3 votes

Anybody know what is up with Intrade.com?

http://www.intrade.com/v4/home/

"To Our Customers:

With sincere regret we must inform you that due to circumstances recently discovered we must immediately cease trading activity on www.intrade.com."

Say, WHAT?

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bigmikedude's picture

Bumping

the mystery for the night crowd.

This is what makes the DP awesome.

More info in a couple replies than I could have ferreted out in hours of research. THANKS to everyone who shares what they know!

Love or fear? Chose again with every breath.

BTW,

BTW, there's a Bitcoin version of Intrade at http://betsofbitco.in/

So if you're sick of being snubbed by the CFTC and want to play the market in a way that gubmint can't interfere with, check it out.

Works identically, though, not as many users/questions, of course.

Happy bitting! Er... BETTING!

Intrade was too good at predicting

I found their prediction markets to be far more accurate than any polling I have ever seen. When you take a mass of people who have real money on the line and thus take the time to research what they are betting on, you get pretty accurate results.

Josh Brueggen
Engineer
Entrepreneur
Gardener
Jack of all Trades
Precinct Commiteeman Precinct 5 Rock Island Co Illinois

Michael Nystrom's picture

Here is my stab at it

The US government obviously didn't like Intrade, and they banned Americans from participating in the fall of last year.

BusinessWeek
November 27, 2012

The CFTC said it’s seeking a permanent injunction to prevent Dublin-based Trade Exchange Network Ltd., which runs Intrade, from operating in violation of securities laws including a part of the Dodd-Frank Act intended to crack down on abuses in the sales of derivatives. The CFTC also said it’s seeking fines and disgorgement of all monetary benefits received as a result of the violations.

A year and a half earlier, the found died while climbing Mt. Everest:

John Delaney, Founder of Intrade, Dies at 42
NY Times

John Delaney, an Irish businessman who founded Intrade, an online prediction market that allows customers to bet on world political, entertainment and financial events, died on Saturday after coming within 50 yards of the summit of Mount Everest. He was 42.

The interesting thing is:

Because of the dangerous conditions at that elevation, Mr. Delaney’s body will remain on the peak, Mr. Falvey said.

Those are just two datapoints. Is the founders death related to the shutdown? Is he really dead?

Maybe he knew the Feds were coming, so he faked his death. Maybe he was pulling a Madoff and couldn't keep it up, so he faked his death. Maybe the company just deteriorated after his death.

Maybe InTrade was a CIA operation, and they have to pull the plug on it because of sequestration! Ha! That's a good one.

I think what we do know is that the Feds don't like "gambling." But that's only because they weren't getting their piece.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts

InTrade was too perceptive for the elites to hide their crimes

InTrade was too perceptive for the elites to hide their crimes, that's why. It had to be shut down. Period.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"