There’s growing possibility prediction markets are gonna get shut down

[jjgold]

Yep

 

[theriver55]

could happen

 

[jjgold]

They are 100% sportsbooks and tons of lobby money against them now

 

[Tanko]

The books have some major lobbying money flowing.
Could easily be buying off politicians to eliminate the competition.

 

[samsncharge99]

is there a prediction market option on if the prediction market will be shut down or not?

 

[Tanko]

is there a prediction market option on if the prediction market will be shut down or not?

That's deep....
And I think there is but it won't pay off if you win because you'll.... either lose your bet or it'll be closed.....

 

[samsncharge99]

That's deep....
And I think there is but it won't pay off if you win because you'll.... either lose your bet or it'll be closed.....

exactly. Books always win

 

[ktollinche]

I dont see how them taking bets on sports without a states' license is legal.

Just cause they call them 'shares' doesnt mean they are not bets

 

[JDS]

@KVB

 

[Tanko]

@KVB

I'm very confident he will have something for us on this topic. Fa sur.

 

[JDS]

I'm very confident he will have something for us on this topic. Fa sur.

Get ready for a short novel response

 

[europro]

@KVB

kvb panicking man

 

[JDS]

kvb panicking man

Never that

 

[Headsterx]

This is not a shocker. Only thing shocking is that it has lasted this long. If it quacks like a duck, it is a duck.

 

[theriver55]

Never that

LOL

 

[Wagerallsports]

A few states are already in the legal process of having them shut down

But it doesn’t mean all will pursue it

 

[Headsterx]

It also is amazing that Coinbase has it, too. They prohibit crypto transactions involving gambling, though I haven’t been banned yet, it’s hilarious they have prediction market on their platform. Damn, money talks.

 

[jjgold]

States are all broken and they need revenue from every source and obviously prediction markets are not paying their fares share or are they paying at all?

 

[KVB]

California courts have ruled and the Injuns are pissed going to need a federal rule to shut it down in Ca.

I could see shutting down some of the types of contracts, but no need to shut down the Sports ones if they can keep it, regulated and insider trading out.

I can make a case that being able to buy contracts on sports teams to win, especially large games like Super Bowl or NFL playoffs, is a way to hedge against economic slumps in the region in question.

 

[KVB]

Say I have a business in Philadelphia near the stadium.

If they suck this year, my business doesn’t do as well, I can buy competitor teams and try to make it up that way as a hedge.

If they do win the Super Bowl, there’s such a big boom to my business that I could’ve been hedging against with exchange contracts on other teams to guarantee some sort of boom in case they fail.

It might sound like a reach, but it is what it is.

It’s a real Mattress Mack situation lol