Someone is offering a free $5,000 bill tonight over at Intrade.com:
That’s right. You can sell 9,999 shares of The Donald (not me, the other one) at $0.52 a piece. In just that one trade, you can pocket almost $5,200 of free money. Unless, of course, you believe that Donald Trump could actually be elected president.
So why haven’t I picked up this $5,000+ bill? Because I haven’t seen an unambiguous statement that buying and selling on Intrade is completely legit for U.S. citizens. Not worth the risk.
If Gary Gensler (Chairman of the Commodities Futures Trading Commission) or other relevant regulator would issue a ruling clarifying that Intrade trading is copacetic, that would be much appreciated.
For the latest Trump action, click here.
P.S. For sticklers: yes, the margin requirements on this trade could be rather a nuisance.
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Maybe I don’t understand margin requirements, but, according to Intrade, a sell of 9999 @ $0.52 requires just under $100000!? What can be the possible rationale for this? What is that rationale for margin requirement that is 20 times the capital at risk? I suspect that there is not enough liquidity/volume in the market and there are not enough buys.
statement that buying and selling on Intrade is completely legit for U.S. citizens. Not worth the risk.
http://www.detailking.com/