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Ep. 81: Nathan Young on forecasting, prediction markets, and designing good policy.

FUTURATI PODCAST

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What Is a Prediction Market?

A prediction market, in its simplest terms, is that you say either where ther somethingwill happen or it won't. You give some percentage surety, and then you are rewarded in some currency if it happens or if it doesn't depending on what you said. For like, short term things, there may be financial markets up date slightly quicker, cas people have real incentives to kind of to jump in. But for really long term markets, a prediction, markets where you pay, don't have very good incentives, because you don't want to leave your money tied to an asset for years,. When you could just leave in an index fund and make more money at low risk. And so

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