November 28th, 2012 10:42 pm EST
Intrade No Longer Offering Their Services to US Residents
Earlier this week, online prediction market Intrade.com announced that they were no longer allowing US residents to participate in their real money prediction markets. Intrade.com revealed that this move was due to "legal and regulatory pressures".
Intrade.com will continue to operate normally outside of the US market. The company also revealed that they have plans to return to the United States in the future with a "new exchange model that will allow legal participation from all jurisdictions", including the United States.
Intrade.com received a tremendous amount of press in the weeks and months leading up to the US Presidential election. The Barack Obama and Mitt Romney To Win The US Presidency contracts were closely scrutinized, with several major news outlets (including CNN) referring to Intrade frequently on the night of the election.
This attention led to scrutiny by regulatory and enforcement bodies, who presumably put the kibosh on Intrade's US-facing business, at least for the time being.