The genie is out of the bottle. Crypto-only underground prediction markets will always exist. I think it is better to heavily regulate legal options instead of pushing them underground. That didnt work for drugs or prostitution, and it wont work for gambling.

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officialchicken an hour ago | parent | next [-]

Except, gambling isn't illegal here - in fact, it's very common. There are lots of casinos within a few mins walk in any city in Spain. All the prediction markets need to do is comply with existing laws.

	▲	embedding-shape an hour ago \| parent [-]
		For some reason, American companies have a really hard time following existing laws and regulations here. AirBnb and Uber both had the same approach of basically saying "Oops we didn't know" until the law (and others) cracked down on them, I'm sure someone could find older examples too, and surely tons of examples outside of Spain too.

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rapind an hour ago | parent | prev [-]

Except it generally worked for gambling for a very very long time. The existence of a black market does not mean something should be legal. Human trafficking happens, but that doesn't mean we should legalize and tax it. (extreme example I realize, but I use it to illustrate a point)

	▲	littlecranky67 an hour ago \| parent [-]
		Pushing it to black markets takes away the possibility of heavy regulation (which absolutely should be in place), and stigmatises victims (gamblers), making it harder to come clean to friends and family. I agree with your assesment that no one should even start to gamble, I just doubt that declaring it illegal will achieve that.