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.
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.