Financial instrument based on forecasts of races, opinion poll results, etc. - allows buyers and sellers of opinions to invest fixed sums with predictable winning amounts

摘要

The buyers and sellers make contracts to pay or receive fixed sums in the event that a prediction is correct. Such predictions can be of the winner of an election, horse race, etc. It can also be based on the results of a future opinion poll. The event must have one or more possible correct results from a limited field, e.g. "which two objects from a selection of seven is considered the most important?". The payout will be the sum invested times a ratio. The ratio can be decided on a pari-mutual basis or by an auction process.