Why Midas Oracle (and not TV news shows or print newspapers) will dominate the future.

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Henry Blodget:

We still occasionally encounter people who argue that physical newspapers and TV news shows have a vital roll to play in the dissemination of news. These folks usually work for physical newspapers and TV networks, of course. [&#8230-]

Ha! ha! ha! :-D

48% said their primary source of news is the Internet (up 20% from only a year ago).
86% of Americans regard web sites as an important source of news.
36% regard &#8220-blogs&#8221- as an important source of news.
87% of Americans think &#8220-professional journalism&#8221- will remain vitally important.
77% think &#8220-citizen journalism&#8221- will be important
59% think &#8220-blogs&#8221- will be important.

More at Zogby.

BetFair-TradeFair, Betdaq, TradeSports-InTrade, MatchBook, NewsFutures, HSX, et al., should begin to take prediction market blogs seriously.

Previous blog posts by Chris F. Masse:

  • Red Herring’s list of the top 100 North-American high-tech startups includes Inkling Markets —but not NewsFutures, Consensus Point, or Xpree.
  • Professor Koleman Strumpf explains the prediction markets to the countryland people.
  • Professor Koleman Strumpf tells CNN that a prediction market, by essence, can’t predict an upset.
  • Time magazine interview the 2 BetFair-Tradefair co-founders, and not a single time do they pronounce the magic words, “prediction markets”.
  • One Deep Throat told me that this VC firm might have been connected with the Irish prediction exchange, at inception.
  • BetFair Rapid = BetFair’s standalone, local, PC-based, order-entry software for prediction markets
  • Michael Moore tells the Democratic people to go Barack Obama in Pennsylvania (a two-tier state), but the polls and the prediction markets tell us that that won’t do the trick.