Monday, September 22, 2008

Stock alerts launched

In response to some strong opinions sent back from our newsletter on the value of alerts, our first stock alert email went out today announcing the immediate launch of contract BENSON.POPE, which asks whether David Benson-Pope will stand as a candidate in the upcoming election for any party other than the Labour Party (or as an independent), and the launch of US presidential contracts.

These presidential contracts are our first outwards looking stocks, and I had to make a quick call to our lawyer today to double check that running stocks pointing at events outside New Zealand is consistent with our Securities Commission authorisation.

It is.

However, to help protect against my arrest next time I'm at LAX - which has actually happened, I believe, to the CEO of Dublin-based InTrade - these contracts remind traders that iPredict is for NZ Residents only.

So, friends in the US, please do not even think about trading on our US Presidential stocks, at least until more sensible rules on online predictions markets trading come into effect in the US (which, by the way, may be in the works), and also before our terms and conditions are amended to allow you to.


Crampton said...

I think DeLaney has avoided travel to the US to avoid being arrested; I don't think he's actually been hit as yet.

Matt Burgess said...

I'm pretty confident somebody actually was arrested at JFK some years ago - perhaps not the InTrade CEO.