the equivalency is both go bankrupt if people win as much as the house wants you to think they win
replyPrediction markets' business model is taking transaction fees from contracts between independent counterparties. Kalshi won't go bankrupt no matter how much you make there (though 'people' collectively will make negative [fees + taxes]).
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replyI’m not sure what you mean.
replyA pyramid scheme uses new investor money to pay fake returns to those who have already invested.
A casino provides games to bet on where expected value for the player is negative. A sportsbook balances their book by modifying the odds to remain as neutral as possible and capture the spread (see ‘vig’).
There’s not a whole lot of similarity there.
Probably referring to online gambling specifically. And I would frame it as the folks who promote pyramid schemes are the same as those who promote online gambling.
replyscammin the rubes
replynot really
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