Michael Burry slams prediction markets as 'gambling' enabled by loopholes
Business Insider
Michael Burry calls prediction markets gambling enabled by loopholes, warning they let users cheat and lose moneySummary
Michael Burry criticized prediction markets like Kalshi as gambling enabled by regulatory loopholes, arguing they allow cheating and insider trading and that ordinary users lose money, citing a Roosevelt Institute study that found users have lost nearly 600 million dollars since 2018. He warned that society lets these base human weaknesses run roughshod over logical and moral standards, and noted there is nothing preventing cheating in prediction markets, which he likened to an activity as old as gambling.
(Source：Business Insider)