A Boring Dystopia

15885 readers

754 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--If a picture is just a screenshot of an article, link the article

--If a video's content isn't clear from title, write a short summary so people know what it's about.

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 2 years ago

MODERATORS

givesomefucks@lemmy.world

192

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

31 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] HumanOnEarth@lemmy.ca 1 points 2 days ago

I still think you're missing the point here.

Yes, insiders swoop in especially when the odds are not "reflecting reality"..... because the profit motive is there. Which means that spikes in prediction markets are valuable information.

I'm not looking at it as a participant, I'm looking at it as a source of information. Crooked money, straight money, when there is money to made someone with information and money is going to take advantage, tipping us off.

It can be a degenerate cesspool of gambling and insider manipulation and also the bleeding edge of predictive technology..... no reason it can't be both.