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[–] 104 points 3 months ago (5 children)

prediction markets used to be illegal, and should be once again. anyone betting on tragedy like this should be banned from any form of gambling that is allowed

but nothing will happen because the system is corrupt and people are garbage

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  • [–] 18 points 3 months ago

    I mean, betting apps are banned every so often precisely because of this. I don't know how they come back to life like nothing ever happened, but I think this is the third or fourth iteration of them.

    The first iteration was killed when they allowed betting on terror attacks. The "logic" was that people with knowledge would bet on the next attack (this was after 9/11) making preparations easier. Just like in the cases of wildfires, though, allowing people to be on an outcomes gives them an incentive to effect it. Buy matches, bet on wildfire.

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  • [–] -1 points 3 months ago (2 children)

    Wouldn't they just move onto the dark web?

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  • [–] 8 points 3 months ago

    better than fully sanctioned and advertised everywhere you go. They have gambling website and prediction markets hosting news/sports segments, its everywhere.

    Making it run back to backroom dealings is a massive step forward

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  • [–] 1 point 3 months ago* (last edited 3 months ago)

    If it's really impossible to prevent people from gambling on wildfires and from creating financial incentives to start them, then I would strongly prefer that it at least be relegated to the furthest fringes of society possible.

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  • [–] 35 points 3 months ago

    Yup. Assholes could make a prediction and then start a fire.

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  • [–] 21 points 3 months ago

    Makes arson a pretty lucrative activity. This betting on tragedy shit is peak gilded age disaster brewing.

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  • [–] 57 points 3 months ago (5 children)

    If I hear anyone mention that they participate on these markets, I instantly look down on them. Fucking pathetic garbage. You want to make money? Do some fucking work. Contribute to society in some way. Betting on whether a wild fire will consume a town, or a school will be bombed, or a country toppled, makes someone a irredeemable piece of shit.

    Honestly, the whole goddamned stock market should be razed to the ground, salted earth. Workers need to be the ones in control of the companies, not those who think money is what can buy power and control. It all serves to funnel paper up to the capitalists who control it all. How are prediction markets any different? Burn it all down.

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  • [–] 30 points 3 months ago (1 child)

    Occupy Wall Street should've been the start of burning it all down.

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  • [–] 2 points 3 months ago*

    Other factions were too busy trying to push their own ideas into the movement, and it became this generic mess that didn't inspire anything. Nobody really knew what it stood for.

    And with the attitude of the group, there was no "burning" anything down.

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  • [–] 5 points 3 months ago (1 child)

    I used one to bet on a football game when they first came out, but all the non-sports things to gamble on gave me the ick pretty fast. I’m not even a big gambler but if I decide to add some extra spice to a game i plan to watch in the future I’m just going to a sports book, casinos are scummy as hell but for the most part gaming regulations are followed on at least a surface level and you can’t win money on the purposeful suffering of other people or something equally tragic. Or you couldnt last I checked

    The ubiquity of gambling culture is killing sports too, which is also much less of a danger but speaks to how when completely unchecked it will ruin everything. I don’t know too many fans of any sport that don’t at least kinda think things are so out of hand it’s calling the legitimacy of the game into question

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  • [–] 3 points 3 months ago

    Tbf a big portion of the stock market - ie oil and arms industry investments - has been "betting whether a school will be bombed or a country toppled" for a long time. This is just a more mask-off version of what America has always been.

    Which I don't say to defend it. Exactly the opposite.

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  • [–] 17 points 3 months ago (1 child)

    Okay calm down everybody, they clearly have it stated in their terms and conditions that you're not allowed to bet on fires you started. Nothing to worry about here.

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  • [–] 13 points 3 months ago

    No shit, Sherlock experts.

    Prediction betting sucks, but this kind of disaster prediction is disgusting.

    How is this even legal. Seems so obvious.

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  • [–] 11 points 3 months ago

    "Hey commander, let this village burn and let's save this one, I got my entire life savings riding on this"

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  • [–] 6 points 3 months ago

    What do you mean "could?"

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  • [–] 10 points 3 months ago

    They're not markets.

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  • 5 comments in c/nottheonion@lemmy.world view that post
    [–] 27 points 3 months ago* (2 children)

    I don't understand how apps like Polymarket are legal when they're essentially unregulated gambling that's rigged against regular users due to the amount of insider trading that happens on the platform.

    Being able to bet on wildfires doesn't make any sense, since it gives people a financial incentive to start fires. 🤔

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  • [–] 13 points 3 months ago

    Thanks, I hate it!

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  • [–] 8 points 3 months ago

    Oh yeah we're all fucked.

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