Not a new phenomenon! It happened during the War on Iraq. https://www.nytimes.com/2003/03/02/weekinreview/you-can-bet-...

People will bet on absolutely anything; gambling is as old as time itself.

> Wagering was generally legal under British common law, so long as it did not to lead to immortality or impolity.13 Bets about the outcome of events in war, over the death of political leaders, over court cases, or between voters over election results were illegal on these grounds.14 In the Victorian and Edwardian periods, the British government increasingly attempted to limit gambling, especially among the working classes. The Gaming Act of 1845 made gambling contracts and debts unenforceable in court (but otherwise liberalized what amounts could be wagered); the Betting Houses Act of 1853 outlawed the operation of betting establishments other than private clubs; the Betting Houses Act of 1874 cracked down of the advertisement of wagering; and the Street Betting Act of 1906 made acceptance of wagers in streets and public places illegal.15 Despite the legal uncertainty in the late 19th and early 20th century, the Fleet Street press reported on election wagering at the London Stock Exchange and at Lloyd’s in markets for Parliamentary “majorities.” [^0]

[^0] Rhode, Paul W. “The Long History of Political Betting Markets.” KU School of Business, 2012 March. https://users.wfu.edu/strumpks/papers/Int_Election_Betting_F...

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elicash an hour ago | parent | next [-]

Your comment is a great addition to the conversation. I do just want to add the scale point, though. That source is less than a million was bet, and now there are hundreds of millions bet on the ceasefire, and millions more on other Iran bets, and then even more bet on Russia/Ukraine.

So I think it's a bit overstated to frame it as nothing is new. But your historical context is helpful.

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rayiner an hour ago | parent [-]

> That source is less than a million was bet, and now there are hundreds of millions bet on the ceasefire, and millions more on other Iran bets, and then even more bet on Russia/Ukraine.

I'd imagine those numbers are typical for any transaction facilitated by the Internet comparing 2003 to 2026.

	▲	elicash an hour ago \| parent [-]
		It seems to me there's an explosion in just the last few years that's noteworthy -- that gambling on war did not simply grow hand-in-hand with all web purchases. Am happy to be wrong, but that's my experience seeing this play out.

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bobwaycott 24 minutes ago | parent | prev | next [-]

I’m sure that immortality was meant to be immorality, but the idea of British law prohibiting some Faustian bargain struck with eternal life on the line if the wager works in your favor gave me a good chuckle.

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miltonlost an hour ago | parent | prev [-]

Still isn't something we should allow legally at scale on a public website. IS != OUGHT

Murder is also old as time itself! Guess we just gotta let it happen!