Are we going to see prediction markets enter mainstream journalism? Taylor Lorenz says yes
“If all of this sounds like a libertarian fever dream, I hear you. But as these markets rise, legacy media will continue to slide into irrelevance.”
Journalists will also face ethical dilemmas as prediction markets are normalized. Should reporters participate in markets they cover?
sorry, what exactly is the dilemma here? how is it an ethical dilemma to have an unethical way to make money?
The rise of prediction markets raises questions about ethics and regulation. Current platforms are primed for market manipulation, insider trading, and the potential for bad actors to game the system. Platforms will need to enforce rigorous safeguards to maintain credibility and prevent misinformation from being incentivized.
lmaooooooo
sorry, what exactly is the dilemma here? how is it an ethical dilemma to have an unethical way to make money?
I'm guessing what's being said is that in this fictional scenario with an ethically neutral prediction market, you could do insider trading but with fake news? Like, you predict that they will find cheese on the moon, and then you make a story about cheese on the moon.
Either way, it is a moot point since prediction markets are bunk, ethically or otherwise.
Oh lol, isn’t this what Hindenburg Research and others are doing, except on the real market? Shorting some company’s stock and then publishing news stories about how bad things are gonna happen to them is a very fun grift…
Guess what I’m saying is, wonder if an FTC with fangs wouldn’t treat prediction markets as an as-yet unregulated securities exchange…
Prediction markets create incentives for people with information to share what they know.
What? No they dont they create incentives for people to keep things secret and bet on them.
as is tradition, I’d just about managed to get to forgetting that Lorenz and her shitty opinions exist, but a.s has my back!
(and just to head off chud potential: it’s shit like this that I mean, not her being a woman or any other of the fucking strange complaints people have been attaching over the last few years)
FWIW, I read this somewhat charitably: I didn't read this article as "I want there to be prediction markets in journalism" as much as "The right-wing fuckos are very into this shit, so expect for it to froth up out of the sewers in 2025." That being said, as discussed elsewhere, many of the finer points are questionable.
N.B: I am not aware of Lorenz's shit opinions.
Only thing i can recall is her platforming the libsoftiktok woman and all the flak around that.
The weird right also hates her with a passion for unrelated things which honestly I cant recall right now. She is one of those women they clamped unto and never not talk about.
they're in a weird place - not always egregiously terrible in the immediate-eyeroll sense, but every so often some soar icarus-like to flagrant insensibility
(and this has happened enough times that I treat it a bit 🤨)