A federal appeals court ruled Friday that states can regulate prediction markets like gambling, dealing a major blow to the booming industry.
A federal appeals court ruled Friday that states can regulate prediction markets like gambling, dealing a major blow to the booming industry.
It has some correlation, though 2008 wasn’t because of the stock market. It was an issue with loans and banks. It affected the stock market, and caused a large downturn, but the stock market didn’t cause it.
I’m not educated enough in 1929 to make a comment, but I believe it was similar there. The stock market crashed, but it was an effect, not a cause. It can be an indicator of bad things happening in the economy, but it is not the economy.