I agree the country has rampant corruption, but I disagree that the US DOJ should be pursuing insider trading on these markets.
Why should my tax dollars be spent on helping a bookie run their gambling business? Insider trading laws and prosecution in the financial markets makes sense, because the fair and impartial enforcement helps all of our economy, and allows capital to do its job investing in productive ventures.
These prediction markets are not that. They aren’t sources of investment for a productive enterprise, it is pure gambling.
Why should the US government spend money making sure people can gamble? If people want their gambling to be fair, they can pay for their own enforcement.
I like the idea of insider trading running rampant on these platforms. Once people realize that the other side of their bet knows the outcomes in advance, maybe they will stop betting their money on these platforms and they can just die.
alt Hacker News
I agree the country has rampant corruption, but I disagree that the US DOJ should be pursuing insider trading on these markets.
Why should my tax dollars be spent on helping a bookie run their gambling business? Insider trading laws and prosecution in the financial markets makes sense, because the fair and impartial enforcement helps all of our economy, and allows capital to do its job investing in productive ventures.
These prediction markets are not that. They aren’t sources of investment for a productive enterprise, it is pure gambling.
Why should the US government spend money making sure people can gamble? If people want their gambling to be fair, they can pay for their own enforcement.
I like the idea of insider trading running rampant on these platforms. Once people realize that the other side of their bet knows the outcomes in advance, maybe they will stop betting their money on these platforms and they can just die.