Monday, Apr 12, 2010
The healthcare reform signed into law by President Obama on 23rd March 2010 contained an "individual mandate" requiring everyone to purchase health insurance or incur a tax penalty. The constitutionality of the individual mandate is being challenged in Federal Court by a number of US States.
Intrade has listed a market for the US Supreme Court to declare the individual mandate unconstitutional. This market can be found under Legal > US Healthcare Reform.
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if the US Supreme Court rules the individual mandate is unconstitutional before midnight ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if the US Supreme Court does not rule the individual mandate is unconstitutional before midnight ET on the date specified in the contract.
Expiry will be based on the official decision of the US Supreme Court, as reported by three independent and reliable media sources. If the Supreme Court does not hear a lawsuit relating to the individual mandate the contract will be expired at 0.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions or uncertainty regarding this contract or interpretation of these contract specific rules, related exchange news articles or Exchange Rules before you place a trade.