[auntienomen]

The problem with prediction markets is fundamentally that they're unregulated.

Modern equities and futures markets are highly evolved and rather carefully regulated systems. We've spent centuries learning what the failure modes are and how to guard against them. It's never perfect, it's never going to be perfect -- it's fundamentally a voting system -- but in general, we get liquidity and price discovery at a relatively low cost, while avoiding fraudulent and evil behavior like wash trading and criminal profit laundering.

These new "prediction markets" have been put in place without any of those hard-earned protections. And surprise, they're rife with dirty trick and dirty money.

[nodesocket]

Agree 100% that prediction markets are the wild-wild-west with no insider trading protections, pump and dump, and no oversight. It’s perverting the wisdom of the crowd and efficient market thesis.

[watwut]

>It’s perverting the wisdom of the crowd and efficient market thesis.

I mean, looking at futures and stocks now, I dont believe in those anymore anyway.

[nodesocket]

typical HN comment when it comes to finance and the stock market. Over and over again the wisdom of the HN crowd is wrong in regards to stocks. Intel at its bottom (they are done, and doomed, listening to main stream media) perfect time to buy and load up. This has occurred over and over again in my 15 years being on HN, almost always they call a bottom.

[watwut]

Have you seen what they do every time half sleeping Trump farts another truth social post?