Nice article! I do have a few questions though.
What prevents people from creating fake prediction markets about an event, where they trade on the market and manipulate the result themselves.
e.g. a person creates a market about the winner of a football game. They start trading and decide to bid on the clear loser. But then, after the game is over, even if the team lost, they say that it actually won. Then they can make a massive amount of money without making any predictions.
With it being very easy to create prediction markets, what happens when there are thousands of prediction markets based on, say, the price of Bitcoin. How does one even choose which one to use? The one that would pay out the most to them?
I’m definitely upvoting and following you!
@shredz7