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The first NGDP futures market is getting started based on the ideas of economist Scott Sumner. The idea is that the expected U.S. NGDP (nominal gross domestic product) is the single most important macroeconomic variable, and that having a futures (prediction) market will provide valuable information into this variable (Scott estimates that if it works, it will be worth hundreds of billions of dollars).
Unfortunately, due to US gambling laws (I think), the market will be based in New Zealand and U.S. citizens will not be allowed to participate.
To what extend do traditional finance markets provide an implicit prediction markets for future macroeconomic states?