I started the process to accept this free money, but once I read enough of the fine print I bailed. Basically, if PredictIt is taking a 5% cut of my withdrawals, then I’m going to lose money if it so happens that I can’t get enough of this contract. It feels more like even-money gambling, where I lose if the PredictIt market happens to lose liquidity by the time they verify me, and I win if I actually fill out all the forms in time. If there were more money at stake, maybe I’d work a bit harder to jump through all the hoops, but it just isn’t worth it to riskily earn $20.
I started the process to accept this free money, but once I read enough of the fine print I bailed. Basically, if PredictIt is taking a 5% cut of my withdrawals, then I’m going to lose money if it so happens that I can’t get enough of this contract. It feels more like even-money gambling, where I lose if the PredictIt market happens to lose liquidity by the time they verify me, and I win if I actually fill out all the forms in time. If there were more money at stake, maybe I’d work a bit harder to jump through all the hoops, but it just isn’t worth it to riskily earn $20.