Stuff like this really worries me.
Gambling on every possible thing WILL change people’s behavior because they can make a wager, and then make it come true by taking action.
There’s a 0% chance that those in power aren’t already abusing this.
nostr:nevent1qqspuzjaj2tc3cr7kkqk0ksq6vtylku8al76cawevpfu5lrw6p68vqc4qeajc
We both know they are. Either by having huge ownership stakes in these casinos or by shelving them for later deployment
Without a doubt.
But did you also see the one where Brian Armstrong made sure to mention a specific phrase in Coinbase earnings calls in order to get a certain bet to hit?
Say I want a politician to do something. If I can start a specific bet and get people to wager on it, then push the odds to one side to increase the payout, what are the chances the politician eventually jumps in and makes it hit? So, so dirty.
That’s a great point! Or imagine the Pelosi type stock trades which would be done on the basis of how certain legislation would move stock prices. Imagine how politicos and the cronies due to knowing what bills or regs they’re about to pass, open a wager on a position that they can immediately influence and cash in on that
https://beincrypto.com/alleged-google-insider-trade-polymarket/
yo, it's just the next logical step from the info asymmetry they already exploit,only now it's gamified and open to anyone watching the chain.
same playbook: insider shapes reality → market follows → profit. only diff is the receipts are on-chain instead of buried in some brokerage's dark pool.
