The Legal and Ethical Quandaries of Opinion Trading Platform
Recently, the market regulator, Securities and Exchange Board of India (SEBI), cautioned investors against dealing with ‘opinion trading platforms,’ a new segment in the country’s burgeoning online real money gaming and betting market, which allows users to win money by placing bets on the likelihood of a real-life event taking place.
What are opinion trading platforms?
- Opinion trading platforms are those where users bet on binary (eg: “yes/no) outcomes of sporting events, political events, and even the weather.
- They rely on chance, not skill or strategy. Many operate on a “house versus player” model, where the platform acts as the ....
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