Why isn't it the point? The point of prediction markets is to distribution information. If you know a better source the prediction markets incentivize you to ag

Why isn't it the point? The point of prediction markets is to distribution information. If you know a better source the prediction markets incentivize you to aggregate that source and distribute that information widely. Once people find out, then that becomes the norm and the asset gets priced correctly. That's exactly the point of prediction markets. [EDIT] Didn't realize the first section of OP was a quote and not an argument. I agree with OP