Abstract: A system and a method are disclosed for classifying items of social media content and for determining sentiment. In one embodiment, an item of social media content is obtained. The item may have been generated by a user participant of a forecasting contest. Thereafter, a financial classification for the item of social media content is determined based on a social media message packet of the item of social media content. Subsequently, a polarity for the item of social media content is determined based on the social media message packet of the item of social media content. In addition, a reliability score for a user that generated the item of social media content is determined. Based on the determined polarity, determined financial classification, and determined reliability score, financial sentiment for a financial instrument associated with the item of social media content is determined.