What is this Predictit thing anyway?

Simple Answer: PredictIt is a online website where people can place money on politics.


More complicated Answer: On PredictIt, you can buy "shares" of a certain thing to happen. If it happens, those shares (which you bought between 1 and 99 cents) are worth a dollar. For example:

Say you want 10 shares of Bloomberg to win the nomination (which would be extremely foolish).That would cost you $1, as his best offer price is 10 cents. (Note: do not be confused by the "latest yes price". That is just the latest price someone has sold shares of Bloomberg at.) If Bloomberg does win the nomination, that means that you make $10, with a profit of $9. Good Job.

Even more complicated answer: On PredictIt, there are 2 main ways of making money.

Way 1: Track motions as they happen and take advantage of being first to know. This usually involves the tweet markets and the speaking time markets, which we won't get into. This way of money-making is more profitable in the long run, but most people do not have time to track moment-to-moment movements. 

Way 2: Make predictions with a certain time-frame, or just regular predictions, and then only check every few days. This way is the way we will be mostly concerning ourselves with on this blog. Making predictions for what might happen, then setting goals for when to buy and sell.

Well then, I guess that's all. See you next time.

And welcome to PredictIt.

P.S. Polloi is from the Latin "Hoi Polloi", meaning "the many"