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August 29th, 2005 - Open Knowledge

Aug. 29th, 2005

10:40 am - Foresight Exchange code open sourced

http://www.ideosphere.com/

PRESS RELEASE:
Popular Prediction Market Software Becomes Open Source
Code Release Promotes Wider Developer Participation and Commercial Adoption

Calgary, Alberta (August 29, 2005) – Responding to the strong interest in prediction market software, Foresight Technologies today announced that it is contributing the complete Idea Futures source code to the Open Source community. Releasing the code will encourage further innovation around prediction markets and empower more firms to use this emerging technology. The software is available under Reciprocal Public License (RPL) V1.1.

Idea Futures helped birth the prediction market industry when it was first developed over a decade ago. The platform continues to power the web's first and longest-running prediction market, the Foresight Exchange. Located at ideosphere.com, the Foresight Exchange gained notoriety by accurately predicting events such as US Presidential elections, major scientific advances and the future price of gasoline.

Ken Kittlitz, administrator of ideosphere.com, comments, "I'm thrilled that other developers now have the freedom to use Idea Futures. I strongly believe that the extended availability of the source code will foster the creativity needed to open a new vista of opportunities for prediction markets."

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