The fees are too high If you trade TradFi , the trading fees are minimal. Playing zero sum games is fun but when the game is -7% EV based on fees, the edge required to stay profitable is too high It becomes a vicious cycle of declining volume and liquidity If you click something with huge fees, you need to have big conviction and be certain that it will move/ you will win the bet. Swing trading is dead. If you regret clicking something, and want to sell it, you already paid a ton in fees and then in spread, meaning the only people who click stuff will be either people with big edge, or really dumb money As the competition for dumb money is high, getting filled takes longer, and you decide to just not trade because leaving a bid on something fast moving is likely to get adversed, meaning massively declining volume and less vibrant markets I guess many of the recreational gamblers who would otherwise lose on sportsbooks with worse prises are not very price sensitive, but for political / tech / AI / econ markets where we do not have a ton of recreational gamblers, the fees are destroying liquidity I would suggest PMs to cut their fees to sub 0.5% at 50c shares, at that point I would probably ignore fees and trade a lot more.