Prediction Markets
Prediction markets allow you to bet on nearly any event for which the outcome is uncertain. For example, prior to the 2012 U.S. presidential election, you could have wagered on whether Barack Obama or Mitt Romney was going to win the electoral vote. You can also bet on which country will host the next Summer Olympics; whether Steven Spielberg will win an Oscar in the coming year; and whether Israel will make peace with Hamas before the year ends.