Alex Goldenberg faces a direct challenge to his premise that prediction markets are inevitable. The author questions why gambling opportunities now dominate 24/7 when considered a social disease until recently. Gambling remained illegal except in limited circumstances for decades, suggesting a fundamental shift in societal attitudes toward speculative activities.

Current tax code allows gamblers to claim certain losses as deductions, creating a favorable environment for prediction markets to expand. The author notes this tax treatment contradicts historical approaches to gambling regulation, which typically discouraged such activities through legal restrictions and unfavorable tax treatment rather than outright bans.

Rather than advocating for more regulations to micromanage prediction markets, the author suggests taxing the practice to shrink its scale. Given the government's struggles to control even basic activities, additional laws may prove ineffective. The focus should be on changing economic incentives rather than creating complex regulatory frameworks.