>> Intrade is considered internet based gambling and thus is forbidden to US Citizens.
Ah. Thanks. I read through the sign up blurb pretty carefully, and don’t think they even mention that there.
They dont! And that is what annoys me no end about Intrade.
They have generic language “follow the laws of your country”. They are happy to take US citizens on, fully knowing that it is against the law for US Citizens to use US funds for internet gambling.
They are no different than those Internet Poker guys who took US citizens as customers and eventually got sued (one of them recently settled)
BTW, since Intrade makes you send in copies of your ID documentation, you can bet your last dollar (pun and irony intended) that the day the DOJ sends them a simple form letter asking for information on US Citizens who have used Intrade, the Intrade guys will send a full binder back to the DOJ using FedEx Priority Overnight with 10 AM guaranteed delivery, to show how much they are “cooperating with the US Govt and the DOJ”. They will also point to the fact that you, as a user, clicked on the agreement when you signed up that affirmed that you were not violating the laws of your country
Stay away!
Also, manipulation is rife, especially in this election. Too easy for overseas interests to influence it to influence the election coverage, as many MSM types (as well as RCP itself, reports on Intrade
It is my bet to you that Intrade will lose a lot of credibility after this election
They post the current odds at:
http://iemweb.biz.uiowa.edu/quotes/Pres12_Quotes.html