Prediction Markets: A Most Peculiar Investment

These ETFs, however, are… different. They’re not quite like anything we’ve seen before, and that’s putting it mildly. They aren’t offering exposure to the underlying things being predicted – the companies, the economies, the slightly worrying trends. They’re offering exposure to the prediction itself. Which is, if you think about it, a bit like buying a map of the territory instead of the territory itself. (And then complaining when the map doesn’t quite match reality. Which, naturally, it never does.)








