Intrade, the Internet's most famous marketplace of predictions, has shut down due to circumstances "which in accordance with Irish law" (it is based in Ireland) require the company to cease operations immediately.
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In November last year, the Commodity Futures Trading Commission filed a lawsuit against the company, claiming it was allowing Americans to bet on the price of commodities (like gold) on an unregulated exchange, which is against U.S. law.
For those with money tied up with Intrade, the company says it has "closed and settled all open contracts at fair market value as of the close of business on March 10, 2013" and that they can still see their account details by logging into the site.
http://www.theatlantic.com/...
This is a sad development and a short diary. It is likely that new US regulations have affected the ability of Intrade to operate as a prediction/wagering site. For the record I support Dodd-Frank - which could be the culprit in limiting commodity positions.
The US is better when individual liberty is protected. That includes the ability to bet on election outcomes.
RIP Intrade.