iPredict is a New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

 prediction market

Prediction market

Prediction markets are speculative markets created for the purpose of making predictions...

 that offers prediction exchanges on current events, political issues and economic issues. iPredict is jointly owned by the New Zealand Institute for the Study of Competition and Regulation and the Victoria University of Wellington

Victoria University of Wellington

Victoria University of Wellington was established in 1897 by Act of Parliament, and was a former constituent college of the University of New Zealand. It is particularly well known for its programmes in law, the humanities, and some scientific disciplines, but offers a broad range of other courses...

. The site launched on 9 September 2008.

Under the New Zealand Gambling Act 1993, only the New Zealand Lotteries Commission and the TAB

Totalizator Agency Board

Totalisator Agency Board in Australia and New Zealand, universally shortened to TAB, is the name given to monopoly totalisator organisations. All were originally government owned...

are permitted to accept bets by internet or phone. However, iPredict is authorised by the New Zealand Securities Commission as an authorised futures dealer, so is therefore lawful. This has been met with opposition from the Problem Gambling Foundation.