Mel Abraham argues prediction markets are gambling, not investing. You buy binary contracts that pay $1 or $0, sometimes settling in 15 minutes. Any profit requires someone else to lose, making it a zero-sum game dressed up as trading.
Millions of people are pouring money into this right now, and it is not an investment at all, even though they're trying to say it is. Prediction markets. This gets a fat 0 out of 10. You buy a yes or no contract on a real-world event. If you're right, you get a dollar. If you're wrong, you get zero. There are contracts that settle in 15 minutes. That's not an investment horizon. That's a commercial break. For you to win, someone else has to lose. That's a wealth transfer with a ticker symbol. Dress it up in a trading app all you want. It's still the roulette wheel wearing a suit.
