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Most Prediction Market Traders Are Losing Money While Bots Rack Up Gains | Data from millions of accounts shows that trading and profits are dominated by a tiny slice of highly active accounts. (www.bloomberg.com)
submitted 2 weeks ago by silence7@slrpnk.net to c/technology@lemmy.world
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[-] inari@piefed.zip 58 points 2 weeks ago* (last edited 2 weeks ago)

People losing money from betting? Who woulda thunk?

[-] Lost_My_Mind@lemmy.world 21 points 2 weeks ago

I think the fact that bots are winning makes this whole thing a scam.

[-] dou9m@lemmy.ca 27 points 2 weeks ago

They could have no bots at all and it would still be an obvious scam lmao.

[-] Akasazh@lemmy.world 13 points 2 weeks ago

Gambling is literally a scam. A very addictive one too

[-] IronBird@lemmy.world 7 points 2 weeks ago

the real $ in prediction markets (unless you have inside info) is in knowing how to arbitrage a spread, making a bot to do so is pretty straitforward.

that's how the majority of the stock market works as well, the biggest casino in town.

[-] dan1101@lemmy.world 11 points 2 weeks ago* (last edited 2 weeks ago)

Yep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.

[-] silence7@slrpnk.net 2 points 2 weeks ago

Not an unexpected outcome, but it's notably worse than with classic casino gambling because of the always-available model those firms have.

[-] Tollana1234567@lemmy.today 1 points 2 weeks ago* (last edited 2 weeks ago)

gamblers losing money , saying it aint so?

[-] CapuccinoCoretto@lemmy.world 5 points 2 weeks ago* (last edited 2 weeks ago)

I still can't believe prediction markets exist. Every bet requires a counterparty and information asymetry means its not a market, its a killing field going up against rigged bets just like this.

Billie, you're a genius

Enough to be a fool

A fool to gamble everything

And never know the rules

Some of us can only live

In songs of love and trouble

Some of us can only live in bubbles

  • The Magnetic Fields - My only friend
[-] SaharaMaleikuhm@feddit.org 4 points 2 weeks ago

What is this bs website? I get the article on half my screen. I am not reading that shit

[-] MedicPigBabySaver@lemmy.world 4 points 2 weeks ago

I liked: Last Week with John Oliver episode on these scam sites.

Just another straight up Scam by scumbags that lie and make up stories IN PLAIN SIGHT!

this post was submitted on 29 Apr 2026
154 points (100.0% liked)

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