After successfully navigating the US presidential election, Interactive Brokers (IBKR, Financial) founder, Thomas Peterffy, highlighted the significant growth potential in predictive markets. Last month, Interactive Brokers launched a prediction service for the presidential election, offering "forecast contracts" that allow participants to predict political outcomes.
Since its launch, the ForecastEx product has seen trading volumes exceed $560 million by November 6. Peterffy emphasized the importance of rational approaches to market issues and encouraged public participation in these predictive markets to understand collective opinions.
Prior to November 5, many prediction platforms closely monitored the potential victory of Trump, despite diverging from numerous polls. Peterffy noted that grasping public consensus on pertinent issues aids future decision-making, suggesting it as a superior method for global management compared to current guesswork practices.
