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Comment by dragonwriter

1 hour ago

Commodities futures markets on which what are traded are contracts for future delivery of goods do that.

Prediction markets—forums for gambling on the outcome of a platform-provided referee as to how a proposition about the future will be resolved—do not do that at all.

Now, the legal definition of commodities markets for regulatory purposes in some jurisdictions may be broad enough that prediction markets are legally a subtype of commodities market despite doing a very different thing than traditional commodities markets, but that’s an artifact of a legal definition being drawn in a very broad way at a time when it didn’t matter because nothing like prediction markets existed.