Jul 1, 2026 · 6 min · 4 segments
Imagine a world where you can bet on anything. Celebrity breakups? Bet. Oil prices changing with the winds? Bet on it. Foreign leaders deposed seemingly out of nowhere? Bet on that too. Ballistic…
Hannah RaineHostThese guys are arguing that there's no incentive on their platforms for people to lose, and that they don't directly profit from losses, but instead from small fees on trades that are made between the users, and those users continuing to use the platform.
So if you want, if you want-
... to bet, I think they take a fee off of what you're betting.
But can you imagine why that doesn't necessarily make this not gambling? [laughs]
Well, yeah, I mean, you can bet against another person and it still count as gambling.
Like, I g- I get the distinction between that and a casino, which is sort of a place specifically designed for that type of activity, and where, yeah, that's their main business.
And the actual behavior of it, like, the psychology of it is still gambling.
That is-
... they're, I feel like they're, they're getting really technical and loopholey about it, but the actual just when you get to the kernel of the behavior and what people are thinking when they're doing it, why they want to do it, all this stuff-
... is basically gambling.
Did you know you need, like, licenses to have, like, raffles and shit because that's considered gambling?
Yeah, gambling regul- regulations are, like, really intense, especially in Ontario, except when Doug Ford-
... got in, obviously, he went crazy.
[laughs] So economists have argued that the distinction between stock trading and gambling is this, 'cause I wasn't sure, and I'm still like, you know what, I'm someone who loves to be like, "The economy's fake," 'cause I can't see it, and to me, stock trading is basically just high-end gambling for men who wear Armani suits.
But this is what they distinguish it with, which was interesting to learn about.
They say that stock trading is supposed to produce economic activity, like boost the economy, with the idea that investors lend money to companies and governments with the expectation that they'll make fiscally responsible decisions, and to build their own wealth over a p- like, for these investors to build their own wealth over a period of time.
So it's kind of like a checks and balances thing against these companies and governments.
This is how it's envisioned.
And then also, you're, you're putting in stock, so that's slowly, you know, in 20 years, you're gonna have accumulated this money.
These guys are arguing that there's no incentive on their platforms for people to lose, and that they don't directly profit from losses, but instead from small fees on trades that are made between the users, and those users continuing to use the platform.
So if you want, if you want-
... to bet, I think they take a fee off of what you're betting.
But can you imagine why that doesn't necessarily make this not gambling? [laughs]
Well, yeah, I mean, you can bet against another person and it still count as gambling.
Like, I g- I get the distinction between that and a casino, which is sort of a place specifically designed for that type of activity, and where, yeah, that's their main business.
And the actual behavior of it, like, the psychology of it is still gambling.
That is-
... they're, I feel like they're, they're getting really technical and loopholey about it, but the actual just when you get to the kernel of the behavior and what people are thinking when they're doing it, why they want to do it, all this stuff-
... is basically gambling.
Did you know you need, like, licenses to have, like, raffles and shit because that's considered gambling?
Yeah, gambling regul- regulations are, like, really intense, especially in Ontario, except when Doug Ford-
... got in, obviously, he went crazy.
[laughs] So economists have argued that the distinction between stock trading and gambling is this, 'cause I wasn't sure, and I'm still like, you know what, I'm someone who loves to be like, "The economy's fake," 'cause I can't see it, and to me, stock trading is basically just high-end gambling for men who wear Armani suits.
But this is what they distinguish it with, which was interesting to learn about.
They say that stock trading is supposed to produce economic activity, like boost the economy, with the idea that investors lend money to companies and governments with the expectation that they'll make fiscally responsible decisions, and to build their own wealth over a p- like, for these investors to build their own wealth over a period of time.
So it's kind of like a checks and balances thing against these companies and governments.
This is how it's envisioned.
And then also, you're, you're putting in stock, so that's slowly, you know, in 20 years, you're gonna have accumulated this money.
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