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Question about the profitability of prediction markets in general

If the wisdom of the crowd is more accurate than the individual and even is more accurate than the experts, then it would seem to be impossible for any individual to make money trading prediction markets over the long term. This can't be true because the money lost must be equal to the money gained. So someone has to make money. Sure some is lost to fees, especially in traditional betting markets where fees can often be 10% of winnings. But what if we assume very low fees?
My question is what does the distribution of profit look like? Perhaps it is that a few really great forcasters make almost all the money and most people lose, which would be similar to how forex works, or is the money just slushed around between participants semi-randomly?
Edit: Typos
submitted by FredrickFreeman to Augur [link] [comments]

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Weekly FOREX Forecast: 25th - 29th May 2020 [20K THANK YOU ...

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