[mechoblast]

Surely half millions on prediction markets is pennies compared to what is getting made on oil futures/stocks.

[Tangurena2]

It is easier for the SEC to investigate futures, stocks & options. Some of the prediction/gambling markets use crypto and do not participate in "Know Your Customer" regulations.

[skippyboxedhero]

It is far easier in crypto. It is much more difficult in futures...as the case of a recent repeat Presidential candidate showed.

That will change when people realise crypto isn't anonymous...but that day isn't today.

[bregma]

    Step 1: Gut the SEC
    Step 2: Buy $100,000,000 in oil futures 15 minutes before bombing starts
    Step 3: ???
    Step 4: PROFIT!!!

[derwiki]

They’re doing money transmission and they’re not doing KYC? Is that illegal or “really frowned upon”?

[enoint]

You’d think so, but these types of people are afraid of stocks or options and find prediction websites easier to use.

[rf15]

Honestly not that big a difference here. Both can be loosely interpreted as gambling, especially with the same rough upsides (money without production or consumption!) downsides (addiction, critical existence failure of all your savings) and the corruption and perverse incentives they invite.