Post #2012981

Before you get too excited about the senate “banning” predictive market trading I think it’s important to look at the context and rule. The rule itself (grabbed from Morenos site since I couldn’t find it elsewhere yet)No Member of the Senate may enter into, or offer to enter into, an agreement, contract, or transaction that provides for any purchase, sale, payment, or delivery that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of a specific event.’’.First: it talks strictly about members of the senate, and nothing about intent. Which means there are truck size holes. Secondly: this isn’t a “law” as in part of the United States criminal code. This is an amendment to the “Conflict of Interest” rule of the STANDING RULES OF THE SENATE, ie its self governing ruleset. That makes this all feel pretty toothless. An invitation to “we investigated ourselves and found no wrong doing”. I am frustrated that none of the half dozen articles explained any of this.