I agree that the Prediction Market Industry Association (PMIA) (in its present form) is highly suspicious.
The purpose of the PMIA was to provide resume and marketing fodder for Jed, Emile and John. It’-s like being president of a high school club: You don’-t have to accomplish anything, but you can list your “-officer”- status on college applications.
As we saw, Emile has already started using it in his NewsFutures marketing. So, the project has actually been a great success for its true purposes!
Its our responsibility to call bullshit on this, and we failed. The PMIA is a fake organization, and nobody deserves any extra street-cred for “-leading”- or “-founding”- it.
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[…] UPDATE: Deep Throat agrees with me. […]
The fact that the Prediction Market Industry Association didn’t submit a comment to the CFTC on “event markets” (prediction markets)…
http://www.midasoracle.org/200…..tion-cftc/
[…] The Prediction Market Industry Association (whose website still features their initial P.R. output) … […]
[…] Chris F. Masse September 29th, 2008 Let’s revisit our achives: […]