alt Hacker News>It gives people in power, wether it be the government or even an NBA ref, a vehicle to profit off of conflicts of interest / fixing games / etc...
there is the stock market for those things, where insider trading is nigh invisible to public.
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scoofy • today at 4:13 AM
> where insider trading is nigh invisible to public
...and is illegal.
It's not illegal to throw a basketball game.
I think you have completey missed my point. The stock market only allows you to trade securities, and (in theory) there is a lot of regulation and enforcement on who buys / sells stocks. Additionally, no one has the power to magically set a stock price to be a certain price on a certain date.
Polymarket all of a sudden makes it much easier to make money betting on an outcome people control. Looking at polymarket, I see bets paying 100-1 based on the number of tweets Elon makes on a given day. I see another at 100-1 on wether the US airstrikes Iran today with $66m riding on it. All of a sudden theres an incentive of a life changing amount of money for goons in the whitehouse to strike Iran for shits and giggles.
Did you know that in 2007 some NBA Refs were caught rigging games for just $2000 a game? Now Refs don't even need to be payed off when you can make a position anonymously with bitcoin.