More Prediction Market Resouces

The best way to see how prediction markets work is to see them in action. Below are some actual markets that can give you a sense of what exactly prediction markets are and how they can be used to generate insights and forecasts.

1. “And the Oscar for Best Picture Goes to….”: the Hollywood Stock Exchange is one of the most established prediction markets. In 2006 it correctly predicted 7 out of 8 of the major Oscar awards.
2. “And the next President of the United States is….”: the Iowa Electronic Market is one of the oldest and most well known prediction markets out there, allowing participants to purchase futures in events in areas such as politics and macroeconomics.
3. “Our revenue from New Products in 2008 will be….”: Inkling Markets can help companies establish internal prediction markets to help in such areas as business forecasting and new product development. Companies such as Cisco, Chrysler, and Abbott Labs have use Inkling to establish their own internal prediction markets.