Polymarket has self exclusion

[stompix]

~
Yeah, I just self-excluded myself from Burger King, Pizza Hut,  more than 4 beer brands and I'm on the no-sell list for vapes.../s

Is self exclusion related to only gambling?
Source: ChatGPT

So gambling, financial gambling and gaming, lol....what a waste of ChatGPT

Some people use self-imposed restrictions

That is not self-exclusion!

So, here is a proper usage of ChatGpt:

-Can you self-exclude from smoking? Straight one line answer no bullshit!
-No. There is no general legal “self-exclusion” system for smoking comparable to gambling self-exclusion.
-There is no universal alcohol self-exclusion system like gambling self-exclusion.
-For illegal drugs, there generally isn't a self-exclusion register because you aren't legally entitled to purchase them in the first place.
-Is there any other addiction you can self exclude exactly like gambling, again no bullshit straight answer only
No. If you mean exactly like gambling self-exclusion, where you voluntarily register and regulated operators are required to prevent you from opening/using gambling accounts, gambling is essentially unique. Some have account bans or treatment programs, but they are not the same self-exclusion mechanism.

Stop making data centers waste water this way!

I don't even want to look at the details of how they are going to implement self-exclusion on a supposedly decentralized platform, in any case, everything is moving towards anal KYC.

Pinky promise they will check if the same deposit address as yours with the same account name will use their website and lock that account if they fee like.

[gracreavix]

That self exclusion is actually nice polymarket introduced it into their own system. They may have seen some moves by players that made them take that decision. For that concern, I applaud them. But you going as far as saying just because they introduced self exclusion so therefore, they should be classified as a gambling site and treated as one. That's were I say no. You can take a tool a platform is using and put it in your own. But that doesn't mean that because you used this tool from that platform, then you should take the platform name. Don't sit right.

[Zlantann]

Some people use self-imposed restrictions

That is not self-exclusion!

So, here is a proper usage of ChatGpt:

-Can you self-exclude from smoking? Straight one line answer no bullshit!
-No. There is no general legal “self-exclusion” system for smoking comparable to gambling self-exclusion.
-There is no universal alcohol self-exclusion system like gambling self-exclusion.
-For illegal drugs, there generally isn't a self-exclusion register because you aren't legally entitled to purchase them in the first place.
-Is there any other addiction you can self exclude exactly like gambling, again no bullshit straight answer only
No. If you mean exactly like gambling self-exclusion, where you voluntarily register and regulated operators are required to prevent you from opening/using gambling accounts, gambling is essentially unique. Some have account bans or treatment programs, but they are not the same self-exclusion mechanism.

Stop making data centers waste water this way!

I never said there are kinds of self-exclusion services that work exactly like the options offered by gambling platforms. My position is that one can exclude themselves from other forms of addictive behaviors besides gambling. Anyway, these are some alcohol self-exclusion services.

Self-exclusion from liquor venues
Langtons
DanMurphy's

Do you think I wasted data center water?

[YOSHIE]

Polymarket has self exclusion

In my view the Polymarket site works the same as gambling sites in general, money is at stake, only the name is different from the prediction site, but the content inside is betting.

When Polymarket had the idea to launch a self-exclusion feature, I thought it was a natural thing and it should be, when the situation is like now no one can stand up to very strict global regulations, This means that regardless of whether a prediction market platform or a casino platform has legal supervision, the law remains in effect, because both facts on the ground are betting activities.

Maybe we all here know, the concept of the self-exclusion feature is one of the main goals of preventing betting addiction, in short, Polymarket sites or gambling sites are prone to addiction, when anti-addiction tools are visible on various betting sites it will certainly control and become a protection for the users themselves.

[Odohu]

This is supposed to lay to rest the argument of prediction market being a trading platform or a gambling platform because they have just implemented one of the control measure for gambling addiction. With this addition, there is little left to to make them the same as one of the web3 casinos we have but I know they will not openly identify as a gambling platform due to regulatory pressures.

[Charles-Tim]

This is supposed to lay to rest the argument of prediction market being a trading platform or a gambling platform because they have just implemented one of the control measure for gambling addiction. With this addition, there is little left to to make them the same as one of the web3 casinos we have but I know they will not openly identify as a gambling platform due to regulatory pressures.

There are other places than gamble sites that self-exclusion can be considered good. A good example is in trading. If more than 80% of traders are losing, and there are professionals saying that people are coming for trading addiction rehabilitation, I do not think that makes your conclusion valid. Anything that people can be addicted to, there could be self-exclusion applied to such things, not just only gambling.

I am not implying that prediction markets are gambling or not gambling.

[Miles2006]

In normal sense both polymarket and gambling site are different, how we view this depends entirely on the outcome so basically if a control system is set in order to prevent addiction then people might be doing too much with the predicting market.
The control system is not in benefit of polymarket, the fact deposit limit is now included shows the misuse of freedom probably an abuse though I don’t agree with the saying both are similar but, money is involve in return for a profit or loss so it’s safe to say these rule is needed in the polymarket system.

[JunaidAzizi]

Well, if they launch deposit limits and self exclusion, then it means people are using an excessive amount of money and are at risk of addiction. However, that does not mean they are gambling sites or should be treated as such. They are offering these options voluntarily, and if any of their users feel that they are using it a lot and need to discipline themselves, then they have the option to either follow the deposit limit or choose the self exclusion option. So, if they use these features, then don't compare it to gambling there are many other things that cannot be the same.

[Mr_Brilliant$]

This is supposed to lay to rest the argument of prediction market being a trading platform or a gambling platform because they have just implemented one of the control measure for gambling addiction. With this addition, there is little left to to make them the same as one of the web3 casinos we have but I know they will not openly identify as a gambling platform due to regulatory pressures.

I read through the comment and there's someone that commented about, just because polymarket use one of its features doesn't mean it is now a gambling platform. I can of agree because you see Xiaomi copy same features of the iPhone. Still doesn't make Xiaomi an iPhone. So copying doesn't automatically make that thing the other thing is is copying from. I totally understand and agree. Polymarket did copy something useful, doesn't make it a gambling platform. I mean everyone wants to make good and better of their product and copying that remove the copiers identity.

[Sim_card]

If this is based on regulation, Polymarket should have argued that it's not a gambling platform but because they know that it's an advance gambling platform that's why they accepted. I feel that, they have taken the right step in order for them to encourage responsible gambling and limit addiction rate. But will this help to limit addiction because people are still getting addicted to gamble.

[goldkingcoiner]

The fact that Polymarket has self exclusion is probably only because they are being forced to do that. I am guessing that regulations may have changed and now they need to play ball. Otherwise they would have no incentive to not take all their user's money, especially if the user is part of a vulnerable group of people who should not be gambling or doing gambling-wise things.

[iv4n]

There's this news about Polymarket already acting more like gambling sites...

They are a gambling site from the beginning... But they found some loophole and managed to position themselves as "prediction markets". In the eyes of the law and regulations, there's a big difference between gambling & prediction markets.

And now they are adding the "self-exclusion" feature... It's like a standard tool for gambling sites! So it's not gambling, but we offer some protection from gambling addiction?! Definition of irony...

Polymarket is one crazy place... I'm not there, and from the comments, not so many people from the forum are active there. But we all follow crazy news from that direction... Prediction markets will continue to stir up the dust in the coming years.

[DubemIfedigbo001]

There's this news about Polymarket already acting more like gambling sites as they have announced Deposit Limits and Self-Exclusion... so I thought they were a prediction market, why are they now introducing the same protections we normally see on gambling platforms? self-exclusion is mainly there to help minimize gambling addiction, yet it is now being implemented here as well.

now, this is where regulators should look at it more closely, because if a prediction market sees the need to introduce responsible gambling tools then they should see them like gambling sites. no more prediction market industry, they should join the gambling industry.

No matter how long it takes for regulators to come to terms with this truth, it would be worth the wait.. Polymarket is gambling even though they brand it as trading. If poly market was outright trading, then they should've introduced trading features like stop loss, leverage and other trading tools in it, but I don't think it's in existence. So introducing a gambling tool should reintroduce it as pure gambling, I don't think we need more convictions.

[MainIbem]

Well, if they launch deposit limits and self exclusion, then it means people are using an excessive amount of money and are at risk of addiction. However, that does not mean they are gambling sites or should be treated as such. They are offering these options voluntarily, and if any of their users feel that they are using it a lot and need to discipline themselves, then they have the option to either follow the deposit limit or choose the self exclusion option. So, if they use these features, then don't compare it to gambling there are many other things that cannot be the same.

I also think they just adopted that feature to help people who think they're overusing it and because they adopted it from gambling platforms doesn't mean they're one. Afterall Polymartet is designed in a way that people can get addicted to it too like gambling so if adopting features from gambling would serve as mode of discipline that would help customers tackle addiction then it's a good one. A lot of people do confuse polymarket for gambling I'm sure this new features would increase their believe that they're same but they're two different things.
 

[Doan9269]

There's this news about Polymarket already acting more like gambling sites as they have announced Deposit Limits and Self-Exclusion...

It's surprising that they have a deposit limit and also consider self-exclusion, which are similar features you discover with a gambling platform. Everything they are trying to do recently is encourage people to develop more interest in playing prediction markets, and this may not really go far in the sense of making it mainstream, as we have with gambling.

[EluguHcman]

There's this news about Polymarket already acting more like gambling sites as they have announced Deposit Limits and Self-Exclusion... so I thought they were a prediction market, why are they now introducing the same protections we normally see on gambling platforms? self-exclusion is mainly there to help minimize gambling addiction, yet it is now being implemented here as well.

Already there had been relatively characteristics between the gambling and the poly market which of course, they are both seemly to be about predicting on events or gaming activities with its outcome unpredictable.
Whether it is a trader or a gambler, they also shares similarities during when making decisions in the market or event and all risks boils to the risks of uncertainty.

So coming to see the poly market being adopting that feature of limits of deposit and self exclusion ia never surprising to me.
In fact I expected it because both traders and gamblers do need the privilege to control and manages their risks of addiction and spending beyond affordability m

[Agbe]

Call it a prediction site or not anything that has to do with prediction which is backed up by money is generally considered gambling. That is the essence of these types of moved which is aimed at making sure that people don't lose much . This type of features is a good one because depending on the self exclusion period that an individual will set for himself, he can use such time off making prediction which to me will be a good one , as it will cut down the rate of lose that someone can actually have.

[Asiska02]

Regulators know this already and they’ll be looking for ways to actually mitigate the after effect of vigorous action of people on this polymarket. Self exclusion is very necessary as it helps guides how people interact with this market and don’t get too addicted. We all know that they behave as a gambling site but the limitations on them speaks well on how addicted it can get for people and misuse of the platforms. The deposit limit is also a good addition, it can help controls mismanagement of funds. This is regulatory pressure thing though, they want to stay long and they’ll have to play by the rules of the officials.

[Crypto Library]

From my point of view my personal comment on the poly market and the process of it just betting even though we call it prediction market, and what we can call gambling at the last stage.

However, the point here is that it is not a casino itself, where in the case of betting within the casino, users bet against the casino, and in other places, like the polymarket, users bet against the user in a prediction.
Moreover, the CFTC, which acts as a regulator, has also declared that it is working on a separate regulatory framework for such prediction markets, where it is not included in the gambling industry.

And, there are many platforms, from trading platforms to exchanges that provide financial services, where the self-exclusion feature is used due to the high risk of users, so the logic that they should join the gambling industry because there is self-exclusion in prediction markets will not always work there.

[CryptoHeadlineNews]

There's this news about Polymarket already acting more like gambling sites as they have announced Deposit Limits and Self-Exclusion... so I thought they were a prediction market, why are they now introducing the same protections we normally see on gambling platforms? self-exclusion is mainly there to help minimize gambling addiction, yet it is now being implemented here as well.

now, this is where regulators should look at it more closely, because if a prediction market sees the need to introduce responsible gambling tools then they should see them like gambling sites. no more prediction market industry, they should join the gambling industry.

here's the report if you guys are interested.

There is absolutely nothing wrong with prediction market having self exclusion on its platform, as a way to prevent its users from getting addicted to it. Because what is been done on Polymarket is not different from what it's been done on a regular gambling platforms. Since both involves users wagering a certain amount of money over a possible outcome of an event. Of which if the prediction happens to be correct, you get a reward, but if it doesn't, you loses the bet.  

The only real difference is how both the prediction market and gambling platforms are been classify and structured from user's perspective, which might be the obvious reason why people would compare the two. Because you still stand the chance to be risking money based on an uncertain outcome, which could obviously lead to compulsive behavior for some people. So I actually see self-exclusion and deposit limits as a positive thing.