Comment Re:Why are people calling these things âoepre (Score 1) 46
They're not gambling if you have a real-world stake in an outcome addressed by one of these markets.
That definition is bonkers. If I gamble in a casino, I have a real-world stake in an outcome. If I turn to my neighbour and make a side bet about the outcome of my primary bet, it doesn't become insurance, it's just another bet.
Secondly, calling them markets seriously is also bonkers. They are full of insider traders and professional quants who take most of the money from stupid college kids who are desperately worried about their future employment prospects. These are markets in name only, and you're falling for it.
Thirdly, Kalshi and Polymarket both make side deals with the large finance companies for billion dollar investments. The product is you. Well, your money, they don't care about you. Jane Street is the top performer in this space and has repeatedly been found guilty of insider trading and market shenanigans all over the world. Good luck hedging your "real-world stakes" against those guys.