Prediction markets, such as Polymarket and Kalshi, have surged in popularity, allowing users to wager on outcomes related to scientific events, including disease outbreaks and climate change. Unlike traditional expert forecasts, these markets determine prices based on collective beliefs, reflecting the wisdom of crowds. Research suggests that prediction markets can sometimes outperform expert predictions, particularly in political contexts. However, experts caution that these markets should not replace traditional scientific methods, as they can be influenced by public sentiment and may lack the depth of knowledge required for accurate forecasting. Concerns about market manipulation have also arisen, notably in cases like the Nobel Peace Prize betting surge. For instance, Polymarket predicted a 19% chance of a hantavirus pandemic, which dropped significantly as more information became available, contrasting with expert assessments that indicate a low risk of such an outbreak. In climate forecasting, predictions from these markets align closely with expert estimates, suggesting their potential utility in this area. Overall, while prediction markets offer valuable insights, they should be viewed as one of many tools in scientific forecasting, rather than definitive sources.