forecasting.substack.com
In short…
- Forecasting platforms and prediction markets are partially making the pie bigger together, and partially undercutting each other.
- The forecasting ecosystem adjusted after the loss of plentiful FTX money.
- Dustin Moskovitz’s foundation (Open Philanthropy) is increasing their presence in the forecasting space, but my sense is that chasing its funding can sometimes be a bad move.
- As AI systems improve, they become more relevant for judgmental forecasting practice.
- Betting with real money is still frowned upon by the US powers that be–but the US isn’t willing to institute the oversight regime that would keep people from making bets over the internet in practice.
- Forecasting hasn’t taken over the world yet, but I’m hoping that as people try out different iterations, someone will find a formula to produce lots of value in a way that scales.
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Notes -
Yes, and the Augur 2.0 solution was to add in an option for people to bet on whether a market was invalid in the market itself.
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