TheStandard.com, the website for The Industry Standard, has officially launched in beta.

The San Francisco-based business was founded in 1998. Today it aspires not only to document the internet economy but contribute to its future with the addition of an industry speculations feature.

On the Standard's "prediction market," users can gamble on where the internet's tide will turn. Featured predictions include "Google to support OpenID" (67 percent community odds), "Facebook will adopt OpenSocial" (40 percent odds), "Ad spending will shift from impression to performance-based marketing in 2008" (53 percent odds), and "Yahoo to accept Microsoft acquisition" (49 percent).

Bets are hedged by varying closing dates. The Yahoo/Microsoft acquisition bet closes in less than three days.

"Prediction markets have proven to be remarkably powerful tools for gauging events and trends, and we think that the addition of this technology to the site will provide a very special type of meaningful interaction," wrote the Standard's David Butcher.

New members are invited to speculate with S$100,000 (Standard, not Sim, Dollars) provided upon registry. Membership is free and "industry experts" can win prizes.

The Standard is online-only and supported by sponsorship. Contributions shall include syndication and articles by analysts, entrepreneurs and technologists, guided by what Butcher calls an "all-star advisory board." Intel sponsored the launch.