ABC 20/20 featuring InTrade on May 9, 2008 — 10:00 pm ET

Chris F. Masse May 9th, 2008

ABC 20/20 featuring InTrade on May 9, 2008 — 10:00 pm ET

Foretelling the Future: Online Prediction Markets — (4 pages in all)

Now Intrade is more than just a place where people win or lose money making bets. It turns out that the share prices on Intrade can be accurate predictors of the future. Intrade attracts a large and diverse crowd of bettors, and because each participant puts their money on the line, they may be more likely to make careful decisions. As a result of the collective intelligence of more than 77,000 bettors on Intrade [*], the prices on the site may be a good way to predict the outcome of current events — more accurate than some polls and pundits.

[*] and thanks to InTrade’s market mechanism…