The Future of Prediction Markets

I've known about prediction markets for longer than almost anybody else because I was corresponding with Robin Hanson back before he switched field from became an economist. But in Prince of Honor, Robin's idea of course is that you want the prediction market as a way of generating information. And his idea was a stock market has as its nominal function allocating capital and just as a side effect generates information. So no, they're a neat idea. Some of them have always existed if you think about futures markets for agricultural products are a prediction market. The ones I know about seem to have limits in the size of the bets you can make and in the amount of house cut if you want to take your money