Scott reviews the state of prediction markets after explosive growth, finding that most volume is degenerate sports gambling rather than useful forecasting, and proposes both technical solutions and two potential futures for the field. Longer summary

Scott Alexander examines the current state of prediction markets after their recent explosion in popularity, noting that while volume has grown from millions to billions per month, most of it comes from sports betting rather than the epistemic improvement he'd hoped for. He explores several problems: markets aren't asking the most important questions society needs answered; resolution criteria disputes ("rulescucking") create controversy; and there are concerns about insider trading and manipulation. He proposes solutions including a novel approach to conditional markets and suggests two paths forward: either creating user-generated, subjectively-resolved real-money markets (the "Siskind Cube"), or accepting that prediction markets' main value may be as training data for AI forecasters that could make the markets themselves obsolete by late 2026. Shorter summary

Scott Alexander presents a comprehensive FAQ on prediction markets, arguing for their accuracy, canonicity, and potential to solve the 'crisis of trust' in society. Longer summary

This post is a comprehensive FAQ about prediction markets, explaining what they are, why they are believed to be accurate and canonical, addressing common objections, and describing clever uses for them. Scott Alexander presents prediction markets as a potential solution to the 'crisis of trust' in modern society, arguing that they can provide unbiased, accurate predictions on a wide range of issues. The post also covers the current status of prediction markets and suggests ways people can help promote them. Shorter summary

Scott Alexander analyzes prediction markets on Twitter, FTX, effective altruism, and US midterms, discussing their accuracy and exploring the concept of 'scandal markets'. Longer summary

Scott Alexander discusses recent prediction markets on Manifold and other platforms, focusing on topics like Twitter's future under Elon Musk, the FTX scandal and its impact on effective altruism, and the 2022 US midterm elections. He analyzes the accuracy of different prediction markets and polling aggregators, and explores the potential benefits and risks of 'scandal markets' for public figures. The post also touches on regulatory challenges for prediction markets and some interesting market observations. Shorter summary

Scott Alexander reviews recent prediction market changes and defends the usefulness of prediction markets, focusing on Ukraine, Roe v. Wade, and other topics. Longer summary

Scott Alexander reviews recent changes in prediction markets related to the Ukraine war, the Supreme Court leak on Roe v. Wade, and other topics. He discusses the usefulness of prediction markets, arguing that their main advantage is not accuracy but trust, aggregation, and clarity. He also describes an experiment in market manipulation on Manifold Markets and its implications. The post concludes with a look at some interesting recent predictions on topics like dog cloning, anti-aging, and Chinese politics. Shorter summary