The Ringer recently featured an article on PredictIt — a “prediction market for politics.”
The site basically offers prop bets between two people that an event will or won’t happen. Peruse through PredictIt and you’ll see:
- Will Mark Zuckerberg testify to Congress before June 30?
- Will Kim Jung-Un be North Korea’s leader at the end of 2018?
- Who will be the 2020 Democratic nominee?
- Will the U.S. government shut down PredictIt by April 2018?
Kidding about the last one.
Um, so isn’t this basically sports betting?
Seems that way. Betting big on a government shutdown isn’t much different than say, betting $2,000 to win $26 on an NCAA tournament game.
Although, oddly, a PredictIt wager on Trump tweeting actually seems like a safer bet.
The old Bodogs (now Bovada), Paddys, and other bookmakers have gained good PR off of these more everyday props for years. However, they’re still props, and whether the wager is against the house or a peer, you’re making a bet.
So yes, this is basically sports betting. And it’s open for business in the U.S.
PredictIt is based in New Zealand