[breppp]

The idea is not economic hedging but gambling and corruption

[nazcan]

Yes, but they are saying that if you allow economic hedging, you are also allowing gambling - just a bit more indirectly.

[breppp]

maybe, but that is a by product of a real function (hedging). The reason prediction markets deal with news is so they can attract gamblers. Also compare marketing efforts of prediction markets and SEC control of real markets