Comment Text:
Predictive markets are betting on free will, and then manipulating people's free will in order to generate the most favorable outcomes for the 0.04% of top earners who own 70% of the money circulating through their sites.
All you will do by allowing its continuation is create a casino world where half the table did not even consent to this gambling environment in the first place. Do you think they will enjoy being there? Do you think they're going to react in a reasonable way? Every time?
All predictive markets exacerbate the same desperation and money-grubbing that inevitably leads to crime and exploitation. It forces everyone in existence to be complicit or responsive to (frankly skewed) betting odds, whether they consent or not. For a party running on a "law and order", this seems like the opposite of their MO.
But, considering the amount of insider trading that goes on with a lot of these bets, that hypocrisy is easily explained.
