100 sats \ 4 replies \ @Cje95 28 Sep \ parent \ on: How shitcoining ruins equity Stacker_Stocks
I am not sure why they would want to issue their own token tbh... they already have raised money from the likes of Mark Cuban and others and I am sure those guys would give them more if they need it.
This is def a hype bubble it is facing though because election betting is illegal in the US so the major books cant get in. I am not sure that Polymarket has to much of a future besides elections and other smaller niche things. I am sure they want to try and just take even a slice of the sports betting market in the US but honestly... not worth it.
Right now they are outside SEC jurisdiction and just won against whatever government agency was suing them. Issuing a token only brings them SEC hell... seems hella stupid to me but I'm just one guy lol
Only part I disagree with you on is being unsustainable... I think if it stays small with its election type markets it has a shot of being fine and operate but that isn't going to make a ton of money either which depending on these developers might be the issue.
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Yeah its one of those for election season they will reap the rewards so I guess if they become a every 2 year phenomenon then okay they just have to navigate the cycles. Long-term feasibility just doesn't seem to be there and launching a token I think could be the quickest way for them to blow themselves up
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Have to wonder if some of those big name investors are expecting a bull market and looking to maximize return on their investment on what would probably initially be a very popular token. I think that would be short lived but they could get it to pump long enough to make a killing.