Polymarket users are hoping to profit from the devastation in California, betting on how far the deadly blaze will spread
Posted by EmotionalTown4
Polymarket users are hoping to profit from the devastation in California, betting on how far the deadly blaze will spread
Posted by EmotionalTown4
7 Comments
I can see the value in (regulated) prediction markets for elections, but this is just digusting.
Polymarket is part of the dastardly attempt to spread gambling to every corner of our society and further the moral decline. I do not like it and think it should be banned, or at least require a gaming license from every state in which it operates and also pay pigouvian taxes due to its harmful effect on our society.
Some teenager is gonna commit arson for 5k
How can it be liberal to ban people from doing something of their own free will that ultimately causes no real harm other than being distasteful?
Couldn’t someone with expertise say a firefighter use their knowledge to arbitrage this bet? Further, couldn’t a bad actor take action to prolong the fire (say some lasers at rescue vehicles or ‘accidentally’ block a road) in order to win?
Remember *The Big Short*? That movie was also about real people who made money predicting the 2008 financial crisis. Because their prediction was correct, they ended up making a profit from an event that caused a lot of suffering to millions of people. Were they also “disgusting” “callous” “gamblers”? How is this any different?
This is fine? Let people make money how they choose