Have you ever wanted to put money on the outcome of a political, global, or economic event, but up until today you haven’t been able to? Well there’s a new website that just recently launched, and it’s looking to grow into a full blown futures market. It’s called Predict It (click here), and it’s the stock market for politics.
The way it works is pretty simple:
Say that I believe Jeb Bush will be the nominee for the Republicans in the 2016 Presidential elections. I can buy “yes” shares on the question “Will Jeb Bush win the 2016 Republican presidential nomination?”. If the prediction becomes true, all “yes” shares will be redeemed at $1 each. If it doesn’t, then all “no” shares will be redeemed at $1. Prices per share vary from $0.01-$0.99.
The more likely people feel the event outcome is, the higher the price will be.
So you think maybe you know better than the rest of us?
Check out the various markets on the site, and see if you would like to jump in. It’s a lot of fun, and the service is fast and efficient. Click here for a sign up and a list of what the site has to offer.