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Betting Against Ourselves: The Casino-ization Of America
The rise of prediction markets isn't just a financial story, it's a cultural one.
TL;DRAI
Schwab launches prediction markets on S&P 500: the boundary between investing and gambling fades. Margin debt rises as % GDP while leverage builds systemic fragility—liquidity events on borrowed money become trapdoors hitting indices and retirement funds.
2,495 words~11 min read
