Comment Text:
Good Morning,
I'm a Lunch Lady and can see that the participants in Prediction Markets are obviously betting against the house with these "Market Makers" that are funded through the markets themselves. How are "Market Makers" not seen as equiv. to "the House"? I'm not a hobby gambler, I've been to a casino maybe twice in my life to bet money, and I can see that "the House" is the same and the "Market Makers" are controlling the Prediction Markets, like duh.
ALSO these Prediction Market products are marketed directly to very young men, barely legal men, who are susceptible to falling into addictive patterns and bad habits around gambling and can destroy their financial futures with a few mouse clicks and errant key strokes.
ALSO there are no safeguards to prevent insider trading in these Prediction Markets. The founders of Kalshi and Polymarket have come out to say that they think this aspect of their products is a 'good thing' seemingly having no understanding of the law (or being willfully ignorant of it, which is truly a real CEO move). I know that the rich and powerful people in this country love insider trading and would do it all day and night if they knew they could get away with it. It also exposes the unrich and unpowerful to committing crimes that can destroy their lives as well. If you want to lock up frat boys and regular people for crimes that used to be only committed by people twice their age with 100x their portfolio then this a great way to fill up white collar jails with this country's LAX bros (and those who have failed to mature past their LAX bro status). The whole world isn't Andover Prep.
If you need help regulating Prediction Markets please contact me. Since this board is being run by just one dude and it looks like y'all are flailing and guessing. I was really good at research papers in college and I'm sure I can put together something to assist you. I'm available Monday and Tuesday 4pm-7pm, Saturday and Sunday Noon-3pm.
