So far, there are two crappy entries:

Prediction entry by WilyB:

I predict this site will crash before Summer. 20K

This is too vague. You'd need to define crash (eg., unplanned server outage that lasts at least six hours, not a network outage). And even if it wasn't vague, it still fails the interesting event test.

Prediction entry by USA_uber_alles:

I predict this is the first prediction game ever submitted to mods approval

May 18, 2007, 6:00pm FF time

Well, Wily's entry beat yours, but neither were approved, so your prediction has already failed before it got out of the gate.

Lame, lame! Neither of these were approved.

Let's try for some quality for the inaugural launch! First person to come up with a good prediction that is approved will be absolutely famous!

Try picking a good sports game that will happen soon and will interest people. Or something political that is bound to happen. Remember that if no one takes the opposing side(s), the winners won't get any karma. So the event has to be somewhat controversial to work.

Also, you need to define the pro/con conditions rigorously if it's not immediately clear.