Ignorance is strength.
Openly corrupt markets that feature insiders with secret knowledge taking money from gambling addicts and rubes is actually good cause the crowd is now wiser.
Someone must have just mistakenly put in regulations against insider trading before, for no good reason. Luckily this isn’t anything like the normal tech play of figuring out a loophole or flat out ignoring the law and hoping you get too big before the regulators catch up.
With these betting markets, do you think it's critical that they exist, but with bans on insider bets? Because I'm not sure anyone you are moralizing at is taking up the argument that it's critical that they exist.
No, I don’t think they should exist at all.
You cannot have an open-ended prediction market with the same protections. It's just impossible from a practical standpoint, much less theoretical one.
I don't think these should be legal since it's just enabling more random gambling, fraud, etc. or even worse for no clear societal gain. But if they do exist, the only purpose for them is to lure out insider information into the open. Pretending they are just folks gambling on 'random' outcomes like a fair coin flip is naive at best.
