Werner Antweiler

And so what happened in Ontario doesn't necessarily apply to the other provinces.

But so far, we haven't actually seen them springing up because the regulators here in Canada would probably look at it quite differently than in the United States.

And that's for good reason.

These prediction markets actually come with a number of

problems that regulators what I can need to deal with.

And they're really thorny issues.

Yeah, so there are two ways of problems.

One is you have a few investors coming in and putting a lot of money and sort of pushing aside all the small investors.

And so you can sort of corner the market, you can influence the prices that emerge, and then you can claim, oh, the price is going up, this event is more likely going to happen.

And so that could be generating news.

So there is the potential for manipulation when you allow basically investors to come in with any amount of investment.

We in our experimental market had a lid on it.

So the maximum we could invest was sort of capped.

And therefore, we didn't have that manipulation ability.

But it's a potential in all these commercial markets because, hey, they're just interested in taking the money.

They're not interested in getting the prediction right.

They're just interested in making a profit.

And he also mentioned the insider information that could be a big problem.

That is, so one of the prediction markets that are running commercially predicted the outcome, whether or not Maduro would be taken the president of Venezuela.

And of course it did happen.