Thursday, April 05, 2012

A cold wind from across the pond

This is a little worrying, for those who like a little flutter on political markets,
The Commodity Futures Trading Commission (CFTC) today issued an order pursuant to Section 5c(c)(5)(C)(ii) of the Commodity Exchange Act and CFTC Regulation 40.11(a)(1), prohibiting the North American Derivatives Exchange (Nadex) from listing or making available for clearing or trading a set of self-certified political event derivatives contracts. The contracts are binary option contracts that pay out based upon the results of various U.S federal elections to be held in 2012.
I know this the States and they are a little bit chary of online gambling, but it might give our own Lords and Masters some bad ideas.

Mike Smithson they are coming after you.

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