Today, it was announced that David Pennock, and his team of researchers at Yahoo, has been given the prestigious Futurology Research & Astrology Foundation award for Best Prediction Market Development of the Year for 2010. Their work in developing and launching Predictalot is a ground-breaking achievement in the field of collective intelligence. While Predictalot has only been used to predict sports tournament winners (NCAA basketball and the World Cup) thus far, the combinatorial prediction market and related software will provide an important new platform for more accurate enterprise prediction markets in the future. Other team members included: Mani Abrol, Janet George, Tom Gulik, Mridul Muralidharan, Sudar Muthu, Navneet Nair, Abe Othman, Daniel Reeves and Pras Sarkar.
Commenting after the awards ceremony, Mr. Pennock said that, “it is a great honour and I’m proud of the entire team that brought this important concept to fruition. Frankly, it’s a bit ironic – we just didn’t see this award coming at all!”