[Retr0id]

It might've been the original purpose but in practice prediction markets have turned into a tool for gambling.

It also creates weird incentives. If I want to pay a politician to do something, bribing them would generally be illegal. But what if I instead bet lots of money that they won't do it?

[yieldcrv]

> a tool for gambling

they require liquidity from people that are not in the know for adequate price discovery and exit liquidity worthwhile for participation

[Retr0id]

You need liquidity but there is no requirement that it comes from gamblers

[yieldcrv]

Tell that to the gamblers? like be for real right now

[gzread]

If only people with accurate information bet, they wouldn't make any money so they'd stop betting.

[Retr0id]

Betting on imperfect information is not the same thing as gambling