PredictIt: Difference between revisions
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{{Infobox website |
{{Infobox website |
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| name = PredictIt |
| name = PredictIt |
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| logo = [[File:PredictIt logo.png|250px]] |
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| logo_caption = PredictIt logo |
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| url = {{URL|www.predictit.com}} |
| url = {{URL|www.predictit.com}} |
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| slogan = Let's Play Politics |
| slogan = Let's Play Politics |
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| alexa = <!-- {{increase}} {{steady}} {{decrease}} [http://www.alexa.com/siteinfo/example.com ##] (US/Global MM/YYYY) --> |
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| current_status = Online |
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Revision as of 07:36, 25 January 2015
 PredictIt logo | |
Type of site | Prediction market |
|---|---|
| Owner | Victoria University of Wellington |
| URL | www |
| Commercial | no |
| Current status | Online |
PredictIt is a prediction market that offers prediction exchanges on political and financial events. PredictIt is owned and operated by Victoria University of Wellington[1] with support from Aristotle, Inc.[2]
How it works
PredictIt uses a continuous double auction to sell shares for each event in its markets, meaning that for every person who predicts that an event will take place, there must be another person who predicts that it will not. The site groups related predictions into a market.[3]
Rules and limits
Victoria University of Wellington secured a no action letter from the Commodity Futures Trading Commission,[4] eliminating the risk of prosecution for illegal online gambling.[5] In order to secure the no action letter, each question is limited to 5,000 traders, and there is an $850 cap on individual investments per question.[1] These restrictions are modeled after the Iowa Electronic Markets, which secured a no action letter from the Commodity Futures Trading Commission;[5] however, there are differences in the restrictions between the two markets.[4] Although PredictIt has federal approval, the site does not allow residents of Alabama, Colorado, Hawaii, Illinois, Louisiana, Missouri, Montana, New York, New Jersey, Nevada, Oregon, South Carolina, Tennessee, Vermont, and Washington to participate in the markets due to strict gaming and gambling laws in those states.[6]
See also
External links
References
- ^ a b "Terms And Conditions". PredictIt. Retrieved 2015-01-25.
- ^ "What Is PredictIt?". PredictIt. Retrieved 2015-01-25.
- ^ "How It Works". PredictIt. Retrieved 2015-01-25.
- ^ a b "CFTC Staff Provides No-Action Relief for Victoria University of Wellington, New Zealand, to Operate a Not-For-Profit Market for Event Contracts and to Offer Event Contracts to U.S. Persons". U.S. Commodity Futures Trading Commission. 2014-10-29. Retrieved 2015-01-25.
- ^ a b Katy Bachman (2014-10-31). "Meet the 'stock market' for politics". Politico. Retrieved 2015-01-25.
- ^ Nancy Scola (2014-11-04). "This newly-legal prediction market thinks it can tell you who'll win today". Washington Post. Retrieved 2015-01-25.