VIDEO: InTrade CEO John Delaney interviewed by CNBC Larry Kudlaw
The sound output is feeble. I can barely hear them. They should put it on YouTube.
At the end of the segment, Larry Kudlaw asks John Delaney to give him a call the day he is in New York. Larry Kudlaw does not seem to know that John Delaney will not come in New York any time soon, because there is a chance that he gets arrested once his plane touches the US soil.
Are the CNBC viewers aware that the InTrade prediction markets are illegal in America?
The Intrade markets are *not* illegal. They are legally ambiguous, and the DOJ’s prosecutorial discretion [sic] is completely capricious and unpredictable.
If we favor the market for prediction markets in general, Delaney–whatever his past mistakes may have been–is merely employing common sense to protect against a vague law which we can all agree is pretty stupid.
The InTrade real-money prediction markets are indeed illegal in America. Only real-money prediction markets regulated by the CFTC are legal in America, so that would be HedgeStreet only at this time.
If something isn’t expressly legal, that doesn’t mean it’s illegal. It means it doesn’t fall under legal or regulatory purview and/or its status has not been clarified by a court ruling.
Intrade falls in the gray area between “legal” and “illegal.”
In America, only CFTC-regulated, real-money prediction markets are legal, as of today.
InTrade is not regulated by the CFTC, is not regulated in Ireland, and is not a member of any dispute arbitration committee (IBAS).