Just want to reiterate that prediction markets are beneficial, because they are the most accurate way to provide us with a dynamic mechanism to predict future outcomes from complicated systems.

As was put forth in James Suroweicki’s the Wisdom of Crowds, prediction markets provide predictions that tend to be more accurate than any expert, team of experts, etc. That doesn’t mean it’s 100% accurate, but it tends to be more accurate than any other mechanism that we have.

The benefit is not that gamblers have a place to gamble, but that society has a way to gauge the risks of different outcomes and plan accordingly.