Polymarket has self exclusion

[Doan9269]

Unfortunately, prediction markets are emulating what they claim not to be; we also don't want them to come across as gambling, because it is more about taking risks than gambling.

I think some of these features are just part of their selling points to ensure that more people are inclined towards seeing them as considerate and responsible as well for their use. I don't know what fun it is in prediction markets compared to the risk one has to take on what is known to be uncertainty, and the entire process can be manipulated by an insider, so self-exclusion is just, by the way, prediction markets remain what they are.

[STT]

Everything can be gambling and compulsive behavior if you frame it that way in your head.  I'm sure some shopping websites should have self exclusion on them because some people are seriously addicted to shopping for items they dont even need or already have duplicates of.
  Just having that option isnt any kind of negative, in theory it should be an option everywhere as its not too much ask for as an option.

[CryptoHeadlineNews]

Everything can be gambling and compulsive behavior if you frame it that way in your head.  I'm sure some shopping websites should have self exclusion on them because some people are seriously addicted to shopping for items they dont even need or already have duplicates of.
  Just having that option isnt any kind of negative, in theory it should be an option everywhere as its not too much ask for as an option.

Yeah, i totally agree with you, but for me, i think there is a difference between having a hobby and dealing with an actual problem due to compulsive behaviors. And when it comes to gambling, having a self exclusion is very important due to the fact how the individuals stands the riskof financial harm. which is not the same with shopping websites. Because when an individual buys too many items he isn't in need of, the possibility of him selling it back is very high, and he will recover his money back, unlike gambling whereby if you lose, it has lost forever, and can't be resold or exchange for another item. So thats the huge difference between gambling. 

[M47AK16]

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.

I don't know if it's more a consequence of warnings or guidelines from the regulator, as eisen33 points out. But what's clear is that we all know those prediction markets are gambling. A new, different, unique kind of gambling, if you will, but gambling nonetheless. So far, they've managed to circumvent gambling regulations by exploiting legal loopholes, but I think that will gradually change, country by country.

Exactly what I was thinking about this. We know that even prediction markets are a sort of gambling because you are basically just making a bet that can be correct or wrong and you will either win some money or lose your money, which is exactly how gambling works, but since it's not straight up gambling, because there is a thin line there, just like how options and binary trading is basically gambling but just given the name of trading, because essentially, you are just making predictions about the future and betting with your money on it, and that's gambling, but options and binary trading is also not considered gambling.

Polymarket or any other platform that will start providing their users with tools and limits that are generally given to gamblers are just indirectly connecting themselves with the gambling industry and are giving regulators the opportunity to impose the same rules on them that they do on casino platforms. They should have thought about this before, because just like I mentioned, even though binary trading is also sort of gambling, but they don't give options such as self-exclusion to their users, because they don't consider it gambling, they think you can make money from it in the long run if you follow strategies, but it's a lie, however, they know there is a thin line that they don't need to cross.

[o48o]

Everything can be gambling and compulsive behavior if you frame it that way in your head.  I'm sure some shopping websites should have self exclusion on them because some people are seriously addicted to shopping for items they dont even need or already have duplicates of.
  Just having that option isnt any kind of negative, in theory it should be an option everywhere as its not too much ask for as an option.

Just like mobile games with in-app purchaces, gaming platforms, adult media sites and fast food places and deliveries. You know, things that can be bad for addicts in general. But they aren't doing it unless they aren't going to do it unless they are forced by law, like casinos.

In fact, shareholders might even sue the company if companies were offering such a service out of pure kindness, as it could be argued that they wouldn't be fulfilling their duties to promote the success of that company. And helping customers to quit isn't really a profitable business model when your competition isn't doing that.

[Rashlyowl]

Everything can be gambling and compulsive behavior if you frame it that way in your head. I'm sure some shopping websites should have self exclusion on them because some people are seriously addicted to shopping for items they dont even need or already have duplicates of.
Just having that option isnt any kind of negative, in theory it should be an option everywhere as its not too much ask for as an option.

Love your description of self-exclusion bros @STT, any form of consumerist behavior can lead to compulsive habits & we should not view the self-exclusion option negatively. From the users or consumers side, it is actually a good thing when they are offered options that help them.

Back to Polymarket implementing self-exclusion, given the numerous risks associated with their site, they felt it was necessary to have that self-exclusion option.

[Hispo]

Everything can be gambling and compulsive behavior if you frame it that way in your head.  I'm sure some shopping websites should have self exclusion on them because some people are seriously addicted to shopping for items they dont even need or already have duplicates of.
  Just having that option isnt any kind of negative, in theory it should be an option everywhere as its not too much ask for as an option.

Well, honestly, I don't think it is fair to compare shopping sites like Amazon, eBay or even Mercado Libre with some sites like Kalshi or Polymarket. First off, Polymarket and Kalshi have mechanisms which are very alike to gambling and even trading. Trading in a sort of way that people need to take decisions in a very short period of time in order to get money or lose it all. On the other hand, when you go to a shopping website like Amazon, you can buy and you can cancel orders and you can manage your money in a very easier way and you are not pushed to take risky behaviors in order to get what you want. And in the end, it is a matter of perspective and opinion, but I am sure that there are more people who are addicted to prediction markets than people who are addicted to shopping on Amazon.