As a pro #poker player & risk taker, I've always loved betting on random things. Now for the first time ever, there's a market where you can bet on what you believe. Here's a short overview of prediction markets and why they're going to be HUGE in the future. @alectorelli


Prediction markets are far more accurate than virtually any news outlet because people have financial incentive to seek the through. If they're wrong, they'll lose money. If they're right, they'll win. It doesn't get more efficient than that. @alectorelli

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Second, there's the excitement of betting on what you believe, and being rewarded for it. For example, I just made a large wager on the short term future price of NFT's, based on my theory that we're in a temporary bubble. (My thoughts are here) @alectorelli

Prediction markets are needed because traditional media outlets have little incentive to accurately report the likelihood of an event transpiring. Ex: on the day of the CA recall, the news reported that 'Newson could still lose'. On prediction markets, Newson was 95%+. @alectorelli

If you'd like an overview of how prediction markets work, how you can bet on anything and an overview of how to use my favorite one, check out this short video. @alectorelli