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You’re describing half of the entire FIRE sector, which is like 2x as big as it should be. Finance should be a symbiont with the rest of the economy; instead, it’s a parasite.

Lol there's only one director on the CFTC at the moment...I'm pretty sure that's intentional and why these things -Kalshi and Polymarket- that shouldn't seem like they should exist are allowed to exist www.cftc.gov/About/Commis...

Finally reading 1929 by Sorkin. This is haunting how close this mirrors today. Constant theme in my mind is that the SEC would not have allowed this (they did not exist then) but now how they DGAF now.

There’s a saved by the bell about this tbh Zack & screech get into trouble buying stock

I have been! It's fantastic. One of my best memories.

we're just vibe-economying now huh. vibes-based economy

We're gonna need Second Prohibition to break this

Or acts of violence/disruption. Let's say you're desperate and trying to get out of a hole. Can you manipulate a market by doing something drastic? That's one of the biggest concerns about the ethics of prediction markets.

"Social murder" certainly gets thrown around a lot, but this might be the clearest-cut example available.

it seems like a slam dunk thing for democrats to do. heck, make it bipartisan.

Because our government is shit and those who are left to do their jobs don't want to do them.

It pretends to be investment trading, most brokerage accounts include some form of leveraged trading. There’s been a number of suicides related to RobinHood (though IIRC more because of naked shorts).

There will be murders

Broken legs way up

Are there any regulators left? I assumed the entire federal government is just lobbyists who have Kushner’s number or people who can get Laura Loomer to whisper something to Trump while she’s jerking him off.

Can’t think of a worse idea. Maybe they should hand out revolvers with each leveraged bet?

Good grief 🤢

Hmm… I don know, they really are pushing it hard. TBF, so do traditional brokerage accounts.

Gonna be like a Guy Ritchie film