A new Polymarket account bet $30K on Maduro's capture just hours before Trump's announcement, renewing questions on insider information in prediction markets

8 months ago by noumenon to c/world

The winnings come as the rules governing prediction markets are still evolving.
AstaKask 98 points 8 months ago

Prediction markets? It's called online gambling.

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henfredemars 56 points 8 months ago

It's not gambling for insiders.

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barnaclebutt 24 points 8 months ago

Why the fuck would they pay out on such obvious Insider information?

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AstaKask 22 points 8 months ago

Because these sites are grifts used to scam people with gambling addiction and launder money for criminals.

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Anivia 18 points 8 months ago

Because they profit off the insider bets, and not paying out would make their users distrust them. Or are you expecting a gambling platform to put morals above profit?

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MonkeMischief 3 points 8 months ago

It kinda makes me wonder if they'd actually nullify the assassin loophole.

Bet big that target won't do a thing they're definitely going to do. Assassinate them before they do it, collect the gamble bounty.

(Allegedly one of the services has nullified one of these before, even though it was coincidental)

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NatakuNox 4 points 8 months ago

It's called loser behavior. We've gone full Idiocracy but somehow unfunny. People are gambling on legitimately horrible things. Can't wait until the prediction market gets to gamble on Gaza city home to get blown up. You can play the over/under on the number of children orphaned in every strike.

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Worx 58 points 8 months ago

Why the fuck are we betting on a country being invaded and a person being kidnapped anyway? Some people are sick

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P1k1e 20 points 8 months ago

Well gambling is a disease so....... Your right

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moakley 4 points 7 months ago

Your right

... to gamble is absolute?

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shalafi 44 points 8 months ago

https://archive.ph/...

Comments here missing the obvious: Thousands of military personnel were involved in this action. Closer you get to seeing boots on the move, more obvious the mission.

Never served, but I'd guess military scuttlebutt is tighter than gossip in a megacorp, yet, thousands involved.

Say you're working the carrier flight line, you know what's launching, who's boarding what aircraft and the sorts of work those boys do.

"Huh. Boss talking shit, close in on Caracas, fighters launched with bombs, more with air defense measures, all headed south. Ain't that a thing? And here come two teams of badasses outfitted for night work packing handcuffs*, riding them blacked-out Black Hawks, even left room for passengers! Wonder what's going on tonight? Cover me? Gotta hit the head. <furious typing to move funds and login to Polymarket>"

Obviously pulling that out my ass, but you get the idea.

* My kinda gig!

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CrackedLinuxISO 2 points 7 months ago

Protos reporting on the bet indicates that this unknown person had been building a position since December. The list of people who knew so far in advance must be smaller.

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BigTurkeyLove 40 points 8 months ago

There is a market/betting website for this stuff... what the actual fuck? Just another day another step further in dystopia

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Witchfire 16 points 8 months ago

CNN just partnered with it if I'm not mistaken

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duckythescientist 22 points 8 months ago

You are half mistaken. CNN partnered with Kalshi not Polymarket, but they are similar companies.

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Witchfire 11 points 8 months ago

Meme

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Iceblade02 9 points 8 months ago

You can bet on basically everything somewhere. The betting market is the way to go if you want real odds of what's happening tomorrow. They have a financial incentive to be accurate (half-joking).

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Drusas 3 points 8 months ago

Apparently more than one and they're for betting on a variety of topics

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parzival 2 points 8 months ago

Polymarket is a website that lets user bet on anything

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gustofwind 35 points 8 months ago

Gambling should just be illegal again šŸ™„

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Mulligrubs 0 points 8 months ago

Great idea, we'll get a new mafia that runs illegal gambling from street to championship level.

You either have an illegal but very popular activity run by "the black market", or a legal but very popular activity run by the government and capitalists. The market doesn't go away

Either way, with a market this massive, the profits are insane. This would be much bigger than the drug trade, gambling is the very easiest and most popular of such "sinful" activities.

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bob_lemon 10 points 8 months ago

True.

Although the main reason for legal gambling is that it allows for regulation. And I cannot see any of that being done at the moment.

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thelivefive 5 points 8 months ago

I dunno. If I think about how many of my friends were sports betting 15 years ago vs today it's at least 10x today. I feel like that was caused by market availability not a change in demand. They would've always bet if it was this easy to do and if it becomes hard again they'll stop.

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Mulligrubs 1 point 7 months ago

Your friends need to control themselves, gambling is as old as humanity itself. Smart phones have made just about EVERYTHING easier. They can outspend their budget and go broke, gamble and go broke, get a fresh date every day and go broke, and so on.

When you make it "against the law", that means people will serve time for gambling, where they will be sent to prison, and guess what they do in prison to pass the time? Gambling. Even if there is no prison for the "crime", they'll still be fined and guess what? Go broke.

That's the system. Removing gambling from the equation, addiction will still be a problem for them, because they're addicts.

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webadict 4 points 7 months ago

You know you can make gambling against the law by going after the brokers and not the betters, right? Gambling destroys lives and pretending that legalization is the only thing stopping black market gambling is brain dead.

It's telling that you blame control for why more people are betting because anyone that studies addiction would tell you you're a fucking moron, and I think you should remind yourself of that fact on an hourly basis, because you have only one idea for banning gambling. Consider that banning gambling by going after brokers is going after those that profit from the whole thing, and you'll realize that, woah, it will have a positive effect.

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prole 24 points 8 months ago

It's insane how easy it is for people in positions of power to game this shit. Unbelievable

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gezero 21 points 8 months ago

I thought the purpose of the markets is to financially motivate leaks of information early...

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edgemaster72 12 points 8 months ago

This is why Trump didn't notify Congress ahead of time, he didn't want them insider betting with that information

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NOT_RICK 11 points 8 months ago

Well yeah, he didn’t want them fucking up his 30k bet

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Doomsider 2 points 7 months ago

He said he called and spoke with petroleum companies. I know his mind is mush, but he basically said he consulted with private oil corporations about this attack but didn't tell Congress.

The fact that every representative isn't drawing up impeachment articles right now speaks volumes about the corruption that is allowing this to happen.

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TankovayaDiviziya 6 points 8 months ago

That's a bold bet if Maduro escaped capture. But the fact that this bet got media attention after Maduro was captured means this is more like a brag.

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prole 2 points 8 months ago

Is it though? 30k is nothing to these people

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TankovayaDiviziya 4 points 8 months ago

We don't know who made the bet. But it is not uncommon for ordinary people to make that huge of a bet. I heard of someone who lost his house after using it as collateral for stock trading.

Edit: a word

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prole 1 point 8 months ago

That's kind of my point

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TankovayaDiviziya 1 point 8 months ago

I just realised my incorrect wording. I meant it is not uncommon for ordinary folks to bet their entire life savings and even home.

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Philharmonic3 5 points 8 months ago

It's over for humanity, I swear

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