The growth of prediction markets has created sufficient liquidity for structured product issuers to consider new types of products.

Prediction markets can trace their roots back many centuries and have links with financial markets and betting in a wider context. Twentieth-century advances included various academic works on knowledge, behavioural analysis and the efficient market hypothesis. The first platform to be a true forerunner of today’s prediction market was Intrade, based in Ireland and launched in 2001 Prediction markets apply these principles to events instead of assets. The first modern application was t