Prediction market

A prediction market is an addictive online form of gambling, whereby bettors place wagers on whether a future event will occur. The bets are nearly always in the form of a "yes" or "no" about an outcome in the future, such as whether a particular sports team will win a particular game.

Many states are suing prediction market companies, and asserting that their activities are illegal in those states. Countries that ban or sharply restrict prediction markets include Spain, Indonesia, Brazil, Argentina, France, Belgium, Italy, India, China, Japan, Thailand, Taiwan, North Korea, Syria, Cuba, and Iran.

Americans are losing billions of dollars annually to prediction markets. Only a tiny percentage of gamblers on this product end up ahead.