[basementcat]

"The Iowa Electronic Markets is a futures market run for research and teaching purposes. Traders can buy or sell real money contracts based on their belief about the outcome of an election or other event."

https://iemweb.biz.uiowa.edu/

[Ariarule]

While groundbreaking for its time (started 1988!), the IEM is a very poor substitute for PredictIt. While I could offer a half-dozen reasons why, some of which were noted in CFTC Letter 14-130 for PredictIT in the first place, it'd probably do to point out that their "current" markets consist entirely of:

* 2022 French Presidential Election Markets (I haven't looked at these too closely that maybe there's a reason they're still listed as "current" on the IEM site, but wasn't this election back in April?)

* 2022 U.S. Congressional Control Markets (3 Markets: Senate, House, and Overall)

If you're trying to use prediction market prices as a gauge of the state of the world, IEM is missing dozens of countries, does not give visibility into US state-level elections, and does not include the result of primaries or political events besides elections that nonetheless impact elections. The 2024 US Presidential election is not even on the radar yet there.

Credit where credit is due for the trailblazing, they're worth a look when they do have a market on an event going, and it's notable for being sort-of a proof of concept for prediction markets. But while IEM may now be the best fit within a particular niche in light of what's happened to PredictIt, it's not in the same league.