shyams, on 2024-August-31, 21:54, said:
You LOL'd to a post of mine about how the betting markets in the USA have progressed in the current month. Much of what I wrote in that post was verifiable via a Google search.
No one is disputing the fact that you cited.
People are LoLing at the claim that thin prediction markets have any value at, say, predicting what is going to happen especially in situations that bear such a strong resemblance to a meme stock.
In 2020, the share price of AMC was under 10 dollars a share
In 2022 it spiked to over $250
Today its under 5 dollars a share
Did the market fundamentals change that much?
We could repeat the same discussion for Game Stop, Bored Apes, or - most tellingly - Trump's SPAC
There's a whole bunch of idiots out there
Some of them are searching for bigger idiots.
Other are willing to set their $$$ on fire to signal that they belong to a cult