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Most Prediction Market Traders Are Losing Money While Bots Rack Up Gains | Data from millions of accounts shows that trading and profits are dominated by a tiny slice of highly active accounts. (www.bloomberg.com)
submitted 2 days ago by silence7@slrpnk.net to c/technology@lemmy.world
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[-] inari@piefed.zip 55 points 2 days ago* (last edited 2 days ago)

People losing money from betting? Who woulda thunk?

[-] dan1101@lemmy.world 10 points 1 day ago* (last edited 1 day ago)

Yep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.

[-] Lost_My_Mind@lemmy.world 21 points 2 days ago

I think the fact that bots are winning makes this whole thing a scam.

[-] dou9m@lemmy.ca 26 points 2 days ago

They could have no bots at all and it would still be an obvious scam lmao.

[-] Akasazh@lemmy.world 12 points 2 days ago

Gambling is literally a scam. A very addictive one too

[-] IronBird@lemmy.world 7 points 2 days ago

the real $ in prediction markets (unless you have inside info) is in knowing how to arbitrage a spread, making a bot to do so is pretty straitforward.

that's how the majority of the stock market works as well, the biggest casino in town.

[-] silence7@slrpnk.net 2 points 2 days ago

Not an unexpected outcome, but it's notably worse than with classic casino gambling because of the always-available model those firms have.

[-] Tollana1234567@lemmy.today 1 points 2 days ago* (last edited 2 days ago)

gamblers losing money like degenerates, saying it aint so?

[-] MedicPigBabySaver@lemmy.world 3 points 1 day ago

I liked: Last Week with John Oliver episode on these scam sites.

Just another straight up Scam by scumbags that lie and make up stories IN PLAIN SIGHT!

[-] CapuccinoCoretto@lemmy.world 3 points 1 day ago* (last edited 1 day ago)

I still can't believe prediction markets exist. Every bet requires a counterparty and information asymetry means its not a market, its a killing field going up against rigged bets just like this.

Billie, you're a genius

Enough to be a fool

A fool to gamble everything

And never know the rules

Some of us can only live

In songs of love and trouble

Some of us can only live in bubbles

  • The Magnetic Fields - My only friend
[-] SaharaMaleikuhm@feddit.org 4 points 2 days ago

What is this bs website? I get the article on half my screen. I am not reading that shit

this post was submitted on 29 Apr 2026
152 points (98.1% liked)

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