prediction markets need to be illegal in the USA, its total insanity.

You could argue that certain prediction markets are better than the alternative. Maybe not for this, but take sports betting.

People taking sides against each other means the losers and winners are individuals.

Meanwhile sports betting is growing but the winners are “the house”, the companies.

	▲	xboxnolifes 3 hours ago \| parent \| next [-]
		The problem with prediction markets is not who wins, its the incentives that lead to who wins.
	▲	IncreasePosts 3 hours ago \| parent \| prev [-]
		Parimutuel betting is a thing, especially in horse racing. There's no reason that it couldn't be played in place of fixed odds betting except that it seems that the consumers don't want it.