It's stupid gambling, nothing more and nothing less. Sports gambling is at all-time highs, also, because people have money to waste and haven't faced consequences for their poor decision making. When people have less money - and understand, this is imminent, at least in the US - they'll have less ability to stupidly waste the money they have.
Prediction markets have gotten attention lately because it's so easy to manipulate them with small amounts of money and get signal amplified in subsequent reporting of the prediction markets "counterintuitive" signals. It is a form of reality shaping.
To that extent, they'll continue to exist, with just sock-puppet level activity until they are ignored.
Prediction markets have gotten attention lately because it's so easy to manipulate them with small amounts of money and get signal amplified in subsequent reporting of the prediction markets "counterintuitive" signals. It is a form of reality shaping.
To that extent, they'll continue to exist, with just sock-puppet level activity until they are ignored.