Comment by dh2022
2 days ago
The article’s point was not that Polymarket is the problem-the point is validating and advertising Polymarket on national news outlets will have ugly consequences.
2 days ago
The article’s point was not that Polymarket is the problem-the point is validating and advertising Polymarket on national news outlets will have ugly consequences.
Yeah, once it's on television, it is similar to polling, which can influence elections because people like to vote for the winner. However, in this case it's even worse, because someone with deep pockets can influence the predictions.
But polling is still scientific and harder to manipulate than the betting markets. All of this is covered in th article. You should read it-it is a good article.
harder to manipulate than the betting markets.
Sorry, that was what I meant to imply with the second half of my comment. Still, in my country there have been debates about whether publishing polls shouldn't be forbidden n weeks or days before the election (currently publishing polls and campaigning is only forbidden on election day).
The solution is baked into the problem. If prediction markets become generally embraced by the public (mentioning them on CNN is part of that evolution) then they will be much harder to manipulate. Size matters.
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> the point is validating and advertising Polymarket on national news outlets will have ugly consequences.
Coinbase
Robinhood
DraftKings
FanDuel
Yes, all of those are equally problematic.
Polymarket here is one example among the companies causing the problem. Legislation that addresses the problem should affect all the listed companies and more, not just Polymarket.
Giving credence and advertisement to all of those has caused huge societal problems. Sports Betting is a huge problem.