alt Hacker NewsPrediction markets are 100% gambling. It's just synonym acrobatics.
I say this as someone who had a lot of fun GAMBLING during the World Cup.
Prediction markets are 100% gambling. It's just synonym acrobatics.
I say this as someone who had a lot of fun GAMBLING during the World Cup.
Not 100%
In certain cases you can use information asymmetry to your advantage. You know something they don't. A good example is any market dependent on public opinion surveys (eg political polling). That data can be hard to find. If you can find it faster than everybody else then you win more often. There is still some chance involved but it's more like poker than blackjack (not a great analogy but you get my drift).