Thanks to Jason Ruspini for alerting me.
I’ll analyze all this tomorrow. I was off this afternoon.
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InTrade – (PDF file)
Robin Hanson – (PDF file)
Tom W. Bell et al. – (PDF file)
Tom W. Bell – (PDF file)
Chris F. Masse – (PDF file) — 
Robin Hanson – (PDF file)
Iowa Electronic Markets – (PDF file)
Phil Goetz – (PDF file)
Chris F. Masse – (PDF file) —
Crystal World Markets – (PDF file)
EurAsia Group – (PDF file)
Mark L. Bender – (PDF file)
CME Group – (PDF file)
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So much hard work, and so little feedback. Time for me to speak again.
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I haven’t read everything, and you can’t expect me to understand everything, but all in all I would say the CFTC have received a lot of different viewpoints and valuable insights. Which is good.
I’m especially pleased with Jason’s input and his focus on insider trading, market manipulation, limited stakes and his sort of broad view on these and other topics.
Not so sure about Chris’ “need” for sports markets as we could be heading in the wrong direction, even when I pay close attention to the insatiable need for traders and liquidity. Maybe later…
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Well done.
Let me put it this way Chris. Why shouldn’t there be sufficient interest from the public for non-sports markets ?
Once there is enough awareness amongst the political establishment that we are dealing with highly valuable markets, I see it as their responsibility if not obligation to inform/educate the American people and make them aware they exist. There’s also an important role for the media. It’s the kind of advertising betfair had to do without, if I’m correct. This shouldn’t be a problem either as there will be taxes to look forward to.
In this scenario you probably don’t want the type of shitty markets like tennis that attracts all sorts of scumbags who’s only interests are to make a quick buck any way they can. They’re certainly not interested in expressing an opinion. Well, the last thing you want is for them to multiply and poison a society with their rip-off mentality, something I ‘m sure everyone will underestimate except me. And I’m right about this one, believe it or not.
You should ask yourself why betfair isn’t offering socially valuable markets as we speak. The answer is simple, nobody’s interested.
I just don’t think this is the kind of product you want to sell in America. And even if you do, the markets that really matter will suffer because of their presence.
And I have to say I even surprise myself, as a libertarian, to have come to that conclusion.