Prediction Markets – A new way to forecast the future

Prediction markets are speculative markets created to make predictions about a particular event. The resulting market price demonstrates the probability of the particular event.   Many private companies have started to use prediction markets for innovation, forecast particular events of interest internal and external to the company, and to select different company initiatives such as “marketing campaigns” (http://en.wikipedia.org/wiki/Prediction_market#Use_by_corporations).

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