Why Polymarket is bad?
Critics point to several concerns about Polymarket: Insider trading - Documented cases of insiders betting on military operations with non-public information. War betting ethics - Serious ethical concerns about betting on wars and military conflicts.
Manipulation - $30M pro-Trump bet raised manipulation concerns. Most users lose - 70%+ of users lose money. 1% of accounts make 67% of profits.
False information - NY Times found hundreds of false posts on Polymarket social media. Regulatory issues - Multiple countries have banned it. VPN bans - Users have had funds frozen.
These concerns have led to calls for bans or better regulation.