Prohibition just drives vices into a black market. In this case, probably just with VPNs to offshore betting markets where users would have less legal recourse. Nobody ever regulated insider trading in gambling _until_ the CFTC started authorising predictions markets.
The stock market should be illegal too. The stock market is just a prediction market at this point. What value does it create?
> The stock market is just a prediction market at this point.
Not really. But I can get your point.
There's manipulation going on, but if you fight that, why do you feel that prediction markets should be illegal?