What the hell is a predicted probability??

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In response to my previous rant, I&#8217-m told that:

#1. My criticism (expressed for the third time) about the bad usability of their big, rounded button has finally be digested.

#2. The &#8220-home page&#8221- they are referring to in their blog post is not the frontpage, but the home page for the Inkling play-money prediction markets. Ah. So I went there again, and I saw this:

Will Google&#8217-s stock price hit $600 before Dec. 31, 2007?

current prediction
The predicted probability is 57.5%

Bad. Better: The current probability for the $600 outcome is 57.5% &#8212-so, yes, Inkling is predicting that Google&#8217-s stock price will hit the $600 mark before Dec. 31, 2007.

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