A Boring Dystopia

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Prediction market trader 'Magamyman' made $553,000 on death of Iran's supreme leader (www.npr.org)

submitted 3 days ago* (last edited 3 days ago) by CurlyWurlies4All@slrpnk.net to c/aboringdystopia@lemmy.world

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An account trading under the username "Magamyman" made more than $553,000 placing bets on the prediction market Polymarket that Iran's Supreme Leader, Ayatollah Ali Khamenei, would be out of power just before an Israeli strike killed him on Saturday.

....Under U.S. commodity trading laws, making trades based on death and war are illegal, since those kinds of bets create a financial reward for violence, human suffering and geopolitical instability.

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[–] justsomeguy@lemmy.world 15 points 3 days ago

Gambling ads go brrrrrr.

A good third of the population simply don't have the cognitive capabilities to understand these things and if they're not protected by regulation they'll always fall for some form of scam.