Twediction Launches Social Prediction Market to Showcase People's Predictive Powers
Establishes New Probability Paradigm for Real World Events.
- New Haven-Meriden, CT (1888PressRelease) January 23, 2014 - Twediction is a new social media website focused on public predictions and the power of social prediction to start conversations about current events online. Officially launching today, Twediction is introducing its prediction market in the public square of Twitter. Participants will use their Twitter accounts to access prediction data from within their own networks on everything from personal and political to entertainment and sports. They will track unfolding events by following the interaction of participants in related predictions while eventually being notified of outcomes as they become known.
Twediction's social prediction market enables people to follow and participate in public predictions. Unlike offshore prediction markets, Twediction is free to participate and there is no money at stake. Rather, market participants wager social currency by making public predictions in order to accumulate points and showcase their predictive powers. Twediction will show that by requiring participants to connect predictions with their public profiles, the probabilities of outcomes indicated by the market will be as valid as if they were wagering money.
Market participants will be able to see where people in their network stand on news that matters to them, as well as track the probability of an outcome coming true. "Twediction is a social and informative way to follow news with people whose opinions you value", said Yung Lin, co-founder and product lead for Twediction. "It is a conversation starter about the things happening in your world."
People can participate on Twediction's website, or directly from within Twitter, simply by replying #yea or #nay to any Twediction they see in their Twitter feed. Their position is captured and displayed publicly for everyone's benefit. "Twitter is full of people making predictions. Twediction is an opportunity for them to prove they know what they are talking about", said Philip Delves Broughton, editor of Twediction. "Everyone can be like Nate Silver on Twediction. It's also a way for the many people sitting on the sidelines of Twitter, just watching, to get involved." Twediction also tracks the public predictions of popular pundits and allows people to play along, promoting accountability in media.
Participants are making predictions about everything from Microsoft's next CEO, to bankruptcy in Detroit, literature awards and criminal indictments. "You see predictions based on your own Twitter network, so the experience is driven by topics and people that are of interest to you," said Delves Broughton. "Some subjects are very local and only of interest to small groups of friends."
Links to Current Active Twedictions
http://www.twediction.com/predict/will-this-be-the-highest-rated-superbowl-of-all-time-362
http://www.twediction.com/predict/the-republicans-will-hang-on-to-the-house-in-2014-301
About Twediction
Twediction is the world's first social prediction market designed to make it fun and informative to follow sentiment on news and local events with people in your network. The company is founded by Yung Lin, Philip Delves Broughton and Michael Paolucci. Watch this short video for a more detailed explanation of how it works.
Twitter: www.twitter.com/twediction
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