When I saw Ratsphere types pushing these kinds of markets years ago getting insider information was the primary selling point.
It’s not inherently stupid - I’d much rather that some lowly analyst sell out an impending stock hit for a few grand than well-positioned insiders soak the market for 10,000x that. There’s obvious moral hazards, though.
It’s not inherently stupid - I’d much rather that some lowly analyst sell out an impending stock hit for a few grand than well-positioned insiders soak the market for 10,000x that. There’s obvious moral hazards, though.