Coinbase slams the CFTC for attempting to ban smart contracts prediction markets as they consider them injust and can prejudice too many platforms. This comes after a group of senators on the house of representatives discussed the issue as their consider the existence of this kinds of platforms dangerous as they can interfere in the elections.
They think that voters could just vote to make money not to choose the competent person to run the US or any other president around the world. This may be coming out as prediction markets such as Polymarket has million in bets from the election in November. This bureaucrats are trying to ban this smart contracts prediction markets as they feel voters may be driven by money not their willing to see the US being ruled by a president with competence.
Polymarket is the largest decentralized prediction market in the world, where gamblers can bet on anything that the site provide. The hottest prediction market right now is the upcoming US elections where Donald Trump and Kamala Harris are side by side with 49% each of them. Of course it's a prediction and not interfering in the American election as not every person will be using the market but it seems everything for this bureaucrats is dangerous for their "democracy".
The world shouldn't be ruled by authorities even in small things such as prediction markets. This smart contracts are built to produce money to the ones who love to bet like everything in the world. The traditional already have casinos so, why not prediction decentralized markets? Remember:
CONTENT IS KING!