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Cake day: June 23rd, 2025

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  • The Chicago anti rave law that allowed cops to treat raves like crack houses and drug dens. That meant anyone at a “rave” could have all your equipment seized and you’d be arrested. They made the definition of a rags as a gathering of 10 people and a DJ. Now a DJ isn’t going risk his decks or records being taken by the cops. The property owner could have the venue seized too.

    So everything moved into the downtown Chicago clubs and because 21+ and way way more expensive.

    Eventually the modern rave became EDM fests because everyone got a piece of the $$.







  • Someone has to take the other side of the bet.

    Everything is a yes or no question. You can buy a yes or no option for anywhere between 1 cent and 99 cents. When an outcome is finalized, the side that had the correct prediction has their option goto $1.00

    So as an outcome becomes more likely, its price moves towards $1.

    So when you buy a contact for less than 50 cents you are buying the underdog, when it’s over 50 cents you are backing the favorite.

    Let’s say that the contact is if you will eat a sandwich today. I’m guessing most people will think you will eat a sandwich so the “yes” contract will probably cost 99 cents or so.

    If someone pays 99 cents for that option and you do eat a sandwich they get back $1 total, or 1 cent profit.

    Well what if I’m your doctor and you come in to me with food poisoning. Now I have inside information and I can buy an option that you will not eat a sandwich today for 1 cent and if you don’t eat a sandwich I’ll get back $1 for every penny I put towards the “no” outcome.

    So the big issue is people having inside information and using these prediction markets to illegally make money and it’s really hard to track.

    In the article, it appears that only 1 missile landed and that the only source for it was this author’s article. So the people that bet on the “no” outcome are trying to get him to change his article so the outcome is contested and they can maybe win their bet. They are using the position that what landed was a piece of a missile that was intercepted.

    There is now a huge financial motivation to report news that isn’t factual.