Intrade shuts doors to Americans

Discussion in 'Stock Market' started by Katzndogz, Nov 27, 2012.

  1. Katzndogz
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    Katzndogz Diamond Member

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    Intrade shuts out American bettors

    “We are sorry to announce that due to legal and regulatory pressures, Intrade can no longer allow US residents to participate in our real-money prediction markets,” the company said in a statement Monday. “Unfortunately this means that all US residents must begin the process of closing down their Intrade accounts. We strongly urge you to begin this process immediately.”

    Maybe this will convince a few more people to give up the albatross of American citizenship.
     
  2. Michael.Paul
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    Michael.Paul Rookie

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    Katzndogs, same thing has been going on in sports gambling and poker sites for years. I find it very enterprising of them that they do it AFTER the biggest election though. Why risk regulatory hell and put your business in jeopardy? That is what these website operators and owners have to go through just to have USA customers.
     
  3. Intense
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    Intense Senior Member

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    These may very well fall under the category of "Thought Crimes". Big Brother Must Regulate this. Gotta love that word "Must". :D I think it is the favorite word in the New York State Constitution.
     
  4. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    That's America! That's Freedom!

    From the article:
    So that way the corrupt Exchanges can get their cut!
    What? How can a Bank bar you from betting anywhere? What am I missing?


    I don't see the problem with betting on Intrade, that HAS to be more legal than the Drug money that US Banks launder.
     
  5. Michael.Paul
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    Michael.Paul Rookie

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    you are right it is all about the "man" getting in on the action. TBTF banks laundering money ahhh who cares about that right? (sarcasm intended)
     
  6. eflatminor
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    eflatminor Classical Liberal

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    How dare any of you question our dear leaders?! Shame on you! You know damn well the central planners in Washington know what's best for all of us. Be thankful we have such enlightened overlords. If they say Intrade is bad, it just is. BECAUSE, that's why!

    Now shut up and go to work.

    :eusa_eh:
     
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  7. anotherlife
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    anotherlife Gold Member

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    It's not just intrade. Many banks in many countries have been running exceptions against US persons for many years, if not decades. For example, try to open just a retirement account in Germany. If you don't already have one there, all German banks will deny you because of your US citizenship.

    Why do most immigrants in the world want to immigrate to this one USA since 2010? Don't they know better?
     
  8. Michael.Paul
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    Michael.Paul Rookie

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    Still (for now) the largest economy in the world and for lots of free stuff, that is why!
     

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