Yeah yeah! You can make as much fun of us as you want. Maybe do some research or read more about it. Prediction Markets have been used not only for making money but also hedging your risk. Your auto/home/health insurance is nothing but a prediction market in disguise.

For a start, here is a how Prediction Markets are used for Risk Management:

Now relate this to your auto/home/health insurance and see how Prediction Markets play a role in your everyday life.