The difficulty of discerning what will happen with Brexit has some asking whether betting shops, rather than financial markets, will provide better clues for the future.
It would be a redemption story for betting markets, after they failed miserably to predict the outcome of the U.K.’s 2016 vote on whether to leave the European Union. That miss wrong-footed both betters and currency traders, many of whom invested in the pound based on signals from the betting markets. The so-called wisdom of crowds turned out to be wrong,...