Comment Text:
Prediction markets (and the explosion of gambling in general) is absolutely devastating to individuals and society as a whole. Gambling itself isn't inherently bad, but it certainly is when its unregulated and pushed into every aspect of daily life. Prediction markets are clearly gambling taken to an extreme conclusion and in addition to the damage they are and will cause, is this the sort of thing we want to even have in our lives?
Ban them outright, or at least heavily regulate them so that insider trading isn't openly encouraged and so they can't be used to harvest wealth from people who don't understand how much the odds are stacked against them. We shouldn't even be here talking about this. Please take a moment to reflect on just how negative the long term consequences will be across so many aspects of society and the economy.
