What Role Do Prediction Markets Play?

“You can't be afraid to fail. It's the only way you succeed - you're not gonna succeed all the time, and I know that.” — LeBron James

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Two high profile prediction markets bets tied to foreign leaders this year have reignited a debate about whether these platforms serve as a forecasting tool of sorts or are just avenues for market manipulation. 

The latest example came after the U.S. struck Iran’s Supreme Leader, Ayatollah Ali Khamenei. ...

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