Sports bets on prediction markets ruled to be "swaps," exempt from state laws
11 points by nradov
by csb6
2 subcomments
The key contradiction is that financial speculation and gambling are a distinction without a difference. Financial speculation is just now more accessible and widespread than ever due to the accessibility and aggressive promotion of gambling/stock trading/crypto trading apps/websites.
Rather than reigning in financial speculation and gambling our institutions seem to have resolved the contradiction by reclassifying gambling as a legitimate "market".
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