Prediction markets will allow you to guess on absolutely anything, from what number of tweets Elon Musk will put up this week to the subsequent president of the US, with predictions typically exhibiting shockingly (or suspiciously) spot-on accuracy. Polymarket’s CEO Shayne Copland has even claimed that prediction markets are “probably the most correct factor now we have as mankind proper now.”
Nevertheless, these platforms blur the strains — when it comes to each perform and regulation — between playing and inventory buying and selling. As Bloomberg’s Joe Weisenthal stated on The Vergecast, “The entire strains between buying and selling, speculating, [and] playing are simply being fully torn aside.”
There are additionally moral issues surfacing round prediction markets, like whether or not it’s acceptable to have the ability to place a guess on nearly all the pieces, together with issues about insider buying and selling. For example, a newly-created Polymarket account remodeled $400,000 in January betting on the seize of Venezuelan chief Nicolás Maduro.
- Portugal orders Polymarket to close down.
- Blood for stonks
- Somebody made a ton of cash betting on Maduro’s seize
- Kalshi and Polymarket hold partnering with faux newsbreaker accounts on X.
- All the pieces is playing now
- Election night time at Kalshi HQ
- Right here’s the $2,000 totally AI-generated advert that aired throughout the NBA Finals
- Are prediction markets playing? Robinhood CEO Vlad Tenev is betting not
- Polymarket quietly raised extra money earlier than the FBI raided the CEO’s residence.
- The FBI reportedly seized the cellphone of Polymarket’s CEO.
- Why Robinhood’s CEO thinks prediction markets are right here to remain
- Presidential betting platform Kalshi hundreds up on debt.
- Robinhood admits it’s only a playing app
