Comment by Invictus0
8 hours ago
if you can't tell the difference between a game of pure chance and predicting real world events then there is simply nothing to say
8 hours ago
if you can't tell the difference between a game of pure chance and predicting real world events then there is simply nothing to say
https://en.wikipedia.org/wiki/Fooled_by_Randomness
Predicting real events is significantly random which makes it like gambling, but the ability to influence events makes it unlike gambling.
Just calling it gambling emphasizes the former problem while dismissing the latter problem.
any game with a positive expected value is also not gambling, it's mining
I can tell the difference (at least I think) but I have no idea what your point is.
prediction markets are not pure gambling just as investing in stocks is not gambling.
I don't follow. What's the definition of "pure" gambling here? Do you consider for example poker to be pure? Sports betting?
Personally I consider any monetary wager where the individual isn't personally invested in corresponding productive events to constitute gambling. By that logic poker, horse races, prediction markets, futures, and even the vast majority of day trading all constitute forms of gambling.