To me it's absolutely crazy that the "gamble on anything" apps are being advertised as some kind of polling software. I've already seen at least one race called into question because the gamblers bet on the wrong pony.
They're pure corruption engines designed for insider betting. The top brass of these companies need to be made example of.
i would not premise an anti-prediction market argument on their accuracy being bad, you are building on shaky foundations. the better argument is the paternalist protecting stupid people from themselves imo.
is there any surprise then that Trumps are on the boards of both?
Here is their official stance on gambling: https://www.churchofjesuschrist.org/study/manual/gospel-topi...
I am not sure how much, if any, impact or influence this has had on Utah law.
... Gambling is motivated by a desire to get something for nothing. This desire is spiritually destructive. It leads participants away from the Savior’s teachings of love and service and toward the selfishness of the adversary. It undermines the virtues of work and thrift and the desire to give honest effort in all we do.
Those who participate in gambling soon discover the deception in the idea that they can give little or nothing and receive something of value in return. They find that they give up large amounts of money, their own honor, and the respect of family members and friends. Deceived and addicted, they often gamble with funds they should use for other purposes, such as meeting the basic needs of their families. Gamblers sometimes become so enslaved and so desperate to pay gambling debts that they turn to stealing, giving up their own good name.
Given the way that the church has explicitly encouraged state legislators to shoot down recent laws it's not surprising to think they'd be pushing for this.
And the way they've influenced voters in Idaho and Arizona recently.
https://leg.wa.gov/state-laws-and-rules/washington-state-con...
>SECTION 24. LOTTERIES AND DIVORCE
>The legislature shall never grant any divorce. Lotteries shall be prohibited except as specifically authorized upon the affirmative vote of sixty percent of the members of each house of the legislature or, notwithstanding any other provision of this Constitution, by referendum or initiative approved by a sixty percent affirmative vote of the electors voting thereon. [AMENDMENT 56, 1971 Senate Joint Resolution No. 5, p 1828. Approved November 7, 1972.]
>NOTES: Original text — Art. 2 Section 24 LOTTERIES AND DIVORCE — The legislature shall never authorize any lottery or grant any divorce.
Everyone knows the state of Utah is largely run by the church.
Surprisingly few people know this ime. It's worth pointing out as one of the few areas [0] where the church has as much pull as its members think it does.
While I wouldn't look to the church as a bastion of morality for So Many Reasons, it's worth looking at a hard example of how it is able to manipulate politics in Utah, and by extension nationwide.
[0] Other areas worth being aware of are Idaho and parts of Arizona of course.
Now, Robinhood is a brokerage, regulated by FINRA, and has been fined for misbehavior in the past. So I am more than willing to believe that there is daylight here that I’m not seeing. But anything that lets you speculate attracts a certain clientele, and I think the most important distinction is whether or not the platform itself is an interested party.
Also speculators serve an important purpose: hedging strategies require speculators on the other side. It is not just a "certain clientele," there are people who run profitable businesses on speculation (it amounts to collecting insurance premiums from people who want hedges).
Lots of folks gripe about how Kalshi adjudicates contracts.
&&
policy makers, assistants, journalists, and the like are insider trading - and the president of the united states is intentionally market manipulating for profit
Bots Rule Everything Around Me BREAM dollar dollar bill yall.
like, of course the gambling halls drop big money on online marketing
And it's terrible and going to destroy sports.
With enough funds, smaller political races can be gamed.