India, July 22 -- By Dr. Ankan Pal

New Delhi [India], July 22 (ANI): In a world driven by data, opinion trading, globally known as information markets, have emerged as a powerful mechanism for alleviating the accuracy of forecasting in multiple fields including economics, policy, sports, and politics. These markets allow participants to trade contracts based on the likelihood of future events and provide a mechanism of price discovery which reflects the crowd's aggregated wisdom, often proving to be more accurate[1] than surveys, expert opinions or traditional polls based on a small sample.

The concept isn't new - humans have long tracked markets for forecasting and understanding the sentiment and polarity.

The fascinating history of p...