A federal appeals court ruled Friday that states can regulate prediction markets like gambling, dealing a major blow to the booming industry.
A federal appeals court ruled Friday that states can regulate prediction markets like gambling, dealing a major blow to the booming industry.
Who does gambling benefit?
Investors, insider traders, fraudsters, the usual.
No one. It is parasitic.
Although prediction markets might help get an honest read on what people that bet think will happen, seeing as they outlawed the non profit predictit around 2021 or so, run by universities while giving the franchise to for profit companies, means these companies maximizing revenue will pollute the predictions resulting from seeing how people vote with their money, (a more honest measure than their words.)
The ultra wealthy
Yep, being a “growth industry” feels really unhealthy for the country
It’s a fact, not some kind of defense of gambling. The US economy is only not in a recession by technicality, because of a few industries propping it up: gambling, healthcare, and data centers.
Healthcare is real economic activity, everything else is fake and parasitic. But, once they fail things could unravel.
I do appreciate that, but I hate the fact! Thank you for sharing