Polymarket has self exclusion

[DrBeer]

So what’s the real difference between prediction markets and casinos? In broad terms, there’s an event on the probability of which you place a bet - or bet that the event won’t happen. Right? Casinos are essentially the same thing when it comes to roulette, for example.
Sure, there are specific nuances - red, black, zero- but that doesn’t change the essence: you choose an event and bet that it will happen. In the prediction market, roulette is replaced by real-life events. By the way, there’s a new layer here, inside information, which helps you make huge amounts of money in the betting market! It’s like a croupier who knows the order of the cards in the deck. Some people might not like this, but I believe the prediction market is essentially identical to sports betting and very similar in nature to a regular casino.

What is the difference between stock options or leverage and prediction markets and casinos? Very little if you go with this way of betting on events and probabilities. So the difference between a stock option trade and some kind of prediction market trades is just what the predictions are about, they function quite similarly. So if people want to go with this way of thinking and definitions, then many more things would have to be considered gambling. I don't think this is the way to approach this, and we must try to be consistent and not make up things.
....

One thing I definitely agree with is that we can’t "lump everyone together"!
So I suggest taking a slightly different approach by identifying the key characteristics of gambling and "applying them" to the options listed.

To start with, my personal opinion is that the key characteristics of gambling are:
1. A monetary wager. Money or its equivalent (cryptocurrencies, for example).
2. The outcome is difficult to predict or depends on processes beyond the player’s control.
3. The inability to recover the stake in the event of a loss.
4. A focus on making a profit.
5. An immediate outcome.

Question:
1. Do you agree with these characteristics? If not, please revise them.
2. If you agree, does this apply to prediction markets such as Polymarket?

P.S. From open sources: Studies show that such platforms trigger the same dopamine cycles and addiction risks in users as traditional betting. Statistics confirm these risks: the overwhelming majority of wallets on Polymarket lose money, which makes them similar to casinos.

[Africolo]

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.

read the full story

Deposit Limits, Self-Exclusion
As gaming companies have done in the past, Polymarket also introduced deposit limits and self-exclusion guardrails for traders who feel as though they may be getting carried with event contracts.

Polymarket clients considering self-exclusion have several options from which to choose, spanning temporary cooling-off periods up to lifetime halts.

“These tools give users greater control over their activity on Polymarket. Traders can voluntarily exclude themselves from the platform for periods ranging from 30 days to one year to a lifetime,” according to the statement. “U.S. users can also set daily, weekly or monthly deposit limits across all funding methods. Lowering a limit takes effect immediately, while raising or removing one requires a cooling-off period.”

Polymarket, which recently went live in the U.S., accepts deposits in a variety of ways, including Apple Pay, bank transfers, credit and debit cards and cryptocurrency.

Poly market is another low key gambling in disguise, they don't openly show up that they are into gambling but that's what it is, because if they were not into gambling they won't introduce deposits and self exclusion as a way for gambling to protect themselves from gambling addiction so it's crystal clear that it's a gambling site.

Self exclusion is one of the basics that gambling platforms has established in other to help their players fight addiction if need be so it doesn't requires only the government to regulate how people gamble as it's the duty of the casinos to effect that too on their platforms for player's safety, in as much as some people don't want to agree that poly market is another form of gambling we know they are acting in disguise but its a gambling site.

[Tungbulu]

In my opinion, a hobby should be something enjoyable to do, not something that causes new problems, especially when it comes to financial issues. In this case, if the consequence of overdoing it is a loss, you should reconsider. For that reason, self exclusion may be the best option right now for those who feel you are starting to lose control, this helps minimize the impact of even greater losses if you decide to continue with that habit.

Sometimes the hardest part of gambling responsibly is actually accepting the fact that it’s way better to just walk away from the scene than to try to regain control while still pushing yourself to keep going. The moment that gambling begins to affect a person’s finances, it may not be enough to simply just promise yourself that you’ll be more careful. The only thing that can be more effective at that point is self exclusion, as this completely sends them away from the temptation and hands them the opportunity to take their time to rebuild their financial stability without the pressure of chasing losses. It’s always a more viable option to protect your peace of mind and your financial future than trying to prove a point that you or keeping a hobby alive.

[Hispo]

... But the thing is I do not know how active or responsive their self-exclusion service could be if they will take immediately actions whenever gambler make use of the self-exclusion service.

It is probably going to be as fast or effective as self-exclusion systems found on other casinos and bookies, very similar to Stake or Rollbit.
In the end, it would be convenient for Polymarket to have an effective and functioning self-exclusion system, in order to peace it's critics in this ecosystem and those who are against prediction markets in the United States and the European Union.

Though, this also plays a little bit against Polymarket itself, as with this measure they are admitting they are sort of a gambling platform, which does not have as much to do with trading as they want people to believe.

[hedgeh0g]

It is probably going to be as fast or effective as self-exclusion systems found on other casinos and bookies, very similar to Stake or Rollbit.
In the end, it would be convenient for Polymarket to have an effective and functioning self-exclusion system, in order to peace it's critics in this ecosystem and those who are against prediction markets in the United States and the European Union.

Though, this also plays a little bit against Polymarket itself, as with this measure they are admitting they are sort of a gambling platform, which does not have as much to do with trading as they want people to believe.

Polymarket already faces plenty of criticism, but it is important to recognize that the self-limitation feature is undoubtedly a positive step, as it can help many users stop at the right moment. That said, compulsive bettors might still find workarounds such as switching to Kalshi or other, less popular betting platforms. At the same time, Polymarket acknowledges that this feature could potentially cut into its profits if a large number of users utilize it whether sporadically or by deciding they need a break from betting to focus on real-life matters.

[Hispo]

It is probably going to be as fast or effective as self-exclusion systems found on other casinos and bookies, very similar to Stake or Rollbit.
In the end, it would be convenient for Polymarket to have an effective and functioning self-exclusion system, in order to peace it's critics in this ecosystem and those who are against prediction markets in the United States and the European Union.

Though, this also plays a little bit against Polymarket itself, as with this measure they are admitting they are sort of a gambling platform, which does not have as much to do with trading as they want people to believe.

Polymarket already faces plenty of criticism, but it is important to recognize that the self-limitation feature is undoubtedly a positive step, as it can help many users stop at the right moment. That said, compulsive bettors might still find workarounds such as switching to Kalshi or other, less popular betting platforms. At the same time, Polymarket acknowledges that this feature could potentially cut into its profits if a large number of users utilize it whether sporadically or by deciding they need a break from betting to focus on real-life matters.

Right. But critics of Polymarket won't care whether this is a positive feature or not, you know?
It could help many people not to lose control over their wallets because of their addiction to prediction markets, however those critica will focus on the fact self-exclusion is something which is rather exclusive of casinos and bookies, in order to continue to attack Polymarket for alledgelly being an unregulated gambling service operating in the United States.

Also, as you said, it is always possible to avoid self-exclusion by switching of platform or using others tricks.

[Smartprofit]

So what’s the real difference between prediction markets and casinos? In broad terms, there’s an event on the probability of which you place a bet - or bet that the event won’t happen. Right? Casinos are essentially the same thing when it comes to roulette, for example.
Sure, there are specific nuances - red, black, zero- but that doesn’t change the essence: you choose an event and bet that it will happen. In the prediction market, roulette is replaced by real-life events. By the way, there’s a new layer here, inside information, which helps you make huge amounts of money in the betting market! It’s like a croupier who knows the order of the cards in the deck. Some people might not like this, but I believe the prediction market is essentially identical to sports betting and very similar in nature to a regular casino.

What is the difference between stock options or leverage and prediction markets and casinos? Very little if you go with this way of betting on events and probabilities. So the difference between a stock option trade and some kind of prediction market trades is just what the predictions are about, they function quite similarly. So if people want to go with this way of thinking and definitions, then many more things would have to be considered gambling. I don't think this is the way to approach this, and we must try to be consistent and not make up things.
....

One thing I definitely agree with is that we can’t "lump everyone together"!
So I suggest taking a slightly different approach by identifying the key characteristics of gambling and "applying them" to the options listed.

To start with, my personal opinion is that the key characteristics of gambling are:
1. A monetary wager. Money or its equivalent (cryptocurrencies, for example).
2. The outcome is difficult to predict or depends on processes beyond the player’s control.
3. The inability to recover the stake in the event of a loss.
4. A focus on making a profit.
5. An immediate outcome.

Question:
1. Do you agree with these characteristics? If not, please revise them.
2. If you agree, does this apply to prediction markets such as Polymarket?

P.S. From open sources: Studies show that such platforms trigger the same dopamine cycles and addiction risks in users as traditional betting. Statistics confirm these risks: the overwhelming majority of wallets on Polymarket lose money, which makes them similar to casinos.

I don't entirely agree with this definition of gambling... I also don't believe that prediction platforms can be equated with online casinos or bookmakers.🙋

There are fundamental differences between these two businesses. Casino gambling has no value for society. Prediction markets are oracles of truth. Therefore, they are more like decentralized analytical agencies and media outlets than traditional casinos.

In a casino or bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other.

In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret. This allows people to construct a more realistic picture of the world in their minds.

In my opinion, this is more like futures trading than gambling. 🧑‍💻

[Alex077]

...
Right. But critics of Polymarket won't care whether this is a positive feature or not, you know?
It could help many people not to lose control over their wallets because of their addiction to prediction markets, however those critica will focus on the fact self-exclusion is something which is rather exclusive of casinos and bookies, in order to continue to attack Polymarket for alledgelly being an unregulated gambling service operating in the United States.
..

I think there's a bit of a contradiction here...So it seems like almost anything the company does can be turned against it.
At the same time, we can't deny that many contracts on Polymarket are very similar to regular bets, especially when it comes to sporting events. So I wouldn't completely dismiss the critics' arguments either. I think the question of regulation should be based on the actual nature of the products being offered, rather than whether a platform has self-exclusion tools or not.

As for getting around self-exclusion, it's practically impossible to prevent that completely.

[Dogedegen]

So what’s the real difference between prediction markets and casinos? In broad terms, there’s an event on the probability of which you place a bet - or bet that the event won’t happen. Right? Casinos are essentially the same thing when it comes to roulette, for example.
Sure, there are specific nuances - red, black, zero- but that doesn’t change the essence: you choose an event and bet that it will happen. In the prediction market, roulette is replaced by real-life events. By the way, there’s a new layer here, inside information, which helps you make huge amounts of money in the betting market! It’s like a croupier who knows the order of the cards in the deck. Some people might not like this, but I believe the prediction market is essentially identical to sports betting and very similar in nature to a regular casino.

What is the difference between stock options or leverage and prediction markets and casinos? Very little if you go with this way of betting on events and probabilities. So the difference between a stock option trade and some kind of prediction market trades is just what the predictions are about, they function quite similarly. So if people want to go with this way of thinking and definitions, then many more things would have to be considered gambling. I don't think this is the way to approach this, and we must try to be consistent and not make up things.
....

One thing I definitely agree with is that we can’t "lump everyone together"!
So I suggest taking a slightly different approach by identifying the key characteristics of gambling and "applying them" to the options listed.

To start with, my personal opinion is that the key characteristics of gambling are:
1. A monetary wager. Money or its equivalent (cryptocurrencies, for example).
2. The outcome is difficult to predict or depends on processes beyond the player’s control.
3. The inability to recover the stake in the event of a loss.
4. A focus on making a profit.
5. An immediate outcome.

Question:
1. Do you agree with these characteristics? If not, please revise them.
2. If you agree, does this apply to prediction markets such as Polymarket?

P.S. From open sources: Studies show that such platforms trigger the same dopamine cycles and addiction risks in users as traditional betting. Statistics confirm these risks: the overwhelming majority of wallets on Polymarket lose money, which makes them similar to casinos.

It is a good list, that is why I brought up my example. The only first issue is an immediate outcome, many predictions on platforms like Polymarket are not about immediate outcomes they can be about events that are weeks away so that is disputed. Look at stock options, then go through your list at each point. You will say yes at almost each point. Also what do you mean with the inability to recover the stake in the event of a loss? If gambling platforms implemented partial stop loss functionalities some way then you would consider them to be financial instruments instead of gambling? Don't give them ideas.

\
I don't entirely agree with this definition of gambling... I also don't believe that prediction platforms can be equated with online casinos or bookmakers.🙋

There are fundamental differences between these two businesses. Casino gambling has no value for society. Prediction markets are oracles of truth. Therefore, they are more like decentralized analytical agencies and media outlets than traditional casinos.

In a casino or bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other.

In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret. This allows people to construct a more realistic picture of the world in their minds.

In my opinion, this is more like futures trading than gambling. 🧑‍💻

That is quite an interesting perspective to be had on it, and it does show information to the public that otherwise would not land there because there is a monetary incentive for that now. The main problem that people have with insider information is not about its existence, their main problem is that they do not have access to the insider information themselves so they yell online against prediction markets that they are evil or something. 

[icebar]

It is probably going to be as fast or effective as self-exclusion systems found on other casinos and bookies, very similar to Stake or Rollbit.
In the end, it would be convenient for Polymarket to have an effective and functioning self-exclusion system, in order to peace it's critics in this ecosystem and those who are against prediction markets in the United States and the European Union.

Though, this also plays a little bit against Polymarket itself, as with this measure they are admitting they are sort of a gambling platform, which does not have as much to do with trading as they want people to believe.

Polymarket already faces plenty of criticism, but it is important to recognize that the self-limitation feature is undoubtedly a positive step, as it can help many users stop at the right moment. That said, compulsive bettors might still find workarounds such as switching to Kalshi or other, less popular betting platforms. At the same time, Polymarket acknowledges that this feature could potentially cut into its profits if a large number of users utilize it whether sporadically or by deciding they need a break from betting to focus on real-life matters.

Whatever criticisms are made about the Polymarket, if users benefit from using this feature, then it is definitely profitable. I think that the benefit of Self-Exclusion will enable the user to exercise self-control. When he needs to stop, he can stop and even if he wants, he cannot take new trades there. Although this is a bit of a loss for Polymarket, many will trust it because such a feature is added for the convenience of users. After self-exclusion, even if someone wants, he will not be able to return to the previous position before the specified time. But yes, if someone tries to do so using any other platform, it is completely his own business. Not only can this feature save someone, if someone does not try to control himself, he will definitely be harmed.

[CryptoBuds]

I as a gambler I believe that self exclusion on prediction market won't be helpful in any ways, I think that adding this function is another way of marketing prediction markets, it's not useful.

We shouldn't conflate purpose of self exclusion with its actual effectiveness. A gambler can choose to delete their account voluntarily. However if urge to chase loss strike they could simply open new account. You know, goal of self exclusion isn't to forcibly turn someone into model citizen.

Rather, it is to create barrier at very moment they might make impulsive decision.

By the way, I don't believe Polymarket introduced this feature solely for marketing purpose. It is also possible that this is happening due to pressure from regulatory bodies. Even so it is capable of providing user with some degree of security. Key point is how successfully measure for exclusion are being implemented. Specifically whether it can be easily bypassed using another account or if it remains possible to make deposit or open new position while exclusion is in effect. We should judge feature based on how it actually function in practice, not just by its name.

[Su-asa]

Prediction market is just another form of gambling in disguise of investment and player can still get addicted. They present the platform as a trading place where people can invest but the real exchange for trading does not put this kind of limit rules and doesn't also put self exclusions service but gambling site does and in my opinion, the prediction market are also part of gambling and they definitely has seen the way people are playing and some are already getting addicted which could be the reason they have decided to implement this new rules. Some countries have banned prediction market saying they failed to comply with gambling policy since they already see them as no investment platform and just as Market capitalist said, with time other countries will still see the prediction market as gambling platform.

The only difference between the prediction market and gambling is that in the prediction market they don't use the word stake, traders buy and sell positions which is technically the same as gambling on particular outcome. I think people that refuse to admit that this is the same as gambling as just in denial or probably don't want to associate themselves with the fact that they are also gamblers.

[Hispo]

...
The only difference between the prediction market and gambling is that in the prediction market they don't use the word stake, traders buy and sell positions which is technically the same as gambling on particular outcome. I think people that refuse to admit that this is the same as gambling as just in denial or probably don't want to associate themselves with the fact that they are also gamblers.

There are several reasons why there are people who allege they are not gambling when they participate in prediction markets. For example, take a look at people who follow Islam, for them gambling and betting is Haram, so it makes sense for them (for those who are interested in taking risks for money), to have this legal and religious grey area, so they can risk their money for the sake of even more money without technically betting involved in Haram activities.

From the perspective of someone in the USA, this reason may be not valid if they are christian... But trading and gambling have different sets of regulations, it is convenient for polymarkets to be viewed as a trading company and not a gambling one.

[DrBeer]

So what’s the real difference between prediction markets and casinos? In broad terms, there’s an event on the probability of which you place a bet - or bet that the event won’t happen. Right? Casinos are essentially the same thing when it comes to roulette, for example.
Sure, there are specific nuances - red, black, zero- but that doesn’t change the essence: you choose an event and bet that it will happen. In the prediction market, roulette is replaced by real-life events. By the way, there’s a new layer here, inside information, which helps you make huge amounts of money in the betting market! It’s like a croupier who knows the order of the cards in the deck. Some people might not like this, but I believe the prediction market is essentially identical to sports betting and very similar in nature to a regular casino.

What is the difference between stock options or leverage and prediction markets and casinos? Very little if you go with this way of betting on events and probabilities. So the difference between a stock option trade and some kind of prediction market trades is just what the predictions are about, they function quite similarly. So if people want to go with this way of thinking and definitions, then many more things would have to be considered gambling. I don't think this is the way to approach this, and we must try to be consistent and not make up things.
....

One thing I definitely agree with is that we can’t "lump everyone together"!
So I suggest taking a slightly different approach by identifying the key characteristics of gambling and "applying them" to the options listed.

To start with, my personal opinion is that the key characteristics of gambling are:
1. A monetary wager. Money or its equivalent (cryptocurrencies, for example).
2. The outcome is difficult to predict or depends on processes beyond the player’s control.
3. The inability to recover the stake in the event of a loss.
4. A focus on making a profit.
5. An immediate outcome.

Question:
1. Do you agree with these characteristics? If not, please revise them.
2. If you agree, does this apply to prediction markets such as Polymarket?

P.S. From open sources: Studies show that such platforms trigger the same dopamine cycles and addiction risks in users as traditional betting. Statistics confirm these risks: the overwhelming majority of wallets on Polymarket lose money, which makes them similar to casinos.

I don't entirely agree with this definition of gambling... I also don't believe that prediction platforms can be equated with online casinos or bookmakers.🙋

There are fundamental differences between these two businesses. Casino gambling has no value for society. Prediction markets are oracles of truth. Therefore, they are more like decentralized analytical agencies and media outlets than traditional casinos.

In a casino or bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other.

In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret. This allows people to construct a more realistic picture of the world in their minds.

In my opinion, this is more like futures trading than gambling. 🧑‍💻

The good thing is that we can express different opinions on the same topic, debate, and present our arguments and counterarguments.
I do agree that there are differences, which you’ve pointed out very well! But I disagree with some of the arguments, and I’ll explain which ones and why:
1. "Casino gambling has no value for society. Prediction markets are oracles of truth".
In my opinion, this is a misconception - there are no truly useful predictions here,  it’s more like flipping a coin - will the event happen or not? These can be simple assumptions, realistic expectations, or… insider trading based on information.
2. "In a casino or with a bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other."
Yes and no I could also say that in a casino, your bets are pitted against other players’ bets, while the casino itself simply provides the mechanism for determining whose bet wins! If I’m wrong, please correct me!
3. "In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret".
An event that is going to happen cannot hide information. Unless, of course, we have a centralized platform where potential events are simply listed - events that will either happen or not.
4. "In my opinion, this is more like futures trading than gambling". - In a sense, yes, but only very loosely. Futures are about "predicting a more favorable price in the future" and executing a transaction with money.

[rachael9385]

Polymarket is not a market, its a casino and a rigged one.
I advise you against using it, because people often hang out there who have information and therefore, as you well understand, are cheating.

While you might have a point on this it might not be totally accurate calling the polymarket a rigged casino, and the reason why I said you might actually have a point is because there are rumors of market manipulations that goes on in the polymarket but technically it's just a form of trading and also gambling at the same time. These informations about people cheating has no clear proof.

If you enjoy throwing money away like this and never being able to win, go ahead.

Nothing is certain or guaranteed, this also includes regular casinos as well, mind you there are people that are winning from it so it's basically a matter of what you prefer, a whole lot of people prefer to use the polymarket and some are making profits from It, at the end of the it's about luck.

As a gambler, it is important for someone to know their limits, when to gamble, amount to use and what not to use to gamble if should they found themselves in an unwanted condition or even seeing themselves as someone who is gambling too much or spending money unnecessarily they may use the self-exclusion immediately to close their account.

Your statement about know limits or setting them is reasonable, I think that if a gambler has limits and follows them strictly there would not be any point using the self exclusion option, it is quite an unnecessary option because it doesn't take a gambler out of the game completely, self control Is what's important.

[VictorWinston]

The only difference between the prediction market and gambling is that in the prediction market they don't use the word stake, traders buy and sell positions which is technically the same as gambling on particular outcome. I think people that refuse to admit that this is the same as gambling as just in denial or probably don't want to associate themselves with the fact that they are also gamblers.

I had the same thought when I first tried to figure out how investing works, like, wait, isn't everybody there just betting on something? Same game, different name

[Smartprofit]

*****

*****
....

*****

I don't entirely agree with this definition of gambling... I also don't believe that prediction platforms can be equated with online casinos or bookmakers.🙋

There are fundamental differences between these two businesses. Casino gambling has no value for society. Prediction markets are oracles of truth. Therefore, they are more like decentralized analytical agencies and media outlets than traditional casinos.

In a casino or bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other.

In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret. This allows people to construct a more realistic picture of the world in their minds.

In my opinion, this is more like futures trading than gambling. 🧑‍💻

The good thing is that we can express different opinions on the same topic, debate, and present our arguments and counterarguments.
I do agree that there are differences, which you’ve pointed out very well! But I disagree with some of the arguments, and I’ll explain which ones and why:
1. "Casino gambling has no value for society. Prediction markets are oracles of truth".
In my opinion, this is a misconception - there are no truly useful predictions here,  it’s more like flipping a coin - will the event happen or not? These can be simple assumptions, realistic expectations, or… insider trading based on information.
2. "In a casino or with a bookmaker, players bet against a centralized bookmaker. In a prediction market, players bet against each other."
Yes and no I could also say that in a casino, your bets are pitted against other players’ bets, while the casino itself simply provides the mechanism for determining whose bet wins! If I’m wrong, please correct me!
3. "In a prediction market, experts and insiders make money by revealing information that would otherwise remain a secret".
An event that is going to happen cannot hide information. Unless, of course, we have a centralized platform where potential events are simply listed - events that will either happen or not.
4. "In my opinion, this is more like futures trading than gambling". - In a sense, yes, but only very loosely. Futures are about "predicting a more favorable price in the future" and executing a transaction with money.

Unlike traditional casinos, prediction platforms actually have social value. 🙋

I'll give two examples... It's long been noted that predictions on Polymarket are more accurate than opinion polls or the opinions of armchair experts. Why? Because prediction platforms attract people who are willing to risk their money and don't want to lose it. This isn't the classic "wisdom of the crowd," but rather the "wisdom of the crowd of insiders and true experts." This is why Polymarket predictions have been frequently mentioned in the media recently. If such predictions are more accurate than those of analytical agencies, then why pay those agencies? Establishing the truth is a crucial function in our deceptive and chaotic world.

The second example has to do with hedging. Let's say you're a businessman and you're afraid that Donald Trump will impose tariffs that will ruin you. You go to Polymarket and bet on this event. If Donald Trump imposes tariffs, you win the bet and offset the losses of your business. Is it possible to do this in an online casino? Of course not!

When playing at a centralized casino, you're generally playing against the house. Even if it's a multi-player game, all lost bets generally go to the house, and all winnings are paid out of the house's own funds. This is the case with most casino games. 💁

[Hazink]

The only difference between the prediction market and gambling is that in the prediction market they don't use the word stake, traders buy and sell positions which is technically the same as gambling on particular outcome. I think people that refuse to admit that this is the same as gambling as just in denial or probably don't want to associate themselves with the fact that they are also gamblers.

The people are not actually the ones claiming prediction market is not the same as gambling, but the platforms are the ones who are claiming they are not gambling, either because of their license or because they are exploiting loopholes in some countries where gambling is restricted if not most players active on the prediction market know what they are doing is equal to gambling.