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Feds shut down prediction markets (InTrade)

Discussion in 'BBS Hangout: Debate & Discussion' started by Commodore, Nov 26, 2012.

  1. Commodore

    Commodore Contributing Member

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    http://www.foxbusiness.com/on-air/s...t-crushes-innovative-online-prediction-market

    It's for our own good you see, can't let us engage in risky activity (especially without a license!). Otherwise THE ECONOMY COULD COLLAPSE!
     
  2. Northside Storm

    Northside Storm Contributing Member

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    LOL

    intrade backed off from a very legitimate civil complaint. Looks like they don't want to take the Wall Street settle and admit no guilt route.

    http://online.wsj.com/article/SB10001424127887324469304578143310068058252.html?mod=googlenews_wsj

    Yeah, it's kinda the CFTC's job to regulate things like off-exchange swaps and derivatives on currencies and commodities, and if they'd done a more stringent job as they seem to be doing now, maybe 2008 wouldn't have happened. Just a thought.

    No one forced a gun to Intrade's head, just a civil complaint. More business for Betfair, I suppose.

     

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