Prediction markets are a zero-sum game.

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Did you lose money betting on InTrade, lately? Well, your money ended up in the pocket of that guy:


UPDATE: There was nothing about &#8220-hating the game&#8221- in my post. It was just a reference to the &#8220-sheep and wolves&#8221- concept floated by Robin Hanson. (See also the Iowa Electronic Markets research on their traders.)

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