In the crypto world, Hedgehog Markets is built around this concept—you stake your money in a tournament, and then bet with their play money; the staked rewards go to the winners, and everyone gets their initial money back.
At https://manifold.markets/ we elected to start with fake internet points, but hope that careful rationing of the fake points can make them valuable the way in-game currencies can become valuable.
One more spinoff of your idea—if the information provided by the prediction market is valuable enough, perhaps the platform could pay out without ever having to take in money, and not qualify as gambling. Eg if the platform sells early access to market data to a hedge fund and distributes the proceeds to its users?
Oh wow, that’s cool! Do you know how Hedgehog invests the play money?
Your last idea is a lot like a company giving bonuses to internal forecasters, seems promising. If prediction markets prove themselves worthy, maybe an EA organization will eventually decide it’s worth it to regularly sponsor forecasting tournaments for global priorities work. I’m excited to see where the space goes.
In the crypto world, Hedgehog Markets is built around this concept—you stake your money in a tournament, and then bet with their play money; the staked rewards go to the winners, and everyone gets their initial money back.
At https://manifold.markets/ we elected to start with fake internet points, but hope that careful rationing of the fake points can make them valuable the way in-game currencies can become valuable.
One more spinoff of your idea—if the information provided by the prediction market is valuable enough, perhaps the platform could pay out without ever having to take in money, and not qualify as gambling. Eg if the platform sells early access to market data to a hedge fund and distributes the proceeds to its users?
Came here to say this.
Oh wow, that’s cool! Do you know how Hedgehog invests the play money?
Your last idea is a lot like a company giving bonuses to internal forecasters, seems promising. If prediction markets prove themselves worthy, maybe an EA organization will eventually decide it’s worth it to regularly sponsor forecasting tournaments for global priorities work. I’m excited to see where the space goes.