Patent ID: 8341065

Claim:
A computer-implemented method for trading in a prediction market, comprising: providing a user interface which identifies parameters of a prediction market, the parameters include a question regarding a future event and a set of outcomes for the future event, each outcome is represented by a respective security in the prediction market, each security represents a different one of the outcomes, and the parameters are defined by a sponsor of the prediction market; receiving a user input, via the user interface, for exploring different bets regarding at least one of the outcomes and a payoff of each of the different bets, the user input is made using a tool of the user interface to express an amount for each of the different bets and to express whether each of the different bets is for or against the at least one of the outcomes, the user interface allows the user to explore different bets separately for each of the outcomes; for each of the different bets, determining, by a computer, a payoff based on a price of at least one of the securities in the prediction market; providing, by the computer, an output, via the user interface, in response to the user input, indicating the payoff of each of the different bets; receiving, by the computer, a user input, via the user interface, for placing at least one of the different bets for or against at least one of the outcomes; and translating, by the computer, the at least one of the different bets into an order in the prediction market, the translating includes identifying at least one of the securities which represents the at least one of the outcomes, and identifying, by the computer, an amount of shares of the at least one of the securities, the amount is based on an amount of the at least one of the different bets.