Reminds me of our President (SA) asking his colleagues to sign a pledge not to do corruption; when there's already a swearing in that does the same thing.
For those who live in the red-pilled real world, just don't trade on something where controlling insiders (also with a potential conflict-of-interest) can beat you at the game. This is different from bets with non-controlling insiders with no conflict-of-interest.
The key is avoiding the bets with controlling insiders, i.e. those that could have a potential conflict of interest. Even something as banal as weather data has some insider knowledge, but an insider has no practical control over it, i.e. the insider is non-controlling, with no conflict-of-interest.
I don't understand why anybody without access to serious inside information is currently betting on prediction markets. It's clear that insiders are absolutely going to eat your lunch. So who are the suckers who are losing all this money?
I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.
Kalshi: Sequoia Capital, Paradigm, Andreessen Horowitz (a16z), Y Combinator, Charles Schwab, Henry Kravis (KKR), and CapitalG (Alphabet).
Polymarket: Intercontinental Exchange (ICE - parent of the NYSE), Founders Fund (Peter Thiel), Vitalik Buterin, and 1789 Capital (Donald Trump Jr.).
PredictIt: Primarily supported by Aristotle International (a political tech firm) and historically Victoria University of Wellington.
Donald Trump Jr.: Prominent investor in Polymarket through his firm, 1789 Capital, and serves as a paid strategic advisor to Kalshi.
The current CFTC Chairman, Michael Selig, created a 35-member panel to draft new regulations for prediction markets. This panel includes the CEOs of the platforms they regulate, such as Shayne Coplan (Polymarket) and Tarek Mansour (Kalshi).
And how about friends & family without official roles, congressional appointment process approvals, etc who just.. happen to be around a lot and involved in a lot of stuff?
its free for all at the moment. its not like any of these rule were ever enforced before, lots of our govt worked on honor system & DJT exploited the heck out of it all.
Aside from the current horrible admnistracion.
If I understand correctly, One of the strengths of prediction markets is to try to get the insiders to come in and provide insider information thus improving the total info available.
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– Las Vegas
I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.
Kalshi: Sequoia Capital, Paradigm, Andreessen Horowitz (a16z), Y Combinator, Charles Schwab, Henry Kravis (KKR), and CapitalG (Alphabet).
Polymarket: Intercontinental Exchange (ICE - parent of the NYSE), Founders Fund (Peter Thiel), Vitalik Buterin, and 1789 Capital (Donald Trump Jr.).
PredictIt: Primarily supported by Aristotle International (a political tech firm) and historically Victoria University of Wellington.
Donald Trump Jr.: Prominent investor in Polymarket through his firm, 1789 Capital, and serves as a paid strategic advisor to Kalshi.
The current CFTC Chairman, Michael Selig, created a 35-member panel to draft new regulations for prediction markets. This panel includes the CEOs of the platforms they regulate, such as Shayne Coplan (Polymarket) and Tarek Mansour (Kalshi).
Hey don’t abuse privileged workplace information for personal gain isn’t exactly a fresh notion.
Imagine if professionals like lawyers and accountants operated like that.