Prediction markets are a wonderful idea that at the moment is strongly lacking in prestige signals, bare minimum of regulation and liquidity.

> Prediction markets are a wonderful idea

Yeah, it's just like being able to take an insurance policy on other people's lives. It's a wonderful idea for all of 15 minutes until people start getting murdered.

> bare minimum of regulation

No amount of regulation will solve the issue when what you can take insurance on is not regulated.

Prediction markets are to insurance the same as crypto is to banking: a speedrun of all the frauds that happened in the past until the perpetrators are sent to jail or regulated so heavily that they are virtually identical to what they were supposed to disrupt.

"a wonderful idea" -- some hyperbole there.