Prediction markets are a hot topic again — even cartoon characters are talking about them (South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?We answer all these questions and more in this deep-dive featuring experts Alex Tabarrok (professor of economics at George Mason University) and Scott Kominers (a16z crypto research partner and Harvard Business School professor), in conversation with Sonal Chokshi.While we originally covered this topic during last year’s election, the discussion is more relevant than ever today, as we go into the claims people make about prediction markets — what they’re good for (and not); how they fit in with other trends like AI, futarchy, and the crisis in scientific publishing; and where blockchains and crypto come in.This is your definitive explainer on the topic.for transcript, links, and more: https://a16zcrypto.com/posts/podcast/prediction-markets-explained/ As a reminder: None of the following should be taken as business, investment, legal, or tax advice; please see a16z.com/disclosures for more important information. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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