Comment on Insider trading, but make it worse
cheesybuddha@lemmy.world 4 days ago
Well yea, is it not blatantly obvious to everyone that bad actors will use this “bet on anything” bullshit to grift the system?
I’m certain the people who run the websites know this and don’t give a shit, because it’s profitable.
You can’t really stop it when you make a decentralized platform like that.
It’s like saying we made cash and we knew people would fund terrorism with it but oh well.
A decentralized betting platform has benefits. It also has detriments.
Any website involved is really just a front end. It’s on the blockchain and can be used regardless of website, but the website definitely makes it easier to use.
Grifting and and inequality is a baked in part of capitalism. I don’t think you can get around it without fundamentally shifting your approach to money
Also worth adding…
If the owners do have a way to prevent something, and that was ever compromised (e.g arrested by FBI) and someone was able to just prevent all bets, absolutely nothing is stopping someone else from copying the contracts, removing that ability, and re uploading it.
IndustryStandard@lemmy.world 4 days ago
The weird thing is that it provides OPSEC to US opponents. Simply watch polymarket for a yolo bet
ronl2k@lemmy.world 4 days ago
This is the most important comment on the issue. It’s pretty much giving US secrets away ahead of time.