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    Minnesota becomes first state to ban prediction markets
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    Minnesota becomes first state to ban prediction markets

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    34 Comments

    1. B-Z_B-S on

      >~~prediction markets~~

      AKA *gambling sites* that want to be called something other than gambling sites for optics and tax reasons.

    2. Historical_Bend_2629 on

      Good for them. Something that also could be banned from states with bipartisan legislation is gambling (usually sports betting) from a phone. Ruining people to make money for a few.

    3. TimothyMimeslayer on

      Kalshi is stupid, the stock market is regulated by the SEC, are they demanding that prediction markets get similar regulation and the taxes to pay for it?

    4. Adventurous-Tone-311 on

      GOOD.

      So tired of these stupid sites being thrown at me. You can’t watch any sports or half of TV without having to hear these dumb ads.

    6. thehod81 on

      Prediction markets should be barred from certain bets due to national security concerns

    7. ireaditonwikipedia on

      Gambling is an absolute bane. The sooner this predatory shit gets banned the better. 

    11. mowotlarx on

      It’s hard to fathom that in just a few years we have allowed and normalized public betting on *election outcomes* from local to federal races. It’s unbelievable.

    13. AtomicBlastCandy on

      As someone with a father that used to be addicted to gambling I hate how fucking prevalent ads are. I’ve told my mom to check his phone every once in a while to see if he’s downloaded any apps for it as he’s stayed away from casinos for years and we don’t want him to backslide.

    15. jasonp55 on

      I want to get ahead of a confusing line in the article that makes it sound like Minnesota also banned VPNs. That’s not what the line means, it just means that the law says it is illegal to use a VPN to try and get around the law. This is already the case in Minnesota for using VPNs to try and circumvent other laws related to gambling. This law isn’t a threat to the existence of VPNs.

    17. Sir-Bruncvik on

      I’ve never understood prediction markets. You can trade on what you THINK is going to happen? How is that anything of value? Maybe I’m just stupid, but I don’t get it 🤷🏻‍♂️

    18. VonSkullenheim on

      This should have never been legal in the first place. They already make you use crypto to fund bets cause they know its dicey/illegal to use actual dollars/banks/CC/etc.

    19. Deceptiveideas on

      Legalizing the ads honestly did a lot of damage. Seems like you can’t go 5 seconds without someone promising you to make thousands right from your phone.

    25. NotAChanceBucko on

      It’s gambling . insider trading . Scamming. All are interchangeable with prediction markets

    27. Leedeegan1 on

      Good. Gambling on elections and real world events is a terrible idea. Too much potential for corruption.

    30. Adulations on

      We need to ban all gambling. That supreme court decision is ruining lives.

    31. brasswirebrush on

      > Bettors on the sites are making billions of dollars in trades every week, even as…markets can create perverse incentives for people to manipulate real world outcomes

      The last paragraph gets to the heart of it. Betting on sports, or the weather, or something else benign is one thing. Betting on things that have real world negative impacts, where people stand to make a lot of money and can potentially manipulate the results, is a recipe for disaster where people become highly incentivized to encourage negative outcomes.

    32. tgwombat on

      Time to rebrand gambling again.

      Come on down to the Minnesota Guessing Bazaar!

    33. sockpuppethunt on

      Good for Minnesota. They are predatory on the worst way, and the “gamification” of every aspect of life is beyond toxic.