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by jkubicek 96 days ago
Knowing who is making the bets doesn’t prevent mildly corrupt officials from driving the outcome that’s going to win them some cash.

Knowing that high-level DOD official were betting on us invading Iran does us no good if the only reason we invaded Iran was so they could win their long-odds bet. Sure, we can try and shame them, but now they're rich and we're fighting another middle-east war.
3 comments
chii 96 days ago
What is the current method that exists which stops CEO/executives from short selling their own company's stock, then driving that company's value down (which is easy to accomplish)?

Why can't that same method be used to prevent or indict gov't insiders who tries to do the same?

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toss1 95 days ago
That same method is the SEC (Securities Exchange Commission) and is it widely regarded as simultaneously ineffective and heavy-handedly overreaching.

It is an inherently hard problem to identify insider trading when trading securities, or in this case, bets/contracts, doesn't have participant identification and transparency problems

The same solution would be best for both — everyone can trade freely with the sole caveat that all ultimately beneficial owners are fully identified and the trades are transparently published in real-time.

Braying about "free market" when in the actual market players can hide their identities and covertly manipulate it, while having an underfunded agency supposedly tracking them down after the fact, is just a farce.

A solution structured so it naturally and dynamically self-corrects is far better than an enforcement bolted-on after the fact. And yes, there would still be enforcement of requiring transparency to enforce proper identification.

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jmye 96 days ago
> Knowing that high-level DOD official were betting on us invading Iran does us no good if the only reason we invaded Iran was so they could win their long-odds bet.

Of course it does, if we’re willing to do ever-so-slightly more than jerk off on TikTok about it.

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malfist 96 days ago
I guess we shouldn't do this then. If it doesn't completely solve to problem.
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