Joe, I fully understand where you are coming from on the potential and actual societal negatives from sports betting, prediction markets and gambling as a whole. It seems as though you are calling for sports betting to be banned again. This type of thinking drives me bananas. Why is it that when some people can't handle something, many people want it banned for everybody? Some people overeat or eat less than healthy. Should we stop everyone from enjoying sweets? Some people cannot handle drinking alcohol or drink too much. Should we bring back prohibition? When do other people's decisions stop having an impact on what I am "allowed or not allowed" to do?
I don’t think sports betting should be banned. I just think it’s a good example of how a market with pretty strict regulations still has so many negative consequences and what that could mean for a similar market with virtually no regulation (prediction markets).
I think the short answer to the question of why does it need to be banned for everyone because some people can't be responsible is that the percentage of people who can't handle it or do the right thing isn't minor and the overall impact it has on society (bankruptcies, suicides, deteriorating neighborhoods/communities etc) are negatives that happen at a scale that affects everyone one way or another.
Its like saying why is there a law for seatbelts - if someone wants to not wear one and get themselves killed that is their problem. There is a cost to death and if people starting dieing at a higher rate, that would impact people who wore their seatbelts as well.
I am against seatbelt laws too. (except for those under 18) and this is from someone who wears their seatbelt. Chris, where does it end? Some folks overeat. Should we dictate to you what you can and cannot eat? The list goes on and on.
Being genuine here, what are your thoughts on the legality of hard drugs? In theory, some people can probably handle them and use them recreationally and they don’t directly impact anyone not using them (tons of indirect impact though similar to alcohol). Do you think they should be legal as well?
Joe, I fully understand where you are coming from on the potential and actual societal negatives from sports betting, prediction markets and gambling as a whole. It seems as though you are calling for sports betting to be banned again. This type of thinking drives me bananas. Why is it that when some people can't handle something, many people want it banned for everybody? Some people overeat or eat less than healthy. Should we stop everyone from enjoying sweets? Some people cannot handle drinking alcohol or drink too much. Should we bring back prohibition? When do other people's decisions stop having an impact on what I am "allowed or not allowed" to do?
I don’t think sports betting should be banned. I just think it’s a good example of how a market with pretty strict regulations still has so many negative consequences and what that could mean for a similar market with virtually no regulation (prediction markets).
I think the short answer to the question of why does it need to be banned for everyone because some people can't be responsible is that the percentage of people who can't handle it or do the right thing isn't minor and the overall impact it has on society (bankruptcies, suicides, deteriorating neighborhoods/communities etc) are negatives that happen at a scale that affects everyone one way or another.
Its like saying why is there a law for seatbelts - if someone wants to not wear one and get themselves killed that is their problem. There is a cost to death and if people starting dieing at a higher rate, that would impact people who wore their seatbelts as well.
I am against seatbelt laws too. (except for those under 18) and this is from someone who wears their seatbelt. Chris, where does it end? Some folks overeat. Should we dictate to you what you can and cannot eat? The list goes on and on.
Being genuine here, what are your thoughts on the legality of hard drugs? In theory, some people can probably handle them and use them recreationally and they don’t directly impact anyone not using them (tons of indirect impact though similar to alcohol). Do you think they should be legal as well?
Freedom with risk is not the same as freedom without agency