NewsFutures (2000-2010) was a leading global provider of enterprise-class prediction market solutions, servicing clients worldwide from offices in the United States and Europe.
In 2010, NewsFutures evolved into Lumenogic, a consulting firm focused on delivering prediction markets and collective intelligence solutions to senior leadership.
Founded in the year 2000 by Maurice Balick and Emile Servan-Schreiber, NewsFutures was built on a vision (inspired by the ideas of Robin Hanson) of bringing collective intelligence to bear on predicting the future, anticipating by several years some of the revolutionary trends now tagged with the popular buzz words Web 2.0 and Wisdom of Crowds.
NewsFutures’ eponymous public prediction exchange is home to thousands of the best prediction traders in the world, and an inspiration to none other than James “wisdom of crowd” Surowiecki himself, who wrote in the New Yorker in 2003:
“In a sense, the NewsFutures traders are only trying to do what op-ed writers, TV pundits, and Presidential advisers attempt to do every day: predict the future. The big difference is that the markets are far more likely to be right.” [More]
Over the years, NewsFutures has led the way in providing white-label and enterprise-class prediction market solutions to global media brands (like USA Today and the World Economic forum), World-class companies (like Eli Lilly, Yahoo!, and Renault), and demanding governmental organizations (like the U.S. Armed Forces and the Texas Department of Transportation).
NewsFutures’ pioneering success has inspired many others to follow in its footsteps and help create a new industry that is now thriving worldwide.