Predictive markets

Predictive markets are online platforms where people buy and sell contracts based on their forecasts of future events, such as election outcomes or economic indicators. The prices of these contracts reflect the collective probability experts assign to each event happening. In essence, they act like a thermometer of public or expert sentiment about future events, utilizing market dynamics to aggregate diverse information efficiently. This helps individuals and organizations make informed decisions based on the consensus odds derived from the crowd's aggregated insights.