Microsoft wants to Patent the Interface to Prediction Market

Microsoft has applied for a patent to control interface to prediction market.

Here is an abstract from their patent application

A user participates in trading securities in a prediction market which represent different outcomes of an event, using an interface which allows the user to understand a trade in terms of a bet. The interface also allows the user to explore different bet amounts while receiving feedback on potential payoffs in real time. In one approach, a tool is used which is moved in one direction by the user to indicate a larger trade for an outcome, or in the opposite direction to indicate a larger trade against the outcome. A bet for an outcome can be translated into a purchase of a corresponding security which represents the outcome. A bet against a particular outcome can be translated into a purchase of securities which represents all other outcomes. The user interfaces hides complexities of the market from the user while surfacing relevant information. – more

The patent was filed in 2007 and published in the month of March, 2009.

Though the patent mainly covers interface for prediction market, the honest truth is that most of the prediction systems work on similar interfaces (interface here implies controls).

How do you think this impacts the prediction market players?

Update: Post has been updated after kartik’s comments.

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