Looks like "smart contracts" are no match for old fashioned lying/scams.
doodlebugging•1mo ago
Degenerates. Gambling on situations like this attracts the worst people in society. It would be no surprise to find these people also deeply into crypto scams or scams that rob the elderly or managing businesses that overcharge poor people because those poor people have no other local options but to use that business.
vdupras•1mo ago
Wherever there's gambling, there's sharks. If you don't know whether you're a shark or a fish in this pond, then you're a fish.
Lapsa•1mo ago
what about the turtles?
Acrobatic_Road•1mo ago
Not the first sketchy Polymarket resolution. It's also worth noting the rules can change on the fly. Earlier this year ISW changed how they map the war in Ukraine by introducing "Russian infiltration areas" where in the past they would have said "Russian-controlled territory". Polymarket updated the rules to say "Russian infiltration areas" wouldn't count if you are betting on a "Will Russia capture X?" market. Great news if you're betting on Ukraine, not so great if you're betting on Russia.
DANmode•1mo ago
Other notable ones?
Acrobatic_Road•1mo ago
The Fordow (Iran Nuclear power plant) market was disputed several times because it wasn't clear whether the facility was destroyed by the US attack. The rules said it had to be confirmed by the IAEA, and many people figured they wouldn't be able to access the facility. However, the market resolved as destroyed because of some comments made by IAEA's director in a French radio show.
Acrobatic_Road•1mo ago
It technically resolved according to the rules of the market. A lot of traders on Polymarket seem to place bets on what they think is happening on the ground, when its been clear to me a while, that the key to winning is understanding how and when the sources will report the facts. And now I should add "whether".
morshu9001•1mo ago
I've always wondered how the resolution mechanism can be trusted. Won't someone with enough money rig that? It's not like PoW or PoS where a cheater with huge resources would ruin their own stolen money.
DANmode•1mo ago
“Priced in”.
ChrisArchitect•1mo ago
Related:
America's betting craze has spread to its news networks
killingtime74•1mo ago