Latest Business News, Market Insights & Global Economy Updates
Prediction market traders consistently beat professionals in forecasting inflation, especially when the readings deviate from estimates by a greater amount, according to a study by prediction market Kalshi. Comparing inflation forecasts on its platform with Wall Street consensus estimates, Kalshi found that market-based traders were more accurate than conventional economists and analysts over a 25-month…
Coinbase (COIN), the crypto exchange that plans to add prediction markets to its platform, is taking legal action in Connecticut, Illinois and Michigan over the states’ attempts to regulate those markets. The company filed lawsuits to “confirm what is clear,” Chief Legal Officer Paul Grewal wrote in a post on X on Friday: that prediction…
Brian Armstrong’s last-minute crypto shout-out turned a $4,000 prediction market into a punchline. With a few words, the Coinbase CEO made every bet on “Bitcoin,” “Ethereum,” and “Web3” pay out at once. It was a thin market, where the largest winner took home only $111, according to Poymarket Analytics. But if Armstrong’s impromptu word salad…
