Sociopath Community

No it’s not new at all. Most notably people bet on the results of the presidential election through one of the platforms but prediction betting was at that time made illegal in the U.S. Trump is just now allowing this market in the U.S. 

edit: apparently I’m wrong prediction betting (non-sports) was not made illegal but is a gray area and the subject of much legal debate 

FYI click to expand 

Ask Google is Kalshi legal in U.S.

Turncoat said: 

What the fuck? Was this always a thing or is this just budding within the current gambler trends? 

https://polymarket.com/

 Do you want to try? Private bet between me and you, via virtual currency 

I bet Chapo goes to prison real soon.

It's called Futures. 

It's for advanced traders who keep a close eye on market trends and play off of what's obvious to them. Investment banks do this, corporations do it, and hot shot stock investors also do this. 

During the pandemic we heard about the AMC stock soaring at one point, A bunch of traders banded together to spite corporations betting against AMC stock. At the time AMC would getting destroyed from social distancing and no one going to the movie theatres. So the independent investors started buying AMC in numbers which fucked up some investment firms trading futures against AMC. Of course when AMC spiked it came right down as taking profits from a short term trade is the thing to do.  

The banks and corporations and hot shot traders also leverage trade, which I often advise against cause I don't advise hot shots. Unless it's a small amount one can afford to lose leverage trading is fine. 

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On a side note, we never see rich people complain about stuff like this, nor is investing for some the same as gambling. For people who don't understand the markets or know what they're doing, then investing in anything themselves is for sure a gamble and they'll most likely get wrecked because they're method is dicey and uncontrolled, while risk management sees fewer disasters when done with research. 

Investing involves understanding why an investment will perform well. whatever it is, while gambling is a shot in the dark.