Tradesports made the surprise announcement that it was ceasing operations. They are halting all trading and sending balances to customers (with a $20 processing fee).
The presumed reason for the shutdown is stricter US Federal government enforcement of the ban on online gambling. This makes it harder for Tradesports to accept deposits and send payments.
Tradesports and intrade charged pretty high fees anyway. Intrade isn't affected by the closing, only Tradesports.
I don't participate in online gambling.
The huge State restriction of the market makes online gambling seem like a good opportunity for agorists, especially if an alternate hawala-style monetary system is developed.
Thursday, January 1, 2009
Tradesports Shuts Down
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