mattnewport comments on Creating a Less Wrong prediction market - Less Wrong

6 Post author: Kevin 26 February 2010 11:48AM

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Comment author: mattnewport 26 February 2010 06:33:48PM *  2 points [-]

Real money would definitely be preferable but I'm pretty sure that idea is a non-starter. You run into gambling regulations with prediction markets and it appears that it is currently pretty much impossible to run any kind of gambling operation in a way that is reasonably accessible to anyone in the US. US credit card companies generally aren't allowed to process payments for online gambling sites. Even outside the US there is a minefield of regulation to navigate.

InTrade suffers from this - even though I live in Canada rather than the US I haven't been able to fund my account with a credit card.

Comment author: Blueberry 28 February 2010 01:14:04AM 0 points [-]

We could just do it just like the informal bets here: trust each other to PayPal the money to the winner, or bet charitable donations.