Election wagers have long been banned in the United States. But for a brief period on Thursday, a regulated prediction market was permitted to offer them to Americans.
I think it probably should be illegal. My first thought hearing it was a thing was that you could easily mass buy votes this way.
If I’m running for election I just funnel unlimited money from interest groups into the bet against me regardless of odds, creating a financial incentive for individuals to bet for me. People are now directly financially enriched by third parties if I win, and are thusly incentivized to vote for me.
I think it probably should be illegal. My first thought hearing it was a thing was that you could easily mass buy votes this way.
If I’m running for election I just funnel unlimited money from interest groups into the bet against me regardless of odds, creating a financial incentive for individuals to bet for me. People are now directly financially enriched by third parties if I win, and are thusly incentivized to vote for me.