Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: United States

The United States and the European governments will default on their debt, eventually — dixit Marc Faber. [PREDICTIONS]

Singapore is the safest.
2:15 into

Download this post to watch the video —if your feed reader does not show it to you.
Via Joe Weisenthal

HR 2267 = a bill that would legalize Internet gambling in the United States

Will happen in 2010.
Bye bye UIGEA.

Enterprise Prediction Markets = The wisdom of crowds comes to the enterprise.

Here are short excerpts of the Forrester report on enterprise prediction markets and companies that provide software for enterprise prediction markets.
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The Forrester executive summary:
The “wisdom of crowds” is capturing the attention of corporate strategists across the globe, and, as a result, many are now looking to prediction markets — speculative markets in which traders collectively [...]

Barney Frank’s Payment System Protection Act (HR6870)

… is a shitty bill… since it excludes sports betting.
RELATED: A news article (in French) implies, between the lines, that BetFair (who always respected the US laws) should be later granted a license to operate in the US, the day it becomes legal, while InTrade-TradeSports (who didn’t) should not be granted a license. Hummm…
EXTERNAL LINK: [...]

Hubdub Election Map Released (Including Dynamic Widget)

We’ve just released our 2008 Presidential Election Map. The map is based on markets for all 50 states. In addition to the page there is a map widget (displayed above). The widget goes into feed readers and also dynamically updates on a page refresh. Click on the widget above to access the code snippet.
It has [...]

Nobel laureate Gary Becker and judge Richard Posner both wish that, one day, real-money prediction markets will be legal, without restrictions, in the United States of America.

Via David Pennock of Odd Head fame
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Gary Becker:
[...] I believe that online political prediction markets, and other online prediction markets as well, should be legal in the United States and elsewhere, even if the amounts bet were quite large. There is no important substantive difference between such online betting markets and the Chicago Mercantile Exchange [...]

InTrade’s US Recession 2008

= USA two Consecutive Quarters of Negative Final (but Unrevised) GDP
Felix Salmon’s rebuttal.
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Regulated U.S. election markets might not be so hard.

Based on the arguments Hedgestreet presented in its response to the CFTC on event markets, the exchange has a fairly strong justification to self-certify and begin trading election futures, soon. While most event markets trade as binary options, and the CFTC has flexible discretion over options per 7 U.S.C. § 6c(b), the Commission does not [...]

BBC’s Panorama, the most famous investigative TV news show of British television (the equivalent of CBS’s 60 Minutes in the US), will air a segment on sport corruption and insider trading in the world of betting, on Wednesday, July 30, 2008.

Panorama:
BBC One
Panorama
Wed 30 Jul, 9:00 pm – 10:00 pm 60mins
Nearly six years after its award-winning expose of corruption in horse racing, Panorama returns to the sport of kings to investigate the world of betting. Paul Kenyon reveals why those running the sport are so concerned about gamblers betting large sums of money on horses [...]

Why Robin Hanson is right to freak out about the upcoming CFTC ruling on “event markets” (prediction markets)

Robin Hanson is trembling in his pants:
Coming soon after speculators were blamed for rising commodity prices, I fear this is bad news for hopes for legal prediction markets anytime soon.
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The CFTC decisions are politically sensible in 4 areas:

The CFTC will never allow real-money prediction markets on sports. That’s too close to gambling, for some critics. [...]

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