They're not like prediction markets. They do exactly what GP says they do: if you win, you effectively get banned (max bet sizes shrunk toward $0). If you suck, they do the reverse and expand your max bet sizes and offer you loans.
These things are so unfathomably antisocial that I earnestly believe every single politician who advances them should be (journalistically) investigated as extensively as is legally possible.
These things are so unfathomably antisocial that I earnestly believe every single politician who advances them should be (journalistically) investigated as extensively as is legally possible.