Well, we’-re here to help out the lost souls. 
Director and Founder: Intrade
Privately Held- 11-50 employees- Capital Markets industry
September 1999 – February 2002 (2 years 6 months)
I was one of the founders and a director of the company Intrade which set up one of the first sports exchanges in Europe.
Nowadays there is a vogue for calling these businesses prediction markets…-which presumably mans there must be markets that don’-t predict events and trade on past [occurrence]?
No, it means that prediction markets are optimized for simplicity and usability —-as opposed to the other derivative markets, which are quite complicated and inaccessible to the mainstream people.