Discourse is more constructive than throwing money around, which only the wealthy can afford, or dueling, which only a few are skilled at
Both plutocracy and violence are abhorrent in a modern, civilised society, except wealth often follows from privilege, while dueling is meritocratic
Not to mention, society is not about an egotist fantasy about who is "right" or "wrong" - it's about finding truth before it's too late. There's absolutely zero value to society if a billionaire swept up a prediction market for nuclear apocalypse, there's infinite value for all of us to come together and discuss how we can best prevent that outcome. (Same goes for positive outcomes.)
Betting markets aka prediction markets are useful for what they do - betting.
(Side-note: "personal consequence" would be partially true if betting markets had "wealth-adjusted risk", e.g. for a billionaire throwing $1M into a bet is nothing; for the average person, $1M is impossible.) 5 replies
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