Comment by kelseyfrog
1 day ago
The real power in prediction markets is creating a market for what you want to occur - it's a tangible method to leverage hyperstition.
If you want Polymarket to no longer exist, then simply create a pool for "Polymarket will no longer exist by Jan 1st 2027" on Kalshi, pump the price, and wait for one of these whales to do the job of making it come true for you. When done right, you get the satisfaction of the thing happening, and all of the ROI for entering on the ground floor.
Rinse and repeat and you no longer have to sit by the sidelines and view world events as things that unfold without your input. You can be an active participant in making history the way you want it.
So are you advocating for the idea that the wealthy should be able to control history then, by nature of having the largest amount of betting capital?
Don't the wealthy already "control history" by having the "largest amount of capital"?
To some extent yes, so why make it easier for them? While also giving them another way to siphon wealth off the losers for betting against them?
I'm arguing for taking advantage of this before you can't.
People who aren’t sociopaths might argue no one should be taking advantage of this, and that the people behind these services should be in prison
4 replies →
How? Some guy wants Polymarket gone so he bets $1 billion that it will be gone. Since this is absurd, everybody bets against him and makes a tidy profit. Whatever this is you’re proposing it doesn’t work.
I think they're saying you bet $1 billion it will not be gone, and someone takes that bet and kills Polymarket (How?)
Ah yes, of course and then he pays poly market ceo half that to close the company in time. But how do you not get screwed in your subterfuge?
1 reply →