Daylight Network launches $5,000 Obama Prediction Market

Daylight Network has launched the $5,000 Obama Prediction Market.

Daylight Network, the first independent social network that allows every citizen to audit the federal government and collaborate on non-governmental solutions. Through the website, you can:

• Follow the money through interactive graphs of the entire federal budget.

• Predict what government will do through the Daylight $5,000 Obama Prediction Market, where members can apply their knowledge to predict key developments during President Obama’s first 100 days in office.

For example, “Will Eric Holder be confirmed as Attorney General?” or “What will the national unemployment rate be at the end of Obama’s first 100 days?” or “What will be the ultimate size of the American Recovery and Reinvestment Act” or “Will Barack Obama support the Pittsburg Steelers or Arizona Cardinals in the Super Bowl?”

The possible answers are represented as stocks. Participants can buy and sell shares in these stocks to express what they think is going to happen. Daylight Network provides each user with $5,000 of trading currency (not real money) for making predictions. Participants buy shares if they think the probability is higher and sell shares if they think it is lower.

The top 50 traders will split a $5,000 cash reward pool funded by the Daylight Network.

Originally posted on February 2, 2009 @ 12:04 pm