[scoofy]

>These prediction markets incentivize the absolute worst in humanity.

Just call it gambling. They aren't "prediction markets," they're just gambling. Gambling incentivizes the absolute worst in humanity.

[fritzo]

We're not talking about gambling-as-addiction. We're talking about gambling as big players paying participants to throw fights, paying referees to call shots, and the players are the real world and the referees are journalists.

[scoofy]

I agree.

[fritzo]

Just checking :) Didn't want to confuse two totally different equally compelling reasons to ban prediction markets

[trashb]

> We're not talking about gambling-as-addiction.

What makes you think this is not "gambling-as-addiction"?

It seems to me that these players, big or small, either have too much skin in the game or are compulsive gambling. To me the threats only make sense in that context.

[arcticfox]

I used to be pro-betting legalization and now I see the light. It is a corrosive influence On everything it touches. I hope there's another opportunity to put the genie back in the bottle.

[cybernoodles]

I feel like we need a new word for this because it is far worse than gambling when you can effectively put a hit on someone.

[Invictus0]

That's fundamentally wrong

[scoofy]

>That's fundamentally wrong

If you have an argument, please share it. If you don't, please don't waste everyone's time.

[Invictus0]

if you can't tell the difference between a game of pure chance and predicting real world events then there is simply nothing to say

[scoofy]

https://en.wikipedia.org/wiki/Fooled_by_Randomness

[Dylan16807]

Predicting real events is significantly random which makes it like gambling, but the ability to influence events makes it unlike gambling.

Just calling it gambling emphasizes the former problem while dismissing the latter problem.

[fsckboy]

any game with a positive expected value is also not gambling, it's mining

[fc417fc802]

I can tell the difference (at least I think) but I have no idea what your point is.

[Invictus0]

prediction markets are not pure gambling just as investing in stocks is not gambling.

[fc417fc802]

I don't follow. What's the definition of "pure" gambling here? Do you consider for example poker to be pure? Sports betting?

Personally I consider any monetary wager where the individual isn't personally invested in corresponding productive events to constitute gambling. By that logic poker, horse races, prediction markets, futures, and even the vast majority of day trading all constitute forms of gambling.