Prediction markets allow bets on a wide range of topics, from Elon Musk’s tweet frequency to the next U.S. president, with often surprisingly accurate predictions. Shayne Copland, Polymarket’s CEO, even praised them as humanity’s current pinnacle of accuracy. Yet, these platforms blur the lines between gambling and stock trading, both functionally and regulatory-wise. Joe Weisenthal from Bloomberg noted that these distinctions are being significantly eroded. Ethical concerns accompany prediction markets, such as the appropriateness of betting on almost anything and insider trading risks. For instance, a new Polymarket account reportedly earned over $400,000 by betting on the capture of Venezuelan leader Nicolás Maduro in January.
Everything is Gambling Now: Latest on Prediction Markets like Polymarket and Kalshi
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