Prediction markets make it to the big leagues

Will the US and Iran reach a nuclear deal before 2027? Will the Cuban regime fall this year? Will France win the World Cup?

These questions are generating up to millions of dollars today on prediction markets — platforms where people wager on the outcomes of real-world events. If you’re right, you profit. If you’re wrong, you lose your stake. “Contracts,” or wagers, can be as cheap as $0.01,…

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