Tag Archives: Department of the Treasury
My response to the CFTC on event contracts
Here is my response to the CFTC’s “Concept Release on the Appropriate Regulatory Treatment of Event Contracts.” I appreciate this opportunity to help in working towards regulated prediction markets in the US, and I thank the Commissioners for it.
Given the political implications of the rise in commodity prices, this is not the best environment in [...]
Will HedgeStreet USA, the hypothetical InTrade USA, and the hypothetical TradeFair USA, be regulated in the future by a merged SEC+CFTC regulatory structure?
That sounds like a good prediction market proposal.
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As you all know:
The SEC regulates the securities markets (which support capital formation).
The CFTC regulates the futures markets (which exist to discover prices).
The SEC is rules based, meaning it sets regulations that institutions must follow, while the CFTC is principles based, in that it sets broad [...]
Senator Jon Kyl (R-AZ) urged Attorney General General Gonzales to enforce the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).
Lawrence G. Walters:
[...] First, Sen. Kyl strongly urged Gonzales to agree that there is a need for “strong regulations.” Gonzales did so agree.
Next, Sen. Kyl pushed Gonzales to agree that the regulations would include a requirement that banks and financial institutions receive a list of specific bank accounts that belonged to known online gambling establishments, [...]
NETELLER RECORDS OF THE TRADESPORTS-INTRADE CLIENTS WHO ARE US CITIZENS/RESIDENTS ARE NOW IN THE HANDS OF THE US DOJ AND IRS.
Following yesterday’s story on the $55 million of US money (from NETeller clients) held hostage by the US government… Via our Daniel Horowitz (who should set up a blog at WordPress.com), Russ Fox:
First, Neteller is considered to be a foreign financial institution. If you have a foreign bank account, and have $10,000 or more in [...]
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