I think crypto markets can’t be regulated except by random moderators’ filtering on bets and betters’ choices of where to put money. It seems someone could put a million dollars against a terrorist attack on a certain date and hope someone bets against it & executes to get the money. So a betting market allows hiring for certain tasks (not most tasks) with reliable verification & payout, and you get your money back if it doesn’t happen. I have some faith in moderators’ filters, though. I hope they would have the wisdom to forbid bets on terrorist attacks, assassinations, etc. Insider trading cannot be prevented (as far as I can tell) if betting is anonymous…
I think crypto markets can’t be regulated except by random moderators’ filtering on bets and betters’ choices of where to put money. It seems someone could put a million dollars against a terrorist attack on a certain date and hope someone bets against it & executes to get the money. So a betting market allows hiring for certain tasks (not most tasks) with reliable verification & payout, and you get your money back if it doesn’t happen. I have some faith in moderators’ filters, though. I hope they would have the wisdom to forbid bets on terrorist attacks, assassinations, etc. Insider trading cannot be prevented (as far as I can tell) if betting is anonymous…