Michael and Dan have discussed the eery accuracy of political futures markets.

Now Hubdub.com, the “fantasy league for news” website, has introduced a punditry futures market. The idea is that web users can bet–with fake money, I believe–on how accurate America’s leading pundits will be in their news predictions.

This is all a bit post-modern: making predictions about predictions. But Pundit Watch might be a good way of proving that punters, en masse, can be more astute than the supposed experts. As James Surowiecki–a source for Michael’s original article–has shown, the wisdom of crowds is often more reliable than the wisdom of the wise.