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yonderbarn@lazysoci.al to Technology@lemmy.worldEnglish · 2 days ago

States can regulate prediction markets as gambling, federal appeals court rules

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States can regulate prediction markets as gambling, federal appeals court rules

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yonderbarn@lazysoci.al to Technology@lemmy.worldEnglish · 2 days ago
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States can regulate prediction markets as gambling, federal appeals court rules | CNN Business
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  • IphtashuFitz@lemmy.world
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    20 hours ago

    Now do private equity firms.

  • IronBird@lemmy.world
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    7 hours ago

    i forsee a 6/3 vote overruling this in favor of gambling soon

    • OhStopYellingAtMe@lemmy.world
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      1 day ago

      Oh yeah? How much you wanna bet? ;-)

  • ParlimentOfDoom@piefed.zip
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    1 day ago

    Why was this a question. It’s obviously fucking gambling. Putting money on the outcome of an event is the fucking definition of gambling…

    • Raiderkev@lemmy.world
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      20 hours ago

      No, you’re buying contracts that change value based on the outcome of the event. It’s clearly investing. Just like when I go to the casino and invest in blackjack. Same, same.

    • DrStanleyGoodspeed@lemmy.zip
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      20 hours ago

      Yea ikr? I get the whole statistical aspect of it as useful information from the crowd wisdom or whatever, but actually betting on it is full on gambling. Like it’s a gamblers wet dream!

  • theneverfox@pawb.social
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    2 days ago

    Well that took way too long

  • Sims@lemmy.ml
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    1 day ago

    All market behaviour is gambling and economic war against everybody else - to the death. But it doesn’t sound as benign / innocent as ‘competing on markets’… Point is that all market behaviour needs regulation or better yet, to disappear.

  • ruuster13@lemmy.zip
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    2 days ago

    This one is going straight to the supreme court. The trump crime family is making way too much off these to go down without a fight.

    • village604@adultswim.fan
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      2 days ago

      And the SC will definitely side with him. Thomas needs a new RV.

      • OwOarchist@pawb.social
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        1 day ago

        It can’t be just RVs and lavish trips with billionaire friends.

        There’s definitely some Epstein shit going on during these ‘vacations’.

    • sp3ctr4l@lemmy.dbzer0.com
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      Yep. They’re gonna get big mad about that.

  • yonderbarn@lazysoci.alOP
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    2 days ago

    Young adults under 21 traded $5 billion on Kalshi this year, amid prediction market frenzy

  • TIEPilot@lemmy.world
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    2 days ago

    Can we just put gambling back in Las Vegas please? No scratch tickets, mega retread, mass losers, etc? ALL GAMBLING.

    You wanna gamble gtfo of here please

    • IronBird@lemmy.world
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      1 day ago

      i hear the gambling industry as a whole is actually kind of struggling (outside of sports), as the stock market is more accessible than ever and that’s the biggest casino around really

      • OwOarchist@pawb.social
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        It’s also the only casino where the odds aren’t necessarily stacked against you.

        In every other form of gambling, it’s a statistical certainty that you’ll eventually lose money doing it. But in stock gambling, it’s possible to come out ahead in the long run.

    • jaybone@lemmy.zip
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      2 days ago

      Vegas would love that. They’ve lobbied for that for generations.

      • TIEPilot@lemmy.world
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        2 days ago

        Me too, stack the vice in one spot and regulate the hell out of it like we did before.

    • Zarobi@aussie.zone
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      1 day ago

      Can I still play gamble with your friends?

    • ThatGuy46475@lemmy.world
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      2 days ago

      No

      • TIEPilot@lemmy.world
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        2 days ago

        Then enjoy your degenerate gamblers and your state can pay for it.

  • can_you_change_your_username@fedia.io
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    2 days ago

    Ok, now make the logical connection and do non-commodity futures markets.

    • OwOarchist@pawb.social
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      1 day ago

      Hell, commodity futures as well. Or at least outlaw established markets for it. If you want to buy or sell a futures contract, you should have to write up the contract and find the buyer/seller yourself.

  • [deleted]@piefed.world
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    2 days ago

    How many years did it take the courts to end up at the most obvious result of all time?

  • Tollana1234567@lemmy.today
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    1 day ago

    and what is one of the largest base for gambling sites/ companies. right wingers.

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