Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: managing editor

What InTrade CEO John Delaney told the CFTC about “event markets” (prediction markets)

John Delaney (CEO of InTrade) – (InTrade PDF file – CFTC PDF file):
July 4th 2008
The Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street NW
Washington, DC 20581
U.S.A.
Attention: Office of the Secretariat
RE: “Concept Release on the Appropriate Regulatory Treatment of Event Contracts”
To Whom it May Concern:
It is an honour for me as Chief Executive Officer of Intrade [...]

The managing editor of CNBC.com asks readers whether they should report what the (play-money and real-money) prediction markets say. He is not that hot on the idea —to say the least. Which is why we should develop a blog network on prediction markets —to get rid of the journalists’ filter and report the prediction markets directly to people. Wanna in?

But the “gambling” nature puts some journalists off.
Is it just providing information … or promoting betting action?
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See, that’s exactly why I want to develop my “Midas Oracle Project”.
Classic journalists and classic bloggers will never treat prediction markets with the maximum sophistication they deserve.
Only brand-new blog networks that will specialize in prediction markets will do a [...]

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