Let’s say that prediction markets say Apple is going to buy Microsoft at such and such date, and there’s a big weird trade on it. That becomes news, which then folds back into the prediction market and changes the odds, which then, again, becomes news. This roundabout monetization of what is essentially a rumor mill is a problem. And that’s with something like CNN, where you have people who are actually paying attention to what counts and what matters.
1.5 years ago I
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