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Insider trading, but make it worse
(lemmy.world)
Well yea, is it not blatantly obvious to everyone that bad actors will use this "bet on anything" bullshit to grift the system?
I'm certain the people who run the websites know this and don't give a shit, because it's profitable.
The weird thing is that it provides OPSEC to US opponents. Simply watch polymarket for a yolo bet
This is the most important comment on the issue. It's pretty much giving US secrets away ahead of time.
You can't really stop it when you make a decentralized platform like that.
It's like saying we made cash and we knew people would fund terrorism with it but oh well.
A decentralized betting platform has benefits. It also has detriments.
Any website involved is really just a front end. It's on the blockchain and can be used regardless of website and its there forever now, but the website definitely makes it easier to use.
I still want to know who made $$millions shorting American and United Airlines before 9/11.
You have to be an idiot to gamble at these sites. I already feel like an idiot for having money in the stock market with all the insider trading, but thanks to inflation you're fucked if you do and fucked if you don't.
The stock market is a global suicide machine, change my mind
It's a ponzi scheme supporting millions of people's retirements, myself included.
Ideally we have social security, which is a much more regulated and carefully managed ponzi scheme but the people in power use it like a piggy bank because it's not like they're going to be around when it runs dry.
I live in a country with a quite strong social security scheme, but the money in our social security funds, like pensions, is mostly invested in the stock market anyways.
I'm willing go bet a lot of people making weird bets like this are doing the equivalent of insider trading. The whole concept of betting on random news is ripe for the opportunity for people with insider knowledge to always win big off of the losses of gambling addicts.
That's the point of those platforms, to bribe the people with that knowledge to reveal it.
Yeah unlike sports where at least the games are ostensibly fair, heavily scrutinized, and managed by organizations that try to stop this. Even then it still happens sometimes.
This system is just completely unenforceable insanity.
Of course it is and the creators know that. But it's profitable
Barron is doing this shit.
This is just a big Stellaris simulation. It's just that we haven't founded the United Nations of Earth and reached the year 2200 yet.
400k seems relatively low for the usual scum. Could be a lower rank military personnel, or a staffer.
Or a team of them
Yeah, the bet was only 32k. Honestly surprising more people didn't have this idea
My question is what are the other predictions
Can we all go on polymarket and start a betting pool that Peter Thiel will not be violently assassinated by the end of the year?
Bad people don't die. The more evil you absorb the longer you live. Like Kissinger living to 100.
There are exceptions to the rule for example Rush Limbaugh and maybe soon Scott Adams.
I suspect it's the lack of stress due to being a sociopath. Not caring about others has to make life pretty easy in some respects.
This is the least of it. Representatives entire families are set for life. Somehow, everybody in their family gets stinking rich after election, and their book is always a "NYTimes best seller" because they are bought by the campaign (and dumped in a landfill), insider trading is rampant, super-PACs.
I'm okay with someone in the military picking up some extra cash. Family has to eat, whether government is "shut down" or not. I hope it was some smart ass buck private.
In the USA politics is the number three easiest way to achieve "financial security", only inheritors and prosperity gospel preachers have it easier.
It's not fucking military leaking unless they came in with Drunk Pete Hegseth.
TIL there’s a website where anyone can bet on anything.
What?! What are the odds?!
Put me down for a tenner
You lost
Fuck
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(6 replies)
Polymarket, Kalshi and others are Insider trading systems camoflauged as a "Truth Seeker" but at the end, It is a gamble even worse than a gambling casino. The insider trader has a incentive to stack odds against oneself and "beat" a better likelihood in the market. Even as a truth finder, It works at the last second before the actual reveal.
How is this legal
Crime is legal now
Always has been if you're rich.
Legally they are not betting against the house. People are betting against each other on if a certain event will happen, and the site takes a set percentage for facilitating the bets. This makes it legal under gambling laws in most US States.
So if I opened a physical casino with let's say roulette without 00 but a commission charge to play it's legal?
Till Jan 5th or earlier would have been suspicious. Jan 31 is the safe bet. The US had sent a carrier group and some people mentioned that the costs dictate that they had to act within one month.
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this post was submitted on 04 Jan 2026
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