I wrote a blog post about how "prediction markets" are undeniably gambling. Dodging the label lets them get away with incredibly harmful things, and avoids a harder society-wide conversation about how toxic integrating gambling into everything is.
Not to spoil my own reveal, but Kalshi does directly link to the National Council on Problem Gambling, and prediction markets have set up a "self-exclusion" system identical to those used by Casinos. That, in my mind, undercuts many if not all of their arguments about being markets first.
I hope you find the post informative, if not at least entertaining.
Hi all,
I wrote a blog post about how "prediction markets" are undeniably gambling. Dodging the label lets them get away with incredibly harmful things, and avoids a harder society-wide conversation about how toxic integrating gambling into everything is.
Not to spoil my own reveal, but Kalshi does directly link to the National Council on Problem Gambling, and prediction markets have set up a "self-exclusion" system identical to those used by Casinos. That, in my mind, undercuts many if not all of their arguments about being markets first.
I hope you find the post informative, if not at least entertaining.