess
Logan Paul should definitely hedge his Pokemon card auction on a prediction market if there is enough liquidity.