The patent.
The latest developments. (audio)
I am skeptical, since the US Congress has just outlawed movie prediction markets, but I wish good luck to Chris Rabelais et al. Maybe the political scene will be different next year, who knows.
UPDATE: As you’ve understood, I was talking about CFTC-approved real-money prediction markets, here.
Forbes:
Whether you think prediction markets are miraculous indications of the wisdom of the crowd or just fun betting markets is sort of beside the point. Nor does it much matter if the markets are accurate or vulnerable to speculative manipulation. What’-s key is that by hedging a tax increase, you are taking out a little insurance against that heaven-help-us event.
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