New Online Gambling Rules Might Bring Back Intrade
businessweek.com excerpt
Although the CFTC’s lawsuit against Intrade is still pending, the Justice Department’s new attitude appears to offer a way for Intrade to come back as a political betting site. The CFTC’s complaint against Intrade takes issue with its futures contracts on currency prices and some current events, but not its line on politics. In a past ruling, the CFTC said that political betting is out of its scope.
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How Intrade Works (from the website)
What is a prediction market?
Intrade is a prediction market. What is a prediction market? It's a market that allows you to make predictions on the outcome of hundreds of real-world events. Stock exchanges find the price of stocks, and futures markets find the price of commodities. Prediction markets find the probability of something happening - a predefined, uncertain future event.
Will the financial markets be up today? Will a certain candidate win the next election? Who will win the Academy Awards? If you have an opinion on what will happen then you can make a prediction on Intrade. Predict correctly and you can win real money profits.