Why do we need to allow prediction markets like this at all? It's just gambling dressed up as though it was a stock market. It's just horse racing at a massive scale... except for the hyperstition factor of it actually influencing world events. At least one can pretend, with the regular stock market, that one is investing in the success of a company; though we all know we're a long way from that.
There seems to be no prosocial reason for this whatsoever.
There seems to be no prosocial reason for this whatsoever.