Buzzfeed News – In a new longform piece, past Fellow Andrew Rice examines the rise and fall of Intrade, a website dedicated to predicting (and betting on) real-life events, including politics, before it was shut down by the government. As Rice explains, the website was continually troubled, stymied by government regulations on gambling and struggling financially, but it attracted Wall Street professionals who saw no difference between betting on the website and their day jobs in finance. Intrade was a strikingly accurate predictor of outcomes and was supported by some economists as a source of data for market theory research before it was shut down. Read Rice’s full investigation of Intrade at Buzzfeed News.
