[MadnessASAP]

Yes, but the examples where it's good has a name "insurance". It exists, it's generally well regulated, and is not easily exploited.

The reason it works better is because in a prediction market, the person betting against you has no resources or ability to go after you for fraudulent behavior. Whereas an insurance company has both.

[wallst07]

Nobody would insure this, and if they did, that policy would take months to be written, wouldn't cover the single probability of 1 event, etc...

So you are renaming something that doesn't and won't ever exist.

[MadnessASAP]

And you're trying to rename unregulated gambling as something that is good for society.

Exploiting people with gambling addiction is not a reasonable replacement for insurance.