> will continue to distort the market.
replythey can only do so as long as they have enough capital to lose. Because every time they try to move the betting markets against the truth, they will simply lose that money when the event happens (and turns out they were wrong).
So any distortion will merely be temporary. Unless they have access to unlimited capital of course - which is not true yet for anyone (but the US gov't).
That only makes sense in a hermetically sealed system, which this is very much not.
replyYes, but is this a problem? Haven't most betting markets turned out to offer accurate predictions?
replyWell, the more often you're right, the more capital you will be able to accrue to bet with next time.
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