Time magazine interview the 2 BetFair-Tradefair co-founders, and not a single time do they pronounce the magic words, prediction markets.

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Betting on a Market

Edward Wray:

We&#8217-re one of the very, very few Internet betting companies that have never taken a bet out of the U.S., and that&#8217-s because our view has always been it is illegal, which it clearly is now, and so long as it&#8217-s illegal, we&#8217-re not going to do it. That&#8217-s a long-term strategy. Clearly some people made good money out of taking bets out of the U.S. in the short term, [and] have now found themselves in trouble with the authorities. Gambling should be regulated, we&#8217-re very comfortable with that. There are things that need to be safeguarded — how you look after vulnerable people, how you make sure it&#8217-s a clean, above board business, etc. — you don&#8217-t achieve that by prohibiting business. You achieve it by regulating it. The U.S. has tried prohibition once before and it wasn&#8217-t a roaring success. And I think they&#8217-ll find the same thing here. I don&#8217-t know how long it will take, but I&#8217-m more confident than ever that the U.S. market will open up, and when it does, we will be right at the hub of it. It&#8217-s frustrating to us that people in the U.S. can&#8217-t access Betfair. But we go out of our way to make sure they can&#8217-t because the law is the law and we will always respect that.

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