I offer you my apology! I never thought of it as catastrophic events insurance.
It’s true for Taiwan but could you do it for your personal health? I suppose in the future you might have a prediction market for your health vs health insurance! Who knows ? There are só many circles of capitalist hell we might yet invent, but i hope not.
I live in Taiwan
Can you find me an insurance company that will pay me out in case of a war with China? From what I see absolutely no one will insure that.
A $1k premium paid to Polymarket will cover me handsomely in the event of war and pay out instantly with no hassles.
A counterpoint to your hyperbole.