There’s an actual information argument to be made if it’s betting on something important, and there’s no better, more clinical method to figure out that thing. In some experiments, a critical mass of people guessing has actually been fairly effective.
Perhaps, if it weren’t for the fact that the platform practically encourages insider trading. If there are individuals with insider information placing bets, any insights you might hope to gain from, say, the knowledge of the masses, lose their value.
Gamble everything. Will it rain tomorrow? Bet for it and gain crypto if you win.
Some guy thought gambling everything would give important information for… Something. (It’s a lie, it’s just for the money).
There’s an actual information argument to be made if it’s betting on something important, and there’s no better, more clinical method to figure out that thing. In some experiments, a critical mass of people guessing has actually been fairly effective.
Most betting market bets are not on those things.
Perhaps, if it weren’t for the fact that the platform practically encourages insider trading. If there are individuals with insider information placing bets, any insights you might hope to gain from, say, the knowledge of the masses, lose their value.