Prediction markets are markets that are explicitly designed to reveal and aggregate information. They can be used to produce consensus forecasts based on the judgments of multiple experts.

To preserve the spirit of the competition as a forecasting competition, we will, in future, be closing each monthly market for trading on the last day of the month, rather than on the 15th of the following month.

Between 8am and 10am BST on Thursday 7 June, when the Climate Prediction Market is closed, an extra 500 credits will be deposited into the account of each team.

Contracts for the month of April have been paid out.

The initialisation auction for the monthly markets is now complete and continuous trading begins today.

The initial auction process for the first monthly market of Winton’s UK climate prediction competition has now begun, allowing participants to bid for contracts and set market prices.