Posted by m-hodges 6 hours ago
Same way Binance did [1]. Assuming they wouldn’t get charged.
> Restricted Jurisdictions. You acknowledge and agree that you are not permitted to access, use or trade with the Contracts on the Platform if you are residing in, a citizen of, organized in or located in the following jurisdictions (collectively, the “Restricted Jurisdictions”): Australia, Belgium, France, Germany, Italy, the Netherlands, Ontario, Poland, Quebec, Russia, Singapore, Taiwan, Thailand, the United Kingdom, the United States; or a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions by the United States, including but not limited to Iran, Syria, Cuba, North Korea, and the Crimea, Dontesk and Luhansk regions of Ukraine.
Maybe I'm supposed to ignore that?
> Why predict the future when 73.4% of all Polymarkets resolve as No?
The author [page](https://github.com/sterlingcrispin) is there on github, but I can't even find his full list of his repos to confirm it's still there (I also get a 504 on that).
nice to see heroku still alive...
Say 70% of the time it resolves to ‘no’, you still don’t make money by blindly choosing ‘no’.
Guess why?
Hint: This strategy is also described with the macabre analogy: picking up pennies in front of a steamroller.
Do you want to pick up pennies in front of a steamroller?
Though I agree it's bad math, even if 70% resolve to no, there's a high variance among all of them, and to know whether it's a good bet or not... you have to do your DD on that particular market. Even if you follow the Kelly criterion, randomly choosing bets will probably tank your bankroll sooner or later.
No, all these variables cancel out.
If you were picking and choosing, yes. But this approach is basically betting no on all the markets.
The textbook explanation of this is the central limit theorem, proving this mathematically is a bit more involved for power-law systems like this but it’s empirically valid.
And the chance of losing at least once in a 99% sure bet after 100 rounds is around 60%. Even if you reduce to 30 rounds it still is around 30%.
This may seem smart at first glance, but the math doesn't really checks out.
But they aren't independent there are a lot of correlations. Global geopolitics for example.
The way the math works out, 73% of markets resolve to No, If you buy No at 0.73 each time you would break even.
Not financial advice of course