Bloomberg Discovers War Profiteering, Minus the Actual Profiteers
The story laments platforms testing 'legal and regulatory norms' by allowing direct wagers on war outcomes. One might wonder if Bloomberg extends this ethical angst to defense contractors whose stock prices soar with every new conflict, or the politicians who champion these wars while accepting hefty campaign donations. For instance, Senator Tim Kaine, a consistent voice for continued military
action, received over $100,000 from defense industry PACs in 2022 alone, according to OpenSecrets.org. Are those 'legal gray areas' or just business as usual? It appears the 'line' isn't about profiting from human suffering at all, but about who gets to do the profiting. Gambling on the stock market performance of Raytheon (whose shares increased by 15% in 2023 amid global conflicts) is
'investment'; betting on Polymarket is 'morally questionable.' The media's indignation often points away from the real architects and beneficiaries of perpetual conflict, neatly packaging the story into a critique of individual speculation, not systemic war profiteering. Convenient, isn't it?