Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: Internet gambling ban

Are U.S. banks capable of stopping transactions tied to event derivative traders made for speculating at InTrade-TradeSports and MatchBook?

Written by Chris F. Masse on April 2, 2008 — 2 Comments

New York Times:

Congress to Take Testimony on Internet Gambling Ban
By Matt Richtel

The Unlawful Internet Gambling Enforcement Act of 2006 made it illegal for banks and other financial institutions to process online wagers. The goal was to find an indirect way to regulate offshore casinos [... and sportsbooks... and real-money prediction exchanges...], which are outside the [...]

Posted in Regulations | Also tagged , , , , , , , , , , , , , , , , , ,

W.T.O. on internet gambling and betting – United States of America vs. Antigua-Barbuda

Written by Chris F. Masse on August 24, 2007 — Leave a Comment

I ran this story yesterday, as you have seen, but Steve Roman has spotted another excerpt that is interesting.
—
New York Times (page two):
[...] Complying with the W.T.O. ruling, Professor Jackson said, would require Congress and the Bush administration either to reverse course and permit Americans to place bets online legally with offshore casinos or, equally [...]

Posted in Regulations | Also tagged , , , , , , , , , ,

Marketplace Radio says: Don’t bet on Internet gambling ban’s reversal.

Written by Michael Giberson on June 9, 2007 — 1 Comment

Marketplace ran a radio news story on the Internet Gambling Regulation and Enforcement Act:
JOHN DIMSDALE: Opponents of the ban on Internet gambling say its none of the government’s business what Americans do with their own money in their own homes. Massachusetts Democrat Barney Frank is the sponsor of the Internet Gambling Regulation and Enforcement [...]

Posted in All Guest Authors's Posts, Politics, Regulations | Also tagged , , , , , , , , ,

Internet gambling ban: traders caught by surprise.

Written by Chris F. Masse on October 1, 2006 — Leave a Comment

Historical data for this prediction market show that outcome probability remained flat around 20%, since inception. Then, it peaked at 87% just after the bill passed the US Senate.
Source: TradeSports

Post Scriptum: I have copied and pasted the HTML code given by TradeSports (so the chart can be updated in the future), but it does [...]

Posted in Analysis (Accuracy & Precision), Exchanges & Markets, Market Expiry, Market Prices & Probabilities | Also tagged , ,

Internet gambling ban has passed.

Written by Chris F. Masse on September 30, 2006 — Leave a Comment

The US Congress has approved the internet gambling ban bill. (Reuters, Wash Post). [Thanks to NY-based trader Steve Roman for the link.]
TEN CEO John Delaney has been feeding the gullible media with the concept that, because TradeSports / InTrade is a prediction exchange (not a bookmaker, or a casino), he keeps sleeping like a log, [...]

Posted in Analysis (Accuracy & Precision), Exchanges & Markets, Market Contract Statements, Market Expiry, Regulations | Also tagged , , , , , , , , , , , , , , , , , ,

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