We Haven't Seen the Worst of What Gambling and Prediction Markets Will Do

Is it really so unbelievable that a politician might tip off a friend, or assuage an enemy, by giving them inside information that would allow them to profit on betting markets? Is it really so incredible to believe that a government official would try to align policy with a betting position that stood to earn them, or an allied group, hundreds of thousands of dollars?

Congratulations - you just described the stock market.

We have yet to discover how bad it’s current impact has been.