Are Prediction Markets for Real? — Market Mad House

The impending US presidential election has many asking are prediction markets for real?

To explain, a prediction market is a platform that takes bets on the potential outcome of events. The idea behind prediction markets is that bettors are more honest than poll respondents and experts.

How Prediction Markets supposedly Work

For example, a person who dislikes Donald J. Trump (R-New York) but thinks Trump will win next year’s election may not admit it. However, that…