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The key difference is that there's no single organisation which handles the operation of the market (including the transferring of funds). It's distributed across the entire Ethereum network, which should (in theory) be as hard to shut down as Bitcoin.

Here's a snippet from a relevant blog post: “The law does not prohibit the creation of open-source, decentralized prediction market software, nor the distribution of of cryptocurrencytokens.”

Still, it's very hard to tell, because this is fairly new legal territory. What's your take on it?

In that case, who's in charge of judging predictions true or false?
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