>>60775310
If it's a centralized site they would definitely try to crack down on it. However, the betting market could be entirely decentralized with cryptocurrency and smart contracts.
1. Publishing the bet on a blockchain.
2. Placing cryptocurrency in escrow administered by a smart contract.
3. Resolving the bet using an oracle or a second round of betting like this: after the deadline of the original bet is reached, people stake money on the outcome, which is now publicly known (Santa died or didn't die), after a short staking period, the minority side of stakers lose all their money to the majority side.
