Well, once in on the site, it is really very bland looking. It isn't difficult to read, but there isn't an effective call to action either.
This could be because i have no idea what I would use it for.<p>If i were you, i'd make it more like a news game. Not sure how you would accomplish this, but that could give it a more realistic spin and attract a diverse group.<p>Most of the stuff I'm seeing on the site falls strongly into the 'who cares' column. Maybe you should take a few current news topics and have those as headlines and get users involved with something everybody is familiar with.<p>As it currently stands, i'd spend a lot more time on design and marketing (figuring out how you are going to get people to use it/spread it).<p>I don't find it usable/workable as it is, and I feel your opportunity for success with the current version is very limited.<p>I wouldn't go into any sort of public beta with this. I actually feel it is too early for you to be doing private beta, but I know it can be difficult to get honest feedback from aquiaintences.<p>Don't read what I'm saying as 'this can't be successful'. Your idea has merit, you could make something of this, but you have to have a better product than you currently have, even in closed beta.
It is a good idea, although I wouldn't use real money for something like this.
I agree with radu_floricica that it is difficult to understand how the bidding works on first glance. I'd try to add more information on the pages, not only in the faq and tour.
It's interesting both in concept and execution, but isn't it a bit empty? It's usually a good idea to populate something like this beforehand, even if it's with fake/random accounts.<p>Also the bidding interface might use some contextual help. Everything is probably explained if I read the docs, but if I just want to jump in it's a bit difficult. For example the difference between Market and Local.
Isn't this the same thing as Inkling: <a href="http://home.inklingmarkets.com/" rel="nofollow">http://home.inklingmarkets.com/</a><p>...or am I missing something?