InTrade-TradeSports is still plagued by the North Korea Missile scandal.

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Any good journalist writing up a piece on InTrade or interviewing John Delaney does mention the North Korea Missile scandal.


Bet on It! – (page two – page three + a crappy listing of exchanges) – by Spectrum&#8217-s Steven Cherry

[…] Last year, a poorly worded contract by Tradesports caused a ruckus when some bettors lost money. Trade­sports had set up a market to predict whether North Korea would test a long-range ­missile—which was defined as sending a missile beyond the country’s airspace. Those who bought that contract, which expired on 31 July 2006, thought they had won when a North Korean missile flew 442 kilometers (275 miles) into the Sea of Japan (East Sea). However, the contract also specified that the source of the confirming information had to be the U.S. Department of Defense, which declined to release any specifics about the test. Despite a White House statement that confirmed the missile “went out about 275 miles,” Tradesports awarded the contract to those who bet against a successful test. […]

More Information:

Event derivative trader &#8220-Vancheeswaran&#8221-:

[…] Bryan Whitman ([email protected]) explicitly stated in print, in press conferences, and by email that North Korea fired multiple missiles into the Sea of Japan. For instance, “North Korea fired a long-range Taepodong-2 missile and six short- and medium-range Scud and Nodong missiles. All landed in the Sea of Japan without incident.”

National Security Advisor Stephen Hadley, in a press conference at the White House, stated that the missiles “went out about 275 miles” into the Sea of Japan.

There are many other examples of the U.S. military and government (not just the press) confirming that the missiles were launched and approximately where they landed. […]

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