alt Hacker NewsYeah, you're right. Guess we shouldn't talk about what's happening now or do anything to address it.
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Not what I'm saying, but this has happened _so many times_ and nothing has come of talking about it so far. I would love to see things change, but in this specific instance I'm not holding my breath
That isn't very nice. OP never suggested we shouldn't talk about this topic, only that we all know this has been happening for a century.
Legislation has been introduced to address this exact problem. Edit: Polymarkets should be hevialy regulated or made illegal. In fact, they were illegal, until someone found a loophole.
Stop Insider Trading Act (House): Introduced by Rep. Bryan Steil, this bill aims to prohibit purchasing publicly traded stocks, requires 7-day notice for sales, and imposes penalties for violations. It is supported by GOP leadership.
Restore Trust in Congress Act (Senate): Introduced by Sens. Kirsten Gillibrand and Ashley Moody, this bill bans trading/ownership of individual stocks and requires divestment within 180 days of enactment.
Or just legalize it across the board recognizing that when only the powerful can make use of it. and we're not going to do anything about the powerful, we might as well let everyone else in on the game.
That is truly my cynical mindset at this point. The degree to which my trading is regulated is beyond absurd in a market and society where things like this are allowed to happen.