New Senate bill would ban prediction markets on sports, politics and military

It'll happen right after we ban prediction markets for business, which is the stock market, so yeah never

Something something party before country something wealth before party.

Notice how there's zero pushback about Trump's family making vast amounts of wealth yet it Biden did anything like this they'd move in lockstep and screech from the rooftops about corruption. There is no saving the Republican party and the fact they're so open with overwhelming corruption should be investigated heavily once non cult members are in control again

> I think banning prediction markets rather than just prosecuting federal employees trading on state secrets kinda misses the point of the social issue we're trying to solve. The social issue we're trying to solve is the prevalence of gambling in this country

Spoken like someone who hasn't stuck their head outside since 2018. The casinification of the entire US economy is an absolute cancer on the country and another weapon of violent class warfare against the working class who are the ones most devastated by it.

Why not both options?

Both need to be done.

Because we have regulated sports betting markets already.

because gambling is terrible for sports??? do you enjoy betting on NBA games that players and coaches are scamming bettors on??? because the chauncy billups thing will continue to become way more common LOL

> is on the record saying that it's not insider trading. It's information. It would be awesome if you could post a link to that. It is evidence of insider trading. The "insider" part of "insider trading," IS insider *information*.

People are insider trading on the war making billion dollar bets minutes before major war announcements. This bill addresses this obvious and sickening form of open government corruption.

I find it funny how I’ve never seen a Redditor correctly spell Kalashi

Gambling needs to be a physically in person thing.

But people gamble on their phones now. You can literally throw away money while taking a shit. Wash your money and poopoo down the toilet

Then why can't I smoke weed? Why does this fReE cOuNtRy never apply for helping people and only apply to keep harmful industries afloat? Were we not free before these recent floodgates opened? We made it a long time with gambling requiring a physical place and regulations. Why is it the freedom to ruin lives gambling and not our opportunity to have freedom from gambling addiction? I swear people have soundbyte worldviews, a phrase with 3.8 billion Google result entries is the best we can do? Freedom doesn't mean anarchy - it definitionally can't! You cannot have full freedom because that necessarily infringes on my freedom. If your industry is psychological tricks to vulnerable people that siphons their money how is that freedom? The Sackler family intentionally hooked people on meds they knew people didn't need but they knew were highly addictive. They made billions off of this and that opioid crisis STILL ravages us to this day. Why do corporations get to be so free but we the actual people are forced to have our freedom to not be addicted to drugs stripped from us? Gambling companies can have the freedom to use the same extremely addictive tools to hack brains for money but we the people can't freely decide that this shit ruins families, ruins people, and all it does it take people's money? We decided you can't just kill people or steal other people's belongings because those freedoms are a net negative and actively harmful to society. We know gambling, ESPECIALLY UNFETTERED ACCESS 24/7 ON THE MAGIC RECTANGLE GAMBLING, is extremely harmful and is sucking BILLIONS from people now. If we truly have any freedom it should be the freedom to stand up to this harm to our community and say #***F*** this, we're going down a different path***

Yeah? Then why can't I get an abortion?

Insurance isn't gambling, it's the opposite. It's hedging. And it's not addictive -- there's not a help line for insurance addicts. 

You’re welcome to take yourself out of the insurance pool

Dumb f****** take.

No, that's risk.

Considering how most insurances are widely despised, I’m not sure the comparison is really helpful to your point. We should live in a society where you don’t _need_ insurance (who will fight tooth and nail to not give you anything) because our safety nets are so robust.

I'm okay with that as long as there is an acceptable level of government assistance available. It would make a lot of sense to have all the money that currently goes to home insurance instead go to a government fund to assist with everything home insurance currently covers. We could cover all the same expenses at a lower cost if we cut out the people making a profit off of it.

We saw how that worked for alcohol

So why not also decriminalize hard drugs, then?

Should that apply to ketamine, opioids, bathtub gin, and moonshine, too?

Hahahahahaha....I'll believe it when I see it. Congress can't even contain themselves enough to stop insider trading amongst themselves. I believe it was last banned after the 2008 financial fiasco, and covered widely in the news. Then they quietly gave it back to themselves in 2010.

Maybe I worded my response poorly, but that's what I'm trying to say. Congress banning this, but refusing to ban stock trading for themselves is giving a conflicting message.

The “everything is equally bad, so it’s not worth caring about anything” mentality has been incredibly toxic for American politics. 

Wow. Thanks for the explanation. I generally avoid gambling outside of a friendly bet or two and didn't really know the depths to which it went. I can see how it could influence people to try to manipulate the events they are betting on.