Donald Rumsfeld’s resignation as US Secretary of Defense (PDF file):
Donald Rumsfeld announced his resignation in this letter. InTrade can expire a Rumsfeld resignation event derivative on the basis of this letter.
In the Larry Craig case, where the US Senator announced his “intent to resign”, I think that InTrade should have waited before expiring the resignation event derivative. InTrade should have been true to its contract, which needed a resignation statement. To say “I intent to resign” is different than to say “I’m resigning” or “I have resigned”.
“As he stated on Saturday, Senator Craig intends to resign on Sept. 30,†Mr. [Dan Whiting, a spokesman for Mr. Craig] said in a statement. “However, he is fighting these charges, and should he be cleared before then, he may, and I emphasize may, not resign.â€
Previous: InTrade expired the Larry Craig prediction market too early.
