What a bunch of fluff.

The problem is that prediction markets are excellent vehicles for corruption as demonstrated by the article discussed here.

You're arguing that corruption is a good thing.

I completely agree with you. The only thing I would add is, that prediction markets are not necessarily oracles for predicting the future. They can just as well be used for hedging: imagine, hypothetically I really do not want Trump to win. I can bet on Trump, not because I want or expect him to win, but to hedge my position (perhaps my business would suffer if Trump wins)