Tuesday, July 03, 2007


Big Guns on Prediction Markets

Prediction Markets have been around for a long time, starting at the U. of Iowa. The American Enterprise Institute and the Brookings Institution have issued a joint manifesto about Prediction Markets. The All-Star list of authors include at least two Nobel Laureates. They say . . .
We argue that U.S. regulators should lower barriers to the creation and design of prediction markets by creating a safe harbor for certain types of small stakes markets. We believe our proposed change has the potential to stimulate innovation in the design and use of prediction markets throughout the economy, and in the process to provide information that will benefit the private sector and government alike.


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