The authorsanalyze the extent to which simple markets can be used to aggregate dispersed information into efficient forecasts of uncertain future events.

The U.S. is at the forefront of the unconventionals revolution. By 2020, shale sources will make up about a third of total U.S. oil and gas production...by that time, the U.S. will be the top global oil and gas producer, surpassing Russia and Saudi Arabia, PFC predicts.

Last year's repeal of the final remaining vestige of Regulation Q, the prohibition of payment of interest on business demand deposits, at long last completed a pro-competitive process which began with the Monetary Control Act of 1980.  The repeal was and is a good idea.  We can easily see this by asking and answering half a dozen simple questions, to make the matter clear.

Should prediction markets fall victim to laws restricting gambling?

No president since Woodrow Wilson or Franklin Roosevelt has been more enamored with the cult of expertise than Obama. That none of his economic predictions have panned out is not surprising. What is surprising is that so many people are surprised.

Congress should create a regulatory pathway for prediction markets.