An account trading under the username “Magamyman” made more than $553,000 placing bets on the prediction market Polymarket that Iran’s Supreme Leader, Ayatollah Ali Khamenei, would be out of power just before an Israeli strike killed him on Saturday.
…Under U.S. commodity trading laws, making trades based on death and war are illegal, since those kinds of bets create a financial reward for violence, human suffering and geopolitical instability.
There’s a big gap between having a punt on two-up and incentivising blokes to throw their life savings away on whether 100 kids will be vaporised in class tomorrow.