Comment Text:
Prediction markets are gambling. Simple as that. While they may structure there finances differently than a bookie we don’t define gambling based on how the company makes money but on the act of gambling itself. And you can call it an event contract but at the end of the the day “prediction markets” is just gambling. Gambling on sports or gambling on geopolitics or gambling on the weather is still gambling. Merriam Webster definition of gambling: the practice or activity of betting : the practice of risking money or other stakes in a game or bet. That’s what prediction markets are. They are gambling apps. Either regulate gambling the same across the board or dont regulate gambling at all but whatever you do be consistent. Markets rely on consistency.
