Markets in everything

Max L. writes to me:

www.ultrinsic.com has gone live and has expanded its betting options for college grades in some interesting ways.  Students can bet not only on their grades in particular classes but also on their career GPA's.  They can also buy insurance for bad grades and make a bunch of different "multicourse" bets.  I thought the expansion adds an interesting finance technique and speeds up the rate at which students feel the burdens/benefits of their academic performance. Also, Ultrinsic either must already have or must develop an effective model for predicting student performance, which should create a lot of very useful data for a huge variety of purposes.

Max also sends along this piece on Hamas and Bernie Madoff.

Comments

The site still seems sparse on content... is there a way without signing up for anything to find out how the contracts are enforced? (i.e. it says you can get money if you achieve certain grades but how will they know what you really achieved?)

Asking your college to forward transcripts to a gambling site...that's just like asking your mom to pay for your porn.

Crap! It's only available to undergraduates at NYU and University of Pennsylvania. :(

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