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Prediction Markets and The Ethics of Betting on Bad News
Summary by thedailyeconomy.org
1 Articles
1 Articles
Prediction Markets and The Ethics of Betting on Bad News
Prediction markets seem to be everywhere these days. Now you can bet not only on the outcomes of sporting events, but also elections, wars, and natural disasters. Yet many people react to these markets with disgust. For instance, in a recent article in Jacobin, political commentator David Moscrop calls them “demented” and “grotesque.” The main moral objection to prediction markets seems to be that it’s wrong to profit from someone’s misfortune. …
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