Tuesday, July 08, 2008 | 11:50 p.m.

Government Stifles the Wisdom of Crowds

by John Stossel

Who will be our next president? If you want an accurate guess, don't ask the pundits. Go where people put their money where their mouths are.

Intrade.com (www.intrade.com), for example.

It's a prediction market, basically a futures market like those where people bet on the future price of oil, gold and pork bellies. But at Intrade, people bet mostly on politics.

The prices on Intrade have been highly accurate predictors of the future. On TV, political "experts" ...

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Tuesday, July 08, 2008 | 11:50 p.m.
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