Comment Text:
These prediction markets like kalshi and polymarket and the proposed new one by the president himself on truth social are so incredibly obviously gambling but even worse.
It needs to be banned or at least heavily regulated because it is incredibly addictive and dangerous for many vulnerable people.
Also, even aside from it clearly being gambling the fraud and obvious insider trading needs to be cracked down on. These companies and their market makers are manipulating odds and sometimes not even honoring winning bets. Also insiders have been betting and making g money on non public info that they have and/or that they have direct control over.
Finally, these gambling prediction markets incentivize people to alter the course of events in dangerous or terrible ways to win their bet and make money. For example betting on when the next forest fire is going to happen could very very easily encourage someone to put money on the event and then go and covertly start a forest fire.
This has to be one of the most openly dystopian things around and I cannot believe that it is legal when the dangers to society of gambling are so well known…and this is gambling but soo soo much worse.
Thank you
