Bookies determine the odds and typically refuse to take bets from skilled bettors.

A market is open to all, with the odds influenced by all participants. In established betting markets such as for stocks, pros dedicate their careers and their organizations to improving the public estimates emerging from the market (though not for the sake of that improvement).

General prediction markets might turn out bad, but the above isn't an argument why, it's namecalling.

They're also heavily, heavily fixed of course. There's nothing stopping anonymous folks from betting on things they control/influence.

I just can't take anyone who uses that term seriously. Just because a billionaire CEO told you it's not gambling doesn't mean it's true.

At least in gambling they don't let the sports referees and players gamble.

This is just another racket for those in power to continue making the world worse for just a little bit more gain for themselves.

Edit: Throttled like always, you guys hate me (and reality/law in this instance) https://www.nbcnews.com/sports/sports-gambling/20-charged-ba...