Intrade, the exchange that takes bets on things like who will win the US presidential election and what films will win an Academy Award, has always been a fun scene. In recent years, it became much more, as the media realized that the odds on Intrade could often predict the future.
But on December 23, all bets are off for Americans. Intrade is cutting off its US customers after the Commodity Futures Trading Commission (CFTC) sued the Ireland-based company for violating US law. Intrade was taking bets on so-called "commodity options" — things like the price of gold and the cost of oil — without listing the contracts on a CFTC-regulated exchange. Another predictions market, TEN, was also charged.
In the past, the CFTC has said that...
via The Verge - All Posts http://www.theverge.com/2012/12/11/3753082/intrade-shutdown-cftc-us-december-2012
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