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'Bone-Chilling': Gamblers ‘Vowing to Kill’ Journalist Unless He Changes Iran War Report to Help Them Win Polymarket Bet (www.commondreams.org)

submitted 1 day ago by return2ozma@lemmy.world to c/nottheonion@lemmy.world

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[–] CXORA@aussie.zone 0 points 8 hours ago (1 children)

It literally doesnt sound like a ponzi scheme at all.

[–] KeenFlame@feddit.nu 2 points 2 hours ago (1 children)

They pay for voting power in disputes over betting so that it literally only gives return by new investors - exactly like how any ponzi scheme works

[–] CXORA@aussie.zone 1 points 1 hour ago* (last edited 1 hour ago)

"Voting power" has nothing to do with the original ponzi scheme. It was all about using the money from new investors to fake high returns on investments for all investors. So a betting market where people aren't assured return at all starts from quite a different proposition, and adding "buying voting power" to it does nothing to increase the similarity.

At a stretch you could compare it to an MLM.