iPredict is a New Zealand based and first real money prediction market where you can trade contracts or stocks as you would in the stock market. In this case you can trade stock in political, economic and social events.
Stocks pay out $1 each if an event comes true and nothing if it doesn’t. The price the stock trades for is the prediction. Using their example, if they offer a stock that pays $1 if Helen Clark (Labour Party) is the Prime Minister after the next election and nothing otherwise and the stock is trading at $0.60. The market’s prediction is for a 60% chance of that event being true. If you think she is going to lose, buy some stock in John Key (National Party) if you think he is going to be the next Prime Minister. Take a look at the chart to see where Key (red) and Clark (green) currently lie. All in all, if you buy low and sell high you are rewarded for improving the market prediction
There are no fees for signing up, adding money, or trading so you can trade as much as you want without paying a single cent. After sign up, you need to fund your account which you can do via credit card or bank deposit. Cash withdrawals are deposited into New Zealand bank accounts upon request. They do charge fees on withdrawals but only on to users who have net earnings – those whose portfolio (including cash) is worth more than the net cash added by a user. The fee is $2 or 2% (whichever is greater).
How good do you think your predictions are? Watch the video to see how to get started with iPredict.