This is a winter where everyone’s talking about the weather – in London, New York, and Istanbul.  Notwithstanding the environmental issues highlighted in the public consciousness, the unusual weather is also effecting many industries.

I have previously written about attempts at creating financial instruments, allowing investors to take positions in previously illiquid markets, such as HedgeStreet.  Now comes WeatherBill, which lets users enter contracts related to the weather.

Paul Kedrosky frequently writes about how weather is:

"one of the biggest unplumbed entrepreneurial opportunities out there"

Knowing a few armchair meteorologists myself, I suspect he’s right.  If positioned right, WeatherBill might end up creating a significant niche.