It isnt fully known but there are theories. One theory I think makes sense is that laughter evolved from play panting. Lots of animals when they are playing will breath differently (panting). Play is key for learning in animals and over time humans paired their understanding of play not just with physical learning but with mental learning as well. So, when we play in ocnversation, with jokes, or funny social situations, it releases similar chemicals in our brain as if we were learning something new through play, and triggers a breathing response.
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