Predicting the Future ft. Stephen Grugett
The New Liberal Podcast
00:00
The Difference Between Prediction Markets and Problem Gambling
Markets produce a massive surplus to society in terms of the information and resource, better ways of like allocating resources across time. Knowing what the future is going to hold and on society's most important questions is just like a very valuable thing. So they're like versus, you know, gaming or like a slot machine doesn't provide any social value to anyone besides the entertainment value that provides to the individual person. I don't know if I'm like the smoker who loves cigarettes who is protesting that cigarettes are not really bad for society and we shouldn't regulate them," he said.
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