Tag Archives: Internet Gambling Enforcement Act

The Case for Decrimininalization of Prediction Markets

Posted on June 26, 2008 by Jay Graziani

[This article is cross-posted from Major Wager.] – A recent article in the prestigious academic journal Science (May 16, 2008, Vol 320, p. 877-8) once again makes the case for regulated prediction markets, more commonly known as “betting exchanges” to … Continue reading →

Posted in All Best Posts Ever, All Guest Authors's Posts, Analysis (Industry), Exchanges & Markets, Regulations | Tagged Bear Sterns, BetFair, CFTC, Commodity Futures Trading Commission, decision-making tool, Dublin, economist, Enron, event derivative markets, event derivatives, event markets, federal law, Internet casinos, Internet Gambling Enforcement Act, internet gambling laws, InTrade, Iowa, Iraq, Jay Graziani, Justin Wolfers, laws, Major, MATCHBOOK, Middle East, National Basketball Association, NBA, oil, oil crisis, online gamblers, online prediction markets, Pennsylvania, Pentagon, prediction exchanges, prediction markets, profit-making tools, real-money prediction exchanges, real-money prediction markets, Regulations, S&P 500, sports betting, Stanford, the Science, The University of Iowa, the University of Pennsylvania, TradeSports, United States, United States Congress, Unlawful Internet Gambling Enforcement Act of 2006, Wager, Wharton School, Yale | 1 Comment

Playing fantasy sports is not gambling. The Unlawful Internet Gambling Enforcement Act includes a specific exemption for fantasy sports, provided the prizes are determined in advance and the imaginary teams don’t correspond to any real teams.

Posted on June 23, 2008 by Chris F. Masse

New York Post I expect TradeSports and BetFair to join this industry, one day. -

Posted in Entertainment, Regulations, Sports | Tagged Betting, fantasy betting, fantasy gambling, fantasy sports, Fantasy Sports Trade Association, FSTA, Gambling, Internet Gambling Enforcement Act, laws, New York Post, Regulations, Unlawful Internet Gambling Enforcement Act, Unlawful Internet Gambling Enforcement Act of 2006 | Leave a comment

Ron Paul (R) and Barney Frank (D) ally together to attack “the practical hurdles of the federal law, known as the Unlawful Internet Gambling Enforcement Act, rather than its legitimacy”.

Posted on April 17, 2008 by Chris F. Masse

Via Nolan Chart, The Hill. The bankers‘ association cheers, but I see many lobbies (including the NFL) that prefer the status quo. -

Posted in Politics, Regulations | Tagged Barney Frank, Betting, federal law, Gambling, Internet Gambling Enforcement Act, National Football League, Nolan Chart, Unlawful Internet Gambling Enforcement Act of 2006, US anti-gambling laws | 6 Comments

Self-Serving Prediction Market Of The Day — Unlawful Internet Gambling Enforcement Act of 2006

Posted on April 14, 2008 by Chris F. Masse

InTrade: New Market: Amendment to UIGEA Monday, Apr 14, 2008 We have listed a contract on an amendment to the Unlawful Internet Gambling Enforcement Act being passed before the end of 2010, and that Rep. Barney Frank will be a … Continue reading →

Posted in Exchange Genesis, Exchanges & Markets, Market Contract Statements | Tagged Barney Frank, Congress, event derivative markets, event derivatives, Internet Gambling Enforcement Act, Internet Gaming, InTrade, John Delaney, Library of Congress, media sources, prediction markets, President, President for signing, Senate, United States, Unlawful Internet Gambling Enforcement Act of 2006, USD | Leave a comment

The United States Of America Needs To Rethink The Unlawful Internet Gambling Enforcement Act of 2006.

Posted on April 11, 2008 by Chris F. Masse

- Via Daniel Horowitz (business and technology consultant), The Wall Street Journal Europe (pirated copy here): [...] We have our differences with House Financial Services Chairman Barney Frank, but he may have been on to something when he introduced a … Continue reading →

Posted in Regulations | Tagged America, Barney Frank, business and technology consultant, chairman, Daniel Horowitz, House Financial Services, House Financial Services Chairman, Internet Gambling Enforcement Act, The Wall Street Journal Europe, United States Of America, Unlawful Internet Gambling Enforcement Act of 2006, Wall Street Journal, Wall Street Journal Europe, Washington | Leave a comment

Details on how the Federal Reserve will TRY to crash real-money prediction exchanges InTrade-TradeSports and MatchBook

Posted on April 2, 2008 by Chris F. Masse

Via Betting Market, the Federal Reserve: Louise L. Roseman, Director, Division of Reserve Bank Operations and Payment Systems Internet gambling Before the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, Committee on Financial Services, U.S. House of Representatives … Continue reading →

Posted in Regulations | Tagged attorney general, bank, Bank commenters, card systems, certain designated payment systems, certain payment systems, chairman, check collection systems, Committee on Financial Services, Congress, correspondent, correspondent bank, cross-border Internet, designated payment systems, Director, Division, Federal Reserve Board, Federal Reserve System, financial services, foreign bank, foreign Internet, Gutierrez, Internet gambling, Internet Gambling Enforcement Act, Louise L. Roseman, Paul, payment systems, Ranking Member, Reserve Bank Operations, Secretary of Treasury, Secretary of the Treasury, stored-value systems, Subcommittee on Domestic and International Monetary Policy, U.S. House of Representatives, United States, unlawful Internet, unlawful internet gambling, Unlawful Internet Gambling Enforcement Act of 2006, US Federal Reserve, US Treasury, wire transfer systems, World Trade Organization | Leave a comment

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

Posted on April 2, 2008 by Chris F. Masse

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 … Continue reading →

Posted in Regulations | Tagged author, Barney Frank, Betting, chairman, Congress, Department of the Treasury, Federal Reserve System, Gambling, House Committee on Financial Services, Internet betting and gambling, Internet gambling, Internet gambling ban, Internet Gambling Enforcement Act, law enforcement, Massachusetts, Matt Richtel, New York Times, Regulations, United States, Unlawful Internet Gambling Enforcement Act of 2006 | 2 Comments

BetFair-backed lobby files a formal complaint against the United States of America for discrimination based on violations of World Trade Organisation rules.

Posted on December 21, 2007 by Chris F. Masse

Via Reason, the Remote Gambling Association (PDF file): EU online gaming industry challenges US with charge of prosecutorial discrimination Complaint under the EU Trade Barriers Regulation seeks to stop discriminatory practices against European operators Brussels, 20 December, 2007 The Remote … Continue reading →

Posted in Business, Regulations | Tagged Alston & Bird, Antigua and Barbuda, appropriate solution, Australia, Brussels, Bush administration, Canada, chief executive, Clive Hawkswood, D.C., European Union, foreign online gaming operators, foreign online operators, Internet Gambling Enforcement Act, Japan, Joseph Weiler, law commitments, London, Michael Thaidigsmann, Nao Matsukata, New York University, online gambling, online gaming, online gaming operator, online gaming operators, Professor, professor of law, Remote Gambling Association, trade law, trade analyst, trade official, United Kingdom, United States, United States Congress, United States Of America, Unlawful Internet Gambling Enforcement Act of 2006, US Department of Justice, USD, Washington, World Trade Organisation, www.rga.eu.com | Leave a comment

InTrade CEO John Delaney is so happy that Yahoo! News has endorsed his illegal prediction exchange [*] that, if you asked him right now, he could lay an egg.

Posted on December 19, 2007 by Chris F. Masse

See him here trumpeting his rational exuberance. External Link: Yahoo! News US Political Dashboard – (See also the Midas Oracle Dashboard.) [*] as opposed to the legal Iowa Electronic Markets, the play-money NewsFutures (which our good doctor Pennock assessed the … Continue reading →

Posted in Analysis (Industry), Humor, Regulations, Resources - References | Tagged CEO, David "Outraged" Pennock, France, Internet Gambling Enforcement Act, InTrade, InTrade CEO, John Delaney, Mike Giberson, prediction markets, United States, Yahoo!, Yahoo! News US Political Dashboard | 1 Comment

In July 2008, TradeSports-InTrade will start feeling the Unlawful Internet Gambling Enforcement Act of 2006.

Posted on December 6, 2007 by Chris F. Masse

More from the U.S. Federal Reserve and the U.S. Department of Treasury, here.

Posted in Regulations | Tagged Internet Gambling Enforcement Act, U.S. Department, Unlawful Internet Gambling Enforcement Act of 2006, US Federal Reserve | Leave a comment