Reuters partner with HubDub.

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YOU HEARD IT ON MIDAS ORACLE FIRST.

Once again, we out-scoop Freakonomics and Overcoming Whatever.

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HubDub:

Reuters partners with Hubdub to put a presence on the prediction market site.

Reuters is pleased to announce their new presence on Hubdub, the virtual prediction market site.

Hubdub allows users to trade predictions with virtual money on the outcomes of breaking news stories and future events, with approximately 2 million Hubdub dollars traded daily. As part of a new, dedicated Reuters section within the site Reuters generates questions for users to trade on based on the latest breaking news and ranging in topics from the current credit crunch to the 2008 presidential election. Reuters questions are already among the most popular on Hubdub.

Additional tools and resources are also included to help build a Reuters community within the site, including a “-friends”- application, comment capabilities, links to the top Reuters stories of the day and Reuters market widgets, found at http://www.hubdub.com/partners/reuters.

Finally, because Hubdub prediction markets aggregate thousands of trades, the site often produces accurate forecasts on the likelihood of future events. Beyond weighing in on the outcome, users are able to reference the site for up-to-the-minute information on the public’-s predictions about breaking news from Reuters.

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HubDub partnership program:

Become a Partner

Partner with Hubdub to engage and grow your community. Enrich your content for your users by adding forecasts, and drive traffic by creating a branded presence on Hubdub.

As a partner you can:
* Create branded questions on Hubdub for anyone to predict, with links back to your relevant content
* Sponsor and link to particular questions and get links back to your relevant content
* Get a branded profile page to highlight your questions and display a relevant news feed from your site or blog
* Post questions, graphs and forecasts as widgets alongside your content to engage users
* It’-s all completely free!

- News sites – engage your readers with forecasts they return to
- Bloggers – get novel content to enrich your posts and drive relevant traffic
- Special interest sites – give your community informative forecasts and attract new users

Become a partner – it’-s free!

Create an account on Hubdub and drop us an email asking to become a partner. Once we review your application we’-ll upgrade your account to a partner one. Easy!

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UPDATE: HubDub PR

Internet gambling ban has passed.

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The US Congress has approved the internet gambling ban bill. (Reuters, Wash Post). [Thanks to NY-based trader Steve Roman for the link.]

TEN CEO John Delaney has been feeding the gullible media with the concept that, because TradeSports / InTrade is a prediction exchange (not a bookmaker, or a casino), he keeps sleeping like a log, at nights, regarding the recent prosecutions against internet gambling firms’- executives.

Addendum: Steve Roman notes that the USLAW.IGAMING.JAN07 contract has skyrocketed…- maybe wrongly…-

QUOTE

Dublin, July 14, 2006: New US Law passed and signed by the US President

The contract(s) will be expired at 100 if (including but not limited to):
The 109th US Congress passes a bill and the US President signs a new law that amends the federal criminal code to prohibit persons engaged in the business of betting or wagering from knowingly accepting credit, electronic fund transfers, checks, drafts, or similar instruments, or the proceeds of any other financial transaction in connection with unlawful internet gambling. The law must be signed on or before 11:59:59pm ET on the date specified in the contract.

The contract(s) will be expired at 0 if (including but not limited to):
There is no such bill passed by Congress or the bill is not signed into law by the US President on/before 11:59:59pm ET on the date specified in the contract.

Due to the nature of this contract please also see Contract Rule 1.9 (Unforeseen Circumstances).
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has been expired will not be taken into account. Exchange Rule 1.4
You are obligated to contact the exchange by email to help@tradesports.com if you have any questions regarding this contract before you enter an order.

UNQUOTE

Addendum: This is from a trader (scoresman923) on the TradeSports forum:

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Tradesports,

Please discuss the passing of this new bill and let your bettors know all implications of the bill. We have invested a lot of time and money in your site and have been loyal customers. I fear for my funds invested and if you do not discuss this issue I will be forced to withdraw all funds within the next couple of months.

Thank you.

UNQUOTE

Addendum: Clarification October 5th 2006:
The above contract will expire at 100 if/when the President signs the current “-Safe Port Act”-, which includes the section Unlawful Internet Gambling, which was passed by Congress on September 29th, 2006. If he does not sign this bill or similar by December 31st, 2006, the contract will expire at Zero.