Honestly this is a good thing, and we should ban online sports and casino betting in the US too. They add absolutely zero value to society, they just cause harm.
Studies have shown that most of the profit from online sports gambling for example comes from people with gambling addictions. These companies are just greedily sucking away money from vulnerable people. These companies really do ruin lives and destroy families.
I can see that maybe prediction markets might offer at least SOME value to society, so if I were made global dictator tomorrow, I wouldn’t ban them right away, but I’d definitely want to see more studies doing a risk benefit analysis.
And the algos they use to drive people harder to gamble are particularly pernicious. It isn't just putting slot machines in their way when they're walking to the washroom. It's high-pressure psychological tactics that are hard for non-addictive people to ignore, let alone gambling addicts.
It's utterly evil, and destroys lives and families. This shit needs to go.
nightsd01 · · focus · HN ↗
Studies have shown that most of the profit from online sports gambling for example comes from people with gambling addictions. These companies are just greedily sucking away money from vulnerable people. These companies really do ruin lives and destroy families.
I can see that maybe prediction markets might offer at least SOME value to society, so if I were made global dictator tomorrow, I wouldn’t ban them right away, but I’d definitely want to see more studies doing a risk benefit analysis.
ikidd · · focus · HN ↗
It's utterly evil, and destroys lives and families. This shit needs to go.