Let there be flow - Tanner Hoke

In a prediction market, it is relatively more difficult: maybe you are trading with someone who has natural exposure to a Russian invasion and is just looking for a hedge, but more likely your counterparty is, like, a guy who speaks Russian and is in dozens of Telegram groups waiting for just the right moment to trade against your resting order.

The precision that makes them so theoretically useful is itself a curse for their liquidity, so prediction market evangelists should welcome all new traders with open arms.

This looks like a pretty reasonable plot of P(Russia invades Ukraine) over time. Except that, as was subsequently revealed, the image is in fact an edited version of a screenshot of this Manifold question, wherein the original price graph has been replaced with that of front-month Brent crude futures1 over the same time period. As it turns out, the... See more