People who have talked to me before will likely know that I really really really do not approve of the idea of gambling. Gambling is a racket by which everyone knows that they will lose on average, but want to try anyway on the false hope that maybe they'd strike it rich. Everyone who's a serious gambler would want that, and therein lies the catch. Seriously, gambling is a big scam that is effectively a tax on the dim witted.
Allowing large scale gambling serves only to turn things somewhat sour. Inevitably, some poor sod would get addicted to the thrill of nearly losing money and wind up losing oodles of it. That, or just sheer bad luck wipes everything out. Then he/she would get upset and likely do something desperate to make up for the very real loss. The list of perps is long, including leveraged financial WMDs, noise trading, honest to goodness casino-style gambling...
It does not help to set up barriers to entry. Someone intent enough on participating will find their way in one way or another. Exotic derivatives can be cooked up to allow trading that was previously forbidden. Sometimes, the only real solution is to say no. Otherwise, it is only a matter of time before illegal moneylenders and other criminals begin to have their say.
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