Comment Text:
Prediction markets are unethical and subject to extreme manipulation from wealthy market makers. At minimum, additional regulation needs to exist to stop insider trading and standardize prediction outcomes so manipulation is less rampant. Additional consumer protections need to exist to stop underage people from making predictions and to stop individuals from taking actions to manipulate the outcome of market bets. Without additional regulation, this sort of trading will further impoverish the uneducated, the addicted, and the young while enriching those with enough existing wealth to profit from their losses. In an ideal world, market makers for prediction markets would be heavily taxed on their profits and those profits would be used to assist people with problem gambling in the prediction market sphere.
