Betting on the future
: At Iraq the Model, I come across an ad for a service I hadn’t seen before: Intrade, a market — not a betting service — for futures trades on events — and not just entertainment and sports. The theory is that these open markets will gather the wisdom of the crowds. The wise crowds say the 2012 Olympics will go to Paris or London over New York, Michael Jackson will get convicted of something, and there’s only a middling chance of bin Laden’s capture. What’s intresting is that they have bets going on Middle East politics and events and they advertised on an Iraqi blog. Now that’s targeting.