It’s sad that something based on the Wisdom of Crowds by James Surowiecki is being politicized as gambling. It’s crucial that we have prediction markets so that we can better understand the risks of things happening in our world.
1. We do have prediction markets -- Kalshi, IB, and Robinhood all offered binary options contracts on election outcomes this year.
2. A ton of options trading is gambling, and binary options on events particularly so. Doesn't mean it should be illegal, of course, but I think that's just a facially obvious truth that we should all be honest with one another about.
