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    Coll@awful.systems to TechTakes@awful.systemsEnglish · 2 months ago

    How prediction markets create harmful outcomes: a case study

    bobjacobs.substack.com

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    How prediction markets create harmful outcomes: a case study

    bobjacobs.substack.com

    Coll@awful.systems to TechTakes@awful.systemsEnglish · 2 months ago
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    What sport scandals can teach us about legalizing prediction markets
    • Coll@awful.systemsOP
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      2 months ago

      people without disposable income are now excluded

      The article does say/link:

      I’ve previously talked about how it may not always be ethical to require people to bet on their beliefs, and talked about how the interests of rich people could bias certain prediction markets

      As for

      The bullshit artist prevention also doesnt work

      In the footnote it does say:

      This doesn’t work for very longterm bets, and it also wouldn’t convince everyone, since conspiracy theorists still exist. Still, I expect it to be helpful on average.

      Although there’s likely still an overestimation of how much it would help

      • YourNetworkIsHaunted@awful.systems
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        2 months ago

        I started reading the post about wealth bias and was immediately distracted by the fact that they’re trying to call a government based on prediction markets a “futarchy” which speaks to these people being entirely the wrong kind of terminally online.

        • bitofhope@awful.systems
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          2 months ago

          Hell yeah rule by dickgirls

        • nev@bananachips.club
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          2 months ago

          @YourNetworkIsHaunted @Collectivist Oh no. Oh noooooooo

          • Angela Glansbury 🚽@todon.nl
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            2 months ago

            @nev @YourNetworkIsHaunted @Collectivist
            here’s someone who doesn’t want to be ruled by the futureari

            • nev@bananachips.club
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              2 months ago

              @floppyplopper @YourNetworkIsHaunted @Collectivist i welcome our new rationalist gambler dickgirl overlords

      • Soyweiser@awful.systems
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        2 months ago

        I saw those but I think it totally removes the pros, also my second complaint is that conmen would simply not join, and this will not expose them as frauds and they cant be made to join as forced betting on yourself is a crazy idea. (Also increases upfront costs for everyone more).

        It is all very much wargames.

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