Source: The Daily Economy
by Christopher Freiman
“The main moral objection to prediction markets seems to be that it’s wrong to profit from someone’s misfortune. And intuitively there does seem to be something immoral about raking in thousands of dollars because you correctly predicted that a hurricane would hit a particular city or a particular war would break out, resulting in tremendous amounts of suffering. As Moscrop puts it, ‘Bettors will hold financial stakes in particular outcomes, including some of the most heinous events imaginable. It’s a fundamentally cynical and dehumanizing turn.’ But as natural as the gut-level unease with prediction markets is, we shouldn’t trust it. Prediction markets are both useful and morally benign. Prediction markets are useful precisely because they incentivize accurate forecasting.” (02/06/26)
https://thedailyeconomy.org/article/the-ethics-of-betting-on-future-bad-news/