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If Median Strategies turns out to be a deception effort to manipulate prediction markets, we have been here before. After Black Monday and the 1929 stock market crash Congress enacted laws to stop deception, fraud and insider trading. Unregulated prediction markets are speed running us to 1929

“The key theme of the federal securities law is disclosure.” “In many cases, the promises made by companies and brokers had little or no substantive basis, or were wholly fraudulent…” “In response to this calamity, FDR…”

www.law.cornell.edu/wex/securiti...

“19 economists made their pitch in a 2008 Science paper, “The Promise of Prediction Markets,”…” www.cnn.com/2026/06/21/b...

With hindsight it seems clear that these 19 economists did not think enough about political economy—for ex how the wealthy would exploit info from prediction market betting games, and manipulate it to cheat normal people. Per @mcopelov.bsky.social : we don’t think abt political economy enough