Math wins over your feels every time.
Prediction markets are all the buzz, but banning them isn’t fixing the problem. This has happened forever. Let’s not forget there was an unusual amount of put option buying right before 9/11: https://ideas.repec.org/a/ucp/jnlbus/v79y2006i4p1703-1726.ht...
Similarly to how people would pay premium over inusrance
Stephen Miller and Charlie Kirk were pretty clear their sides whole philosophy is take and never give back. They learned it was OK not from their parents but gen pop sitting on their hands.
The entire economy is Las Vegas now; only the (white) house wins
And yet there are folks like me who have been on them for years before kalshi/polymarket making a very good side income from them without having insider knowledge.
Prediction markets as a whole are very very inefficient. That's not to say that insider trading doesn't exist but you can't claim that they require insider trading to function.