This information value is significant enough that people check prediction markets for real-time updates on events; some (e.g. The Base Rate Times, Polymarket, Kalshi) are building out media coverage and newsletters based on this data.

Oftentimes with surprisingly little liquidity, prediction markets prove highly accurate and robust in the face of interference. The "wisdom of crowds" phenomenon ensures that these markets frequently outperform traditional forecasting tools like polls. For instance, the University of Iowa operates the Iowa Electronic Markets (IEM) as a research pro... See more

As desire for single-origin coffees spread, shops would sell 10 or even 20 different coffees. With only two or three brewed coffees for sale, café goers wouldn’t be able to sample most of the offerings

The solar panel is wizardry manifest. It literally prints energy from free shit that falls out of the sky.

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.

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.

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