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 2 days ago* (last edited 2 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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[–] suddenlyme@lemmy.zip 1 points 2 days ago (2 children)

If there's at least 2 outomes people should be able to have a punt. I don't know what the rest of you are going to do in the apocalypse if you can't bet on anything/ everything. Also I'm confused why you think we need an app or a big corporation. You basically just need another person.

[–] CurlyWurlies4All@slrpnk.net 6 points 2 days ago* (last edited 2 days ago)

There's a big gap between having a punt on two-up and incentivising blokes to throw their life savings away on whether 100 kids will be vaporised in class tomorrow.

[–] fizzle@quokk.au 5 points 2 days ago

Sure so a corporation shouldn't be able to offer punting then.