Is this good/bad for Gambling industry? NYSE Invest to Polymarket

[Fivestar4everMVP]

I think it's good for crypto space since polymarket uses crypto and it's re-entering the US space, so it's natural that NYSE it any other company takes a bite of the cake while it's still hot. NYSE jumped into polymarket to make profits too on a personal orientation since they'll be monetizing it's data. It's a win win situation both for the polymarket and NYSE and other data driven industries might follow suit with time.

And the long and short of this is that it's a positive news for the entire crypto currency ecosystem, like I said in my previous post, when traditional companies are starting to bring their money into cryptocurrency oriented businesses and companies, its a true indication that cryptocurrency is gradually achieving mainstream adoption, and I look forward to the day when it's becomes absolutely hard to differentiate between a crypto business and a traditional business due to its mix.

And yeah, NYSE possibly have done their thorough research and investigation and saw a huge profit opportunity/potentials in investing in polymarket, because I personally know or atleast, have an idea of what it takes for a company with such high level of reputation to find a smaller up and coming company worthy of their investment.

[michellee]

That gives Polymarket the opportunity to expand its business into bigger markets. With the investment from a big company, Polymarket can modify their strategy and search for the right way to grow its business. It is good for both and also the crypto market because this gives confidence to people to join in crypto, especially when they see a big company also invest in a crypto company. People will see crypto become bigger and more popular than before so that can make them not want to miss the chance to invest in crypto. We may see a change in the gambling industry and also the crypto market so prepare yourself for the coming.

[Mahiyammahi]

The largest exchange company in the world is investing $2 billion in Polymarket - a crypto-based prediction market platform.

Since Polymarket is a crypto-based prediction market, is this good for the entire cryptocurrency industry, and on the gambling platforms that mainly use cryptocurrencies?

Yes it definitely a good sign for crypto based gambling or prediction platform. This is the sign of massive crypto adoption. Some casino might force to accept crypto legally. One more thing is in crypto based casino it's crystal clear to the user about casino liquidity, legitimacy . But there is also some risks behind all these matters , some countries may flag them as gambling or unregister financial products. If polymarket is going go expand in this fast they need to take action.

[JeffBrad12]

Since Polymarket is a crypto-based prediction market, is this good for the entire cryptocurrency industry, and on the gambling platforms that mainly use cryptocurrencies?

It's only good for Polymarket, not crypto. My honest opinion it seems NYSE is just aware on how gambling is just getting normalized these days. People can easily access it. So they invest in Polymarket to anticipate that thing.
However, it must be noted that i don't like that platform as there so many bots around there. I never expected NYSE would make this unpredictable move, and i'm not a fan from this. It would better for them to invest in the perp platform instead of prediction market.

That's what came to mind when I heard about polymarkets, which aim to normalize gambling in a more elegant way. Meanwhile, casino gambling is severely restricted by regulatory pressures such as KYC.

NYSE is just trying to follow the trend. American Gaming Association (AGA) reported significant increase in Igaming revenue, which mean gambling becomes nomalized in US. Many americans are also using market prediction platform. The decision by NYSE to invest acquire majority of stakes in Polymarket is one step ahead decision.

Other than it, i don't think americans are concerning about KYC. They treat it as a common thing these days.

[Wakate]

It's fascinating to see different forms of gambling from casino games to sports, from sports to politics, from politics to crypto predictions etc. This is awesome to see how people are thinking bringing entertainment into gambling reality. Very soon we shall be seeing more companies giving gamblers and speculators the ability to give their predictions based on the price of Bitcoin and the altcoins market. This is a path where creativity meet prediction in the gambling industry.

[Outhue]

The largest exchange company in the world is investing $2 billion in Polymarket - a crypto-based prediction market platform.

Since Polymarket is a crypto-based prediction market, is this good for the entire cryptocurrency industry, and on the gambling platforms that mainly use cryptocurrencies?

Yes it definitely a good sign for crypto based gambling or prediction platform. This is the sign of massive crypto adoption. Some casino might force to accept crypto legally. One more thing is in crypto based casino it's crystal clear to the user about casino liquidity, legitimacy . But there is also some risks behind all these matters , some countries may flag them as gambling or unregister financial products. If polymarket is going go expand in this fast they need to take action.

I am glad you said it is good for mass crypto adoption but what about gambling because what OP is asking is if polymarket exposure will affect gambling in general, as if all gamblers will come together and plan to exit every online casinos that they are using and go to polymarket, it is never going to happen.

Polymarket will just be another plus, as this will likely make crypto more popular but online casinos accept crypto as faster way to gambling too so it is neither good or bad that polymarket is here, in the end it is all about the choices that gamblers will make, I believe that many gamblers on here are also using multiple casinos, it won't be bad if they add polymarket to their list.

[r_victory]

Whether it will be beneficial for the industry is not immediately known; it takes time to confirm. I believe it's always a positive experience when investments of this magnitude are made in companies in the sector; it's a way to attract attention to the cryptocurrency and gambling markets.

[Lida93]

It's a win win on both sides, for cryptocurrency it creates more attention to it and for gambling industry we can't debunk the fact that the polymarket has greatly expanded and now found a place in the gambling industry and its awesome things are going this way. This is lii two different industries mutual influencing the growth of each other.

[DaNNy001]

This might be challenging for traditional sportsbooks or betting platforms if the polymarket offers discounts or attractive bonuses it can take the attention of gamblers away from traditional sportsbooks, this would be of a disadvantage to betting platforms but this change is also going to affect casinos as well because the preferences of gamblers might change..Crypto adoption seems to be the only positive impact of this