Monday, June 30, 2008

Welcome to iPredict

Welcome to iPredict, New Zealand's first real money prediction market.

We'll be using this page to post weekly commentary on political markets, announce the launch of new markets, the results of closing markets, and provide some pointers to recent developments in the academic literature on predictions markets, which, by the way, is taking off.

iPredict is close to go live. Right now nearly the entire site is accessible, with only add users and add/withdraw funds functions currently unavailable. These will be switched on when we are receive clearance to operate from the Securities Commission, and then we're underway.

In the meantime, please take a tour around the site, view a video tutorial, and perhaps have a look at some of the recommended literature on prediction markets.

We think prediction markets represent a paradigm shift - not only a new way to predict election outcomes, but a new way for businesses to forecast sales, gain market intelligence, even design new products, and a new way for all public and private organisations to test social and economic policy - and all without leaving the comfort of home.

It's hard to overstate this idea's potential.

Welcome on board.