Tuesday, November 27, 2012

The Feds gun for InTrade

The Commodities Futures Trading Commission is shutting down InTrade. Apart from killing another successful business, the move is quite curious -- during the run-up to the presidential election, the InTrade prediction market routinely -- and correctly, it turns out -- showed Barack Obama ahead of Mitt Romney, which very much supported the Obama campaign's claims that it would win. Why didn't the CFTC sue in October? I think we all know the answer.

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