Rep. Ron Paul (R-TX) would free our prediction markets.
Chris F. Masse December 24th, 2007
December 23, 2007: Rep. Ron Paul (R-TX) - Meet the Press - TRANSCRIPT
AUDIO: MP3
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UPDATE: Robin Hanson comments…
This transcript says nothing about prediction markets. A president Paul might do many things that required only an executive order, but other things would require the cooperation of Congress. A presidential executive order could not overturn CFTC, SEC or state gambling legislation. He could approve government prediction markets, such as the Policy Analysis Market, that might well be seen as immune to these other regulations. But given everything else he’d be trying to do, I’m not sure when he’d get around to this.
- Politics
- Comments(2)
This transcript says nothing about prediction markets. A president Paul might do many things that required only an executive order, but other things would require the cooperation of Congress. A presidential executive order could not overturn CFTC, SEC or state gambling legislation. He could approve government prediction markets, such as the Policy Analysis Market, that might well be seen as immune to these other regulations. But given everything else he’d be trying to do, I’m not sure when he’d get around to this.
My post was filed in the “politics” category, not in “regulations” —which would have been the case if Ron Paul had specifically talked about prediction market legalization. My implied point is that, if most politicians (not just in the US) would have Ron Paul’s libertarian philosophy, then our real-money prediction markets would be free. It’s my educated sentiment.