Thursday, Jun 17, 2010
Following the BP Deepwater Horizon oil spill President Obama announced a six-month moratorium on deep sea drilling. Intrade has listed a prediction market contract for the moratorium to be lifted by President Obama before the end of 2010.
This market can be found under Current Events > Offshore Drilling.
Contract Rules:
The contract will settle (expire) at 100 ($10.00) if moratorium on deep sea drilling is lifted before midnight ET 31 Dec 2010.
The contract will settle (expire) at 0 ($0.00) if moratorium on deep sea drilling is not lifted before midnight ET 31 Dec 2010.
Expiry will be based on official statements from President Obama , as reported by three independent and reliable media sources.
Any changes to the result after the contract has expired will not be taken into account - Contract Rule 1.4
Due to the nature of this prediction market contract you are obligated to read Contract Rule 1.7 (Unforeseen Circumstances) and Contract Rule 1.8 (Time Protection). Intrade may invoke these rules in its absolute discretion if deemed appropriate.
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract or interpretation of these contract specific rules, related exchange news articles or exchange rules before you place an order to trade.