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Friday, March 9, 2007

Betting on tomorrow's news

I didn't know such a thing existed.

There is this unusual online practice of gambling fake money on future news events. According to USC Annenberg graduate student Daryl Paranada, in this article in the Online Journalism Review, website users can compete with one another by making predictions about future events.

"Predicting future events has always been uncertain, but prediction market websites like NewsFutures.com have made betting on the news a viable -- and often fun -- activity for Web users."

Not quite surprising, given the uncertainty of news events.

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