Comment Text:
The first time I ever heard about the concept of prediction markets my initial reaction was "Thats just gambling? Why is this legal? You can't just do something that is illegal and call it something else and get away with it!"
And that was just from one google search. After doing more research and learning more about what Prediction markets are, I am astounded that we are still letting these things go completely unregulated.
Gambling is a vice. I dont think it should be completely illegal, but at the same time it needs to have a hand on it to make sure people dont completely ruin themselves buying into it. The problem with Prediction Markets is that its Gambling that has no regulations, it can be accessed by pretty much anyone with a phone and has no age locks, and the things that are gambled on are things that are very much susceptible to insider trader on a massive scale.
Lets do something about this and prevent our country from turning into Biff's Pleasure Palace.
