Comment Text:
Regardless of whether or not "prediction markets" may be considered, legally speaking, "gambling", it is undeniable that these markets foster a culture which values monetary gain over empathy for the wellness of our fellow man. With such large quantities of money on the line, in a world wracked by poverty, natural disaster, crime, police brutality, rising fascistic ideology, homelessness, and political unrest, it can be reasonably deduced that those in financial strife would be more than willing to put money down— even when it comes to subjects pertaining to the wellness of others— for a chance to escape their own personal hell. It is inevitably a self-fulfilling and self-sustained cycle. This isn't to speak of how easily influenced an outcome can be when a single especiallu wealthy or resourceful individual puts in the extra time and money to produce a particular outcome.
As such, I find these prediction markets to be not merely significantly under regulated and terribly harmful to those with gambling addictions, but grossly inhumane and destructive to society at large. It is my hope that gambling stays where it belongs: in the casino, amongst games with strict rules and far less societal and cultural influence.
