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by Beijinger 42 days ago
Most people don't know, that "prediction markets" are acutally based on an idea by DARPA in 2002, after 9/11/2001.
2 comments

> Most people don't know, that "prediction markets" are acutally based on an idea by DARPA in 2002, after 9/11/2001.

Did they then use a time machine to go back to the mid-90's to pass the idea to Jim Bell so he could take the fall for some of the less attractive possible outcomes?

Prediction markets, by any reasonable definition, existed long before 2002.
Yeah. People have put together a Prediction Market Database [1] (in a Google sheet), I think it's pretty well sourced and shows a good number of both real money and play money prediction markets from before 2002.

DARPA did have a big role though, too.

[1] https://docs.google.com/spreadsheets/d/1vGjnJPxdnBKwag3Q9Uy_...