Agree, tangible incentives are important. But non-monetary prediction markets still have other benefits over traditional forecasting: (1) Traders only make pre

Agree, tangible incentives are important. But non-monetary prediction markets still have other benefits over traditional forecasting: (1) Traders only make predictions in markets where they think they will gain; (2) Traders control their risk, so one very confident person can make a larger bet than 10 people who are not very confident; (3) Markets are continuously updated as new information arises; (4) Profitable traders trade more, while losing traders exit the market