Myth: Event contracts are gambling dressed up as finance — Reality: a regulated mechanism for information aggregation
Start with the misconception because it’s common and stubborn: many people hear “prediction market” or “event contract” and the mental shorthand is casino—odds, luck, and a roll of the dice. That framing misses the mechanism that makes event contracts different from ordinary gambling: they are structured claims about a specific, verifiable future state, traded on […]