Google's Prediction Markets

Google's first internal prediction market, Prophit, was popular with employees but was shut down in 2011 after its planned external launch stalled, according to the article. Launched internally in April 2005, it drew about 20% of Google employees over three years and was built by Bo Cowgill and Patri Friedman, among others. Google's lobbying effort in 2008 to 2010 for the CFTC to legalize prediction markets, backed with Yahoo! and Microsoft, failed as political support for financial deregulation waned after the 2008 financial crisis and the 2010 Dodd-Frank Act.