How can we harness the wisdom of the crowd?
Simplifying Complexity
Prediction markets operate opposite to social media platforms by incentivizing diversity of opinion among participants. The market's incentive structure causes it to be depolarizing, attracting individuals with different views and preventing filter bubbles. This contrasts with social media platforms which tend to reinforce users' existing views. The insight highlights the power of prediction markets in challenging and diversifying opinions by attracting a variety of traders, ultimately leading to a more functional market.
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