Prediction markets are, perhaps, the final frontier of gambling.
Want to bet on Taylor Swift releasing an album this year, Ayatollah Ali Khamenei being ousted as supreme leader of Iran by the end of July or that Puerto Rican rapper Bad Bunny will say “f--- ICE” when he performs the half-time show at next week’s Super Bowl? All you need is a punter willing to take the other side of the bet, and you’re on.
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Gus McCubbing is a markets reporter in the Melbourne newsroom. He was previously the Australian Financial Review’s Victorian political correspondent. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com