Well, I should clarify that I think a smart bias-educated person can beat the prediction markets fairly easily - I doubled my (small) investment in the IEM just by exploiting some obvious biases in the last presidential election, and I know I'm not the smartest bear around. My doubt is whether he can beat the market enough: any sum of money CronoDAS has is likely small enough he would need really absurd returns.
Are there differences between prediction and markets that make it easier for a "smart bias-educated person" to win fairly easily?
If you think its fairly easy, then I'd be curious to know whether you're putting your money where your mouth is... how much have you invested?
Here's our place to discuss Less Wrong topics that have not appeared in recent posts. Have fun building smaller brains inside of your brains (or not, as you please).