[crazygringo]

Because there are many things where insurance doesn't exist.

[amelius]

Ok let's work on that then. But meanwhile, close down unregulated websites like polymarket, where there is no verification of actual damage.

[crazygringo]

You can't just "work on that".

Insurance works on repeatable, predictable risks based on models.

You can't get insurance against a military attack. But you can hedge using a prediction market. It's essentially the version of insurance for one-off events, that relies on wagers since you can't use models.

[maest]

There is a market for custom and rare risk insurance - it's called "surplus lines"