My hot take is that prediction markets are pure gambling – worse than memecoins – and I don't think normalizing them is good for society

seeker /native /believein /bedrock 🇵🇸

you're buying an asset: the outcome from some event. 

would you also categorize derivatives like options as pure gambling as well?

do you think the output from the market (the % chance) is useful to society?

no, derivatives serve a unique economic purpose for both individual companies and the market at large

information markets generally reflect information that is either (1) societally inconsequential, or (2) consequential enough that it would be reflected in a larger, more liquid market (i.e. crypto markets spiking when it became clear Trump would win)

the output from a prediction market might be useful in some cases, but the harms (excessive, non-productive gambling) outweigh