Is alt data betting on prediction markets?
The Waters Wrap: Prediction markets are riddled with legal uncertainties, but they also might be one of the richest new data sources seen in years, writes Nyela.
The concept of prediction markets long predates the sites where they now primarily unfold—Polymarket and its rival Kalshi, which were each launched less than seven years ago. In fact, there’s evidence that bets occurred on the outcome of papal elections as early as the 1500s. More modern examples include the Iowa Electronic Markets, launched by the University of Iowa in 1988, which initially focused on political outcomes.
These days, you can place bets on sports, culture, politics, economics and
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