Comment Text:
The idea that “prediction” markets are not just glorified gambling is absurd and willfully ignorant. In no world could any functional adult see these services as anything other than gambling on every day choices.
Barring that obvious fact, even as a casino companies such as Kalshi and Polymarket are less regulated and far more predatory. Let us not pretend that BETTING on these numerous real world outcomes won’t have an effect on those very outcomes. The top 0.4 percent of participants on Kalshi enjoy 70% of profits, hinting that a small contingent of political and economic insiders are enjoying the bounty of their insider BETTING.
Beyond that it should be advertised that the deciding factor on many of these BETS is made by a collection of individuals who own UMA crypto. This means that any wealthy individuals can purchase more of these tokens and vote in their own favor on issues such as wether or not Zelensky would wear a suit.
This administration has been blatantly asleep at the wheel, if not actively in bed with these companies (look up Donald Trump Jr’s involvement with these companies). To continue down this path would be an insult to common sense and predatory upon those who may be desperate for this months rent.
