alt Hacker NewsThe disaster is the consequences of people treating the data generated by these prediction markets as revealing some sort of insight into future events, rather than just a silly game played by silly people.
The disaster is the consequences of people treating the data generated by these prediction markets as revealing some sort of insight into future events, rather than just a silly game played by silly people.
It's actually not a terrible idea to take some insights from prediction market data.
For example, you can expect the data to closely correlate to poll results for elections, because when it doesn't... people will notice and correct it.