| ▲ | delichon 3 hours ago |
| They require no gambling license to be a stock broker on the Bolsa de Madrid stock exchange. |
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| ▲ | wsatb 3 hours ago | parent | next [-] |
| How do you defend these slimey companies? They’re actively running a mob casino and you still have people acting like government is the bad guys here. That doesn’t mean there can’t be better regulation of other markets, but comparing prediction markets to stock markets is a huge stretch. |
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| ▲ | delichon 2 hours ago | parent | next [-] | | Disagree, I find their product valuable and use them daily as a source of unusually high quality predictions. When used for this purpose insider trading is a feature that improves the quality of predictions. I see some fraud as in any market, but the overwhelming majority of transactions are voluntary, open and relatively informed within a highly transparent system. I think that self fulfilling prophecy attempts by deep pockets trying to sway markets by bucking trends generally transfers money from more to less foolish bettors. | | |
| ▲ | sorokod 2 hours ago | parent | next [-] | | A thought experiment: how would you feel about betting on a market that is an the outcome of a medical procedure? On a negative outcome? On a market for a negative outcome of your own procedure? | | |
| ▲ | gventura18 an hour ago | parent [-] | | Is it bad to take out a life insurance policy right before you have a medical procedure? | | |
| ▲ | arter45 37 minutes ago | parent | next [-] | | If the only person who can get the money is you (or your partner or children or whatever), it’s fine as a form of compensation for potential damages. If anyone, including your surgeon, can take that life insurance policy based on your life, things can go bad pretty quickly (hint: what happens if a profit-maximizing surgeon would earn a lot more money from your policy than from his regular job?). | |
| ▲ | warkdarrior 30 minutes ago | parent | prev [-] | | Not if it's your own procedure. If it is someone else's? Bad, because I'll just take a life insurance on them and then promise the doctor half of the proceeds if they ensure that the outcome of the procedure leads to an insurance payout. |
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| ▲ | mint5 2 hours ago | parent | prev | next [-] | | What predictions? Why is it useful to know what the odds are for Trump to the word “postage stamp” in a specific speech? Why are the sports odds useful? Word mention market and sports market are the majority of bets after all. Seems like >90% of wagers are useless noise. Name 7 recent useful ones you actioned based on, one for each day of the last week. I’m very curious what those may be that you use it daily. When I looked a the site and checked out a few non sport/word wagers, the actual bets were pretty unhelpful because while their summary sounded potentially informative the actual fine print showed that a weirdly constrained timeline of a specific thing was the actual deciding factor, making them useless. | |
| ▲ | superloika 2 hours ago | parent | prev | next [-] | | You lived all your life without these evil companies. Life will go on when they are banished. I don't think you will miss "unusually high quality predictions" after a week. | |
| ▲ | freejazz an hour ago | parent | prev [-] | | Show me the insider trading on polymarket that is providing you with this crucial info. Show it to me now. |
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| ▲ | philipallstar 2 hours ago | parent | prev [-] | | It's not a casino. You aren't betting against the house with polymarket, unlike with gambling sites. You're betting against other players. |
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| ▲ | nyc_data_geek1 3 hours ago | parent | prev | next [-] |
| Equities are underlying collateral. Prediction markets are literally just betting on an outcome, no underlying asset exists. |
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| ▲ | piltdownman 2 hours ago | parent | next [-] | | Prediction Markets act the same way as Gambling Exchange - the assets are denominated as both sides of the book minus the spread. https://www.betfair.com/exchange/plus/ | |
| ▲ | petcat 2 hours ago | parent | prev | next [-] | | What collateral is underlying the massive, state-sponsored, Spanish lottery ticket and scratch off racket? | | |
| ▲ | JCTheDenthog 2 hours ago | parent | next [-] | | I don't think you'd find anyone arguing that the lottery isn't gambling, so I'm not sure what argument you're trying to make here. | |
| ▲ | contubernio an hour ago | parent | prev [-] | | A casino is by definition a house that takes rake and is not the government or one of its subsidiaries ... |
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| ▲ | delichon 3 hours ago | parent | prev [-] | | Collateral is not uncommon in gambling (e.g. pink slips). That does not seem to distinguish gambling from speculating. | | |
| ▲ | bena 2 hours ago | parent [-] | | That's not collateral, that's the thing being wagered. |
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| ▲ | pantulis 3 hours ago | parent | prev | next [-] |
| Even if it was the same --I think it's not-- you'll need a "SIBE operator license", and cannot do it solo, you have to be an employee of an authorized firm (bank, broker or dealer). |
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| ▲ | delichon 3 hours ago | parent [-] | | It seems redundant to have two different regulatory systems for slightly different kinds of speculation. | | |
| ▲ | orwin 2 hours ago | parent | next [-] | | I think it's fine. Here renting (or teaching) light sails (light catamaran) needs a different license than renting (or teaching) any sail cruiser, including catamarans, despite being basically the same object (boats with sails). Feels that the small differences are enough to justify a different regime. | |
| ▲ | RandomLensman 3 hours ago | parent | prev [-] | | There are all sorts of different regulatory systems for all sorts of slightly different kinds of things. |
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| ▲ | rtkwe 3 hours ago | parent | prev | next [-] |
| It's not like equities markets are unregulated, be serious. |
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| ▲ | lifestyleguru 2 hours ago | parent | prev [-] |
| Your comment explains long queues to lottery ticket offices every time I visit Spain:) |
