Comment on: Senators demand crackdown on wildfire "prediction market" bets
> Prediction markets allow us to quantify risk.Might as well derivate it from existing casino's roulette games, it's not like anyone betting on these are subject experts.It's pure greed and fomo, sprinkled with a bit of cheating and corruption.
Comment on: Senators demand crackdown on wildfire "prediction market" bets
So what is the rational reason someone who isn't a subject matter expert (assuming that's what you mean by SME) to bet in prediction markets? The platforms appear to be marketed to the general public to be used casually as a way to make quick money.Someone who is a "subject matter expert" (and given how specific many of these predictions are, being an expert usually means you are an insider with non-public information) can indeed make money as long as a bunch of idiots with worse information place bets thinking they know the outcome. This is considered to be a crime when done with other securi