Re: TECH/IDEA FUTURES: Nevada Law Would Permit Internet Gambling ...

Date: Wed Apr 25 2001 - 14:49:49 MDT

Brent Allsop wrote:
> What about setting up a real money idea futures some place
> like sealand? Would there be problems with this?

Foresight institute is running a private real-money version of Idea Futures
(using the same software as My goal has been to move
toward greater participation, while maintaining a socially valuable
appearance so we can progressively open the market up to a larger audience.
 Prices are visible at

My reason for keeping it in the country, and pushing for above-board status
is that I want the market to eventually become something that one could
bring up in public policy debates. "According to the Idea Futures market,
the oceans may be rising, but at nowhere near the rate you postulate." "If
you're sure private space will never succeed, why haven't you backed up
your opinions with your bank account in the market where the public odds
are set?"

If the only real money IF markets are off-shore, the easy rejoinder is
"that's illegal." End of argument.

If someone wants to set up another market with a different goal, offshore
works just fine. But it's harder to describe the results as representing
consensus views if many people consider it illegal.


Chris Hibbert         It is easy to turn an aquarium into fish soup, but    not so easy to turn fish soup back into an aquarium.
                        -- Lech Walesa on reverting to a market economy.

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