Online (foreign based, read: tax and regulation havens) gambling casinos are flooding the social media feeds of children with AI slop or memes that have their logo/branding slapped on it. They are posting thousands of videos per day, trying to get kids to gamble on their casinos. Who are behind? The owners of gaming communities/e-sport brands like FaZe Clan etc. Basically, if you were a large youtuber in the 2010's, the goto seems to be get in on some kind of online gambling site for kids.

The marketing is what bothers me the most. These books market very aggressively in app: Take Daves 5 leg parlay; Share your picks! 30% profit boost if you do a 4 leg parlay that'll never hit. Its constant engagement. Contrast this to a real bookie: Open app. Place bet. Meet once a week in parking lot. Small chatter. Pass envelope.

Many people just think certain things in history were outlawed because of 'stupid religious people'. Most of the time there's genuine reasons for banning things even if they weren't perfect or brought other harms with them. Something like usury was banned in Islam, Christianity and Judaism, and it wasn't because people prior to 1900 were imbeciles, these things can cause immense instability.

I feel like this is worse then gambling even, because it's not only luck. You can actually influence an outcome without cheating, hence credible deaths threats

Getting death threats from aggrieved gamblers, MLB players starting to fear for their safety

https://www.usatoday.com/story/sports/mlb/columnist/bob-nigh...

This is insane. And I'm sure he doesn't want to hire bodyguards just for that. I hope he get over with it eventually.

Still happens at all levels of professional sport. Even the top women get messages on their IG accounts all the time by degenerate gamblers pissed off after a loss.

Ugh, the sophistry (or at least self-deceiving arguments) people throw around to defend these markets makes my stomach churn.

I don't know, man, looks like we are now literally gambling on whether people die today or tomorrow. This is even worse than underground sports gambling.

Yeah, that claim was always ludicrous to me too. Wisdom-of-crowds isn’t an unbiased decision making strategy, it’s quite biased. Crowd-wisdom works best as a limiter on the bias of other decision making strategies—this is why democracies use representatives rather than direct votes for most decisions.

And polymarket isn’t even the wisdom of crowds lol. At its greatest possible adoption it’s still the wisdom of internet-connected (mostly) white men with time and money to spend on gambling.

Reply of the year. I'm not sure if I'm supposed to laugh or cry.

The question isn't whether futarchy isn't perfect, it's whether its better than our existing democracy.

It's true but it's just revealing what Wall Street et al have been up to for the past several decades. There's this perception that they're all doing Very Important Work(tm), when in fact they're just making up silly rules and playing games with each other, aka gambling.

I do not know about daytrading, but trading in the long term works, if you have a (technical/IT) system.

Regarding meme stocks: I do not see how this should work compared to the "real market", as on the real market you have clear signals when it is useful to enter a position (e.g. institutional attention), but on the meme "stock" market lacking those features it is much much harder to make any money - unfortunately, a lot of young people are trying their fortuna

Commodities futures markets have an actual purpose, which is to make business inputs (or outputs) more predictable. Like if I know I need ten tons of corn next year, it's safer to buy futures now than to wait and see how the price of corn fluctuates over that time, potentially sabotaging my business operation. (Of making corn chips.)

Do we typically [0] have a problem with people sabotaging industries to manipulate the futures market?

[0] Edit: Originally wrote "currently", but then I remembered the current White House, whose various crimes are being studiously ignored by the Republican congress.