A few days ago, I went down a rabbit hole reading about prediction markets, and somewhere down the line, I found something I didn’t expect. So what exactly are prediction markets, why are they apparently better informed than half our WhatsApp group chats, and is any of this even legal in Malaysia? What Are Prediction Markets Anyway? At their core, prediction markets are platforms where people can put money on the outcome of pretty much anything. Prediction Markets Aren’t Right About EverythingThe Anwar market is a good counterweight to that success story, because it shows where prediction markets get shaky: liquidity.