[somat]

Whats the difference between a prediction market and a futures market?

Which sounds like a joke. But I am unable to think of one right now.

Actually... how is this different from the stock market. You buy and sell based on how the market is predicted to go..

[cman1444]

I'm no expert, but I assume the difference is the underlying asset that you're betting on. Stock vs commodity price at given time vs "event coming to pass or not".

[gruez]

The difference is that you can bet on real life events (or anything, really) rather than being limited to financial instruments.