I am endorsing Hubdub.com
The website is still in it's infancy but it is a great idea. You use play money to bet on a myriad of news outcomes. Odds are made based on monetary values of voters on each possible outcome. You can also invent your own questions. Some news stories provide wagers for the long term and others short term. There is a leaderboard for top players. So far I am 5/5 on my bets. But after superbowl Sunday I won't be anymore I'm sure. Check it out.