Gary Kaplan, the founder of the now-defunct Internet gambling company BetOnSports, pleaded guilty to conspiracy and racketeering charges.
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Category Archives: Regulations
PartyGaming PLC said Tuesday it has reached a non-prosecution agreement with U.S. authorities over its defunct operations there, with the online gambling group agreeing to pay a $105 million… fee.
Wall Street Journal – $$$
The European Union has ruled that betting and gambling is *NOT* an economic activity to which internal market rules on freedom to provide services should apply.
– “-MEPs yesterday (10 March) overwhelmingly rejected the idea of creating an EU single market for online gambling, backing member states’- right to decide on market liberalisation.”-
Barack Obama has chosen Mary Schapiro, chief executive of a non-governmental regulator for securities firms (Financial Industry Regulatory Authority), to chair the Securities and Exchange Commission.
What a great pick.
Out of the gate, Ms. Schapiro faces potential controversy. In 2001 she appointed Mark Madoff, son of disgraced financier Bernard Madoff, to the board of the National Adjudicatory Council, the national committee that reviews initial decisions rendered in Finra disciplinary and membership proceedings. Both sons of Mr. Madoff have denied any involvement in the massive Ponzi scheme their father has been accused of running.
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What a visionary regulator: inviting the fox inside the chicken house, that’-s clever, indeed.
Jason Ruspini, will Barack Obama replace the CFTC head, too?
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Securities and Exchange Commission Chairman Christopher Cox said he strongly supports merging his agency with the Commodity Futures Trading Commission.
Excellent.
Previously: The CFTC on prediction markets. + Comments made to the CFTC.
Barney Franks Payment System Protection Act (HR6870)
…- is a shitty bill…- since it excludes sports betting.
RELATED: A news article (in French) implies, between the lines, that BetFair (who always respected the US laws) should be later granted a license to operate in the US, the day it becomes legal, while InTrade-TradeSports (who didn’-t) should not be granted a license. Hummm…-
EXTERNAL LINK: iMEGA
THANKS: Tip via mister Emile of NewsFutures
Yet another attempt at legalizing Internet betting and gambling in the United States of America
USA Today
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Previous blog posts by Chris F. Masse:
- 24 hours after the launch of the “Prediction Markets” group at LinkedIn, we have already 39 members —both prediction market luminaries and simple people (trading the event derivatives or collecting the market-generated probabilities).
- That was ubber world star Barack Obama in Berlin, during his July 2008 speech at the Victory Column. Spot all the digital cameras pointing to the socialist Messiah. Snatching something to bring at home — “see, I was there”.
- If you want your affiliation with the “Prediction Markets” group to appear on your LinkedIn profile, then click on “Edit Public Profile Settings”, and check the “Groups” option.
- If you want to connect with InTrade CEO John Delaney on LinkedIn…
- Do join the “Prediction Markets” group at LinkedIn, if you have a strong interest in the prediction markets or if you work in the prediction market industry. It’s free, and that’s a way for the LinkedIn visitors browsing stuff about prediction markets to stumble upon your resume / profile.
- You can now join the LinkedIn group on Prediction Markets.
- Nigel Eccles says that HubDub generates “data on peoples’ reputations for accurately analyzing and forecasting future events”.
THE CFTCs SECRET AGENDA -UNVEILED.
CFTC’-s Mission Statement &- Strategic Goals – (PDF file)
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PS: I am searching everywhere on the Web where could be the HedgeStreet’-s 2003 DCM application made to the CFTC. If you can un-earth it, please send me the URL by e-mail, or in a comment below, thanks.
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COMMENTS TO THE CFTC: What should be expected, next.
Two prediction market organizations will submit, each, a comment. I suppose that what they will tell the CFTC will say more about their industrial strategy than about the right state of the US regulations on event derivative markets, but I could be damn wrong.
Tom W. Bell is working on a comment to the CFTC (that’-s public information). Once it is published, the next thing to do is a comparative analysis of Bell versus Ruspini. With that question in mind: Which of these 2 luminaries will have the best impact on the CFTC?
I can’-t wait.
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How come John Salvatiers comment to the CFTC has not appeared on their website already?
Are comments that favor FOR-PROFIT prediction exchanges censored by the CFTC?
I want to see John’-s comment appear here. –- I’-ll interpret any censorship as a neo-cons’- black op. 
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Previous blog posts by Chris F. Masse:
- Meet professor Thomas W. Malone (on the right), from the MIT’s Center for Collective Intelligence.
- Tom W. Bell rebuts the puritan and sterile petition organized by the American Enterprise Institute (which has on its payroll Paul Wolfowitz, the bright masterminder of the Iraq war).
- The upcoming CFTC ruling may come as thunder and lightning —or may not. That is the question. Will they exempt or will they regulate?
- PROF TOM W. BELL, PLEASE, DO SKIP THE PAGAN CELEBRATIONS, AND, PLEASE, DO RETURN TO YOUR DESK TO FINISH THE DRAFT OF YOUR COMMENT TO THE CFTC. THANKS FOR YOUR PRAGMATIC (NOT ‘ETHEREAL’) CONTRIBUTION TO “THE FUTURE OF HUMANITY”. (There is a hidden slam to Robin Hanson in this title. I wonder whether people will get the joke.)
- The CFTC is going to close the comments in 3 days. We have 3 days left to convince the CFTC to accept FOR-PROFIT prediction exchanges (e.g., InTrade USA or BetFair USA), and counter the puritan and sterile petition organized by the American Enterprise Institute (which has on its payroll Paul Wolfowitz, the bright masterminder of the Iraq war).
- TOM W. BELL: “Thanks, Chris. Thanks, too, for being such an effective gadfly. I might well have blown off the whole exercise if you had not kept blogging about how you were awaiting my comment!”
- What to think of HedgeStreet’s comment to the CFTC