1221
Insider trading, but make it worse (thelemmy.club)
submitted 1 month ago by andros_rex@lemmy.world to c/aboringdystopia@lemmy.world
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[-] Greddan@feddit.org 183 points 1 month ago

Oh no! Not my unregulated degenerate gambling!

[-] ZoteTheMighty@lemmy.zip 174 points 1 month ago

I'm willing go bet a lot of people making weird bets like this are doing the equivalent of insider trading. The whole concept of betting on random news is ripe for the opportunity for people with insider knowledge to always win big off of the losses of gambling addicts.

[-] plyth@feddit.org 73 points 1 month ago

That's the point of those platforms, to bribe the people with that knowledge to reveal it.

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[-] bdonvr 32 points 1 month ago

Yeah unlike sports where at least the games are ostensibly fair, heavily scrutinized, and managed by organizations that try to stop this. Even then it still happens sometimes.

This system is just completely unenforceable insanity.

[-] cheesybuddha@lemmy.world 11 points 1 month ago

Of course it is and the creators know that. But it's profitable

[-] Mulligrubs@lemmy.world 99 points 1 month ago* (last edited 1 month ago)

This is the least of it. Representatives entire families are set for life. Somehow, everybody in their family gets stinking rich after election, and their book is always a "NYTimes best seller" because they are bought by the campaign (and dumped in a landfill), insider trading is rampant, super-PACs.

I'm okay with someone in the military picking up some extra cash. Family has to eat, whether government is "shut down" or not. I hope it was some smart ass buck private.

In the USA politics is the number three easiest way to achieve "financial security", only inheritors and prosperity gospel preachers have it easier.

[-] Serinus@lemmy.world 17 points 1 month ago

It's not fucking military leaking unless they came in with Drunk Pete Hegseth.

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[-] huquad@lemmy.ml 95 points 1 month ago

400k seems relatively low for the usual scum. Could be a lower rank military personnel, or a staffer.

[-] Transform2942@lemmy.ml 15 points 1 month ago

Yeah, the bet was only 32k. Honestly surprising more people didn't have this idea

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[-] Walk_blesseD@piefed.blahaj.zone 74 points 1 month ago

Can we all go on polymarket and start a betting pool that Peter Thiel will not be violently assassinated by the end of the year?

[-] bunchberry@lemmy.world 44 points 1 month ago

Bad people don't die. The more evil you absorb the longer you live. Like Kissinger living to 100.

[-] SoleInvictus@lemmy.blahaj.zone 18 points 1 month ago

I suspect it's the lack of stress due to being a sociopath. Not caring about others has to make life pretty easy in some respects.

[-] UnderpantsWeevil@lemmy.world 12 points 1 month ago

Bad people don’t die

Selection bias. Bad people die all the time, and then we forget about them (or never learn about them) because they stop being in the spotlight.

Nobody talks about the Koch Brothers or the Waltons anymore, as they've degraded to irrelevance. Nobody talks about the Carnegies or Fords or Hoovers anymore, for the same reason.

Steve Jobs was an evil fuck and he's gone now, so he's off the radar.

Meanwhile, nobody had Lucky Palmer pegged as a sociopath ten years ago and now he's doing James Bond Villain tier war crimes.

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[-] Noite_Etion@lemmy.world 60 points 1 month ago* (last edited 1 month ago)

When there is no punishment, the system must be working perfectly.

[-] randoot@lemmy.world 59 points 1 month ago

You have to be an idiot to gamble at these sites. I already feel like an idiot for having money in the stock market with all the insider trading, but thanks to inflation you're fucked if you do and fucked if you don't.

[-] Teppichbrand@feddit.org 31 points 1 month ago

The stock market is a global suicide machine, change my mind

[-] nandeEbisu@lemmy.world 22 points 1 month ago

It's a ponzi scheme supporting millions of people's retirements, myself included.

Ideally we have social security, which is a much more regulated and carefully managed ponzi scheme but the people in power use it like a piggy bank because it's not like they're going to be around when it runs dry.

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[-] RememberTheApollo_@lemmy.world 56 points 1 month ago

TIL there’s a website where anyone can bet on anything.

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[-] cheesybuddha@lemmy.world 46 points 1 month ago

Well yea, is it not blatantly obvious to everyone that bad actors will use this "bet on anything" bullshit to grift the system?

I'm certain the people who run the websites know this and don't give a shit, because it's profitable.

[-] IndustryStandard@lemmy.world 22 points 1 month ago

The weird thing is that it provides OPSEC to US opponents. Simply watch polymarket for a yolo bet

[-] ronl2k@lemmy.world 14 points 1 month ago

This is the most important comment on the issue. It's pretty much giving US secrets away ahead of time.

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[-] thedeadwalking4242@lemmy.world 44 points 1 month ago

How is this legal

[-] OshagHennessey@lemmy.world 38 points 1 month ago

Crime is legal now

[-] thedeadwalking4242@lemmy.world 16 points 1 month ago

I hate that I was primed for a world with rules when there are none.

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[-] MoffKalast@lemmy.world 14 points 1 month ago

Always has been if you're rich.

[-] OsrsNeedsF2P@lemmy.ml 24 points 1 month ago

The real answer is nuanced, but a combination of "it wasn't, until bribary", "enforcement is difficult", "it's built to be nuanced around regulation", "it depends where", and "it's decentralized"

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[-] palmtrees2309@lemmy.world 41 points 1 month ago

Polymarket, Kalshi and others are Insider trading systems camoflauged as a "Truth Seeker" but at the end, It is a gamble even worse than a gambling casino. The insider trader has a incentive to stack odds against oneself and "beat" a better likelihood in the market. Even as a truth finder, It works at the last second before the actual reveal.

[-] deHaga@feddit.uk 12 points 1 month ago

Corrupt politicians are corrupt. More at 11.

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[-] TheEighthDoctor@lemmy.zip 36 points 1 month ago

My question is what are the other predictions

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[-] asg101@lemmy.blahaj.zone 29 points 1 month ago

I still want to know who made $$millions shorting American and United Airlines before 9/11.

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[-] homoludens@feddit.org 21 points 1 month ago

The obvious question is: what other bets did they make? (though those may of course be decoys)

[-] MuskyMelon@lemmy.world 20 points 1 month ago

Barron is doing this shit.

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[-] fox2263@lemmy.world 18 points 1 month ago

How does one bet on random things like this. What’s the website? I have a few predictions of my own…

[-] SpaceNoodle@lemmy.world 12 points 1 month ago

So goodbye to your money for me

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this post was submitted on 04 Jan 2026
1221 points (99.4% liked)

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