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Why isn't Polymarket a darknet site that runs on Monero? Why is it run by that kid with the afro? What does he add to it? Expertise in making CRUD slop? Did he make the decision to do this? All of it seems so poorly done and thought out. The economy is fake; people will literally do anything but meritocracy.
Because it wants to be a successful business that could eventually make lots of money for the owners.
He is the founder, he created it. He is the world's youngest self-made billionaire so clearly he's added a lot.
It's possible he personally did, but he might not be that directly involved in most individual markets either. Even if he did personally sign on it, he has a bunch of lawyers and management types advising him as well so maybe he felt it would cause too much legal hassle (refer back to them wanting to be a successful business).
Circular argument. Was it necessary to line his pockets? What good comes of it? I doubt it.
Right. Instead of a good website that can run honest prediction markets. Great.
Just because you don't see a value doesn't mean there isn't one. I don't care about going to concerts but I can understand that other people do and that's why the industry makes tons of money off of it. I don't like soccer, but I understand that lots of the world does and that's why they make tons of money.
This might be shocking to learn but people generally like to have money. And most things in the world get done because people want money to trade with, not just to do "good honest work".
So greedy people who like to scam instead of doing quality work and letting money come along?
Circular argument. If anyone makes money, it's legitimate. What about Bernie Madoff? Geez.
If anyone makes money, by providing a service that clearly has both utility and high demand, it's legitimate
Bernie Madoff was not providing a service, Polymarket is
Gambling has no utility.
But prediction markets are a non-central case of gambling. They offer information into the external world. Hence, there are concerns about insider trading and leaking of secrets.
The issue is that the exotic markets are a small and dwindling portion of turnover
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